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AFTER MARKET UPDATE - TUESDAY, NOVEMBER 17TH, 2020
Previous After Market Report Next After Market Report >>>
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DOW |
-167.09 |
29,783.35 |
-0.56% |
|
Volume |
954,611,424 |
-12% |
|
Volume |
4,123,812,700 |
+0% |
|
NASDAQ |
-22.96 |
11,901.17 |
-0.19% |
|
Advancers |
1,709 |
57% |
|
Advancers |
1,784 |
51% |
|
S&P 500 |
-17.38 |
3,609.53 |
-0.48% |
|
Decliners |
1,298 |
43% |
|
Decliners |
1,688 |
49% |
|
Russell 2000 |
+6.58 |
1,791.91 |
+0.37% |
|
52 Wk Highs |
136 |
|
|
52 Wk Highs |
176 |
|
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S&P 600 |
+5.05 |
1,028.57 |
+0.49% |
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52 Wk Lows |
1 |
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52 Wk Lows |
12 |
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Small Cap Indexes Outperformed as 3 Major Indexes Ended Lower
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow fell 167 points, while the S&P 500 declined 0.5%. The Nasdaq Composite slipped 0.2%. The reported volume totals were mixed, lighter than the prior session on the NYSE and slightly higher on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 4-3 margin on the NYSE and by a narrower margin on the Nasdaq exchange. Leadership contracted were 52 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 80 on the prior session. New 52-week highs contracted yet easily outnumbered new 52-week lows totals. The major indices confirmed a new uptrend (M criteria) with recent follow-through gains backed by higher volume and more leadership. Investors are reminded to always make buying and selling decisions based based on the strict criteria and rules of the fact-based investment system.  PICTURED: The S&P 600 Index posted another gain approaching its record high.
U.S. equities declined on Tuesday, with the S&P 500 and Dow pulling back from record highs notched in the previous session. New virus-inspired restrictions across the U.S. dampened recent COVID-19 vaccine optimism, with an increasing number of states reinstating measures aimed at stemming the spread of the virus as the number of new cases in the U.S. surpassed 1 million during the past week.
Economic data was also in focus. Retail sales rose just 0.3% in October, disappointing expectations for a 0.5% uptick and slowing from the downwardly revised 1.6% advance in September. A separate release revealed industrial production rose 1.1% in October, rebounding from September’s 0.4% decline. Finally, an update from the NAHB showed homebuilder sentiment unexpectedly jumped to another fresh all-time high in November, the third record print in as many months. Treasuries advanced with the yield on the 10-year note falling four basis points to 0.87%.
Nine of 11 S&P 500 sectors ended in negative territory, with Energy and Real Estate bucking the downtrend. In earnings, Walmart (WMT -2.01%) fell despite topping Wall Street’s earnings and revenue expectations and reporting a 79% surge in eCommerce sales during the third quarter. Home Depot (HD -2.54%) fell after the company revealed it would be adding $1 billion per year to employee costs following a top and bottom line beat. In other corporate news, CVS Health (CVS -8.62%) and Walgreens Boots Alliance (WBA -9.63%) both slumped considerably after Amazon (AMZN +0.15%) announced the launch of its new online pharmacy. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy-Linked Groups, Networking and Broker/Dealer Index Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.93%) posted a gain but the Bank Index ($BKX -0.33%) and the Retail Index ($RLX -0.55%) created a drag on the major averages. The Semiconductor Index ($SOX -0.81%) Biotech Index ($BTK -0.33%) ended slightly lower while the Networking Index ($NWX +0.29%) edged higher. Commodity-linked groups were mixed as the Oil Services Index ($OSX +1.36%) and Integrated Oil Index ($XOI +0.83%) both noteched gains but the Gold & Silver Index ($XAU -1.54%) ended lower.
PICTURED: The Networking Index ($NWX +0.29%) edged higher hitting a new record high.
| Oil Services |
$OSX |
37.27 |
+0.50 |
+1.36% |
-52.40% |
| Integrated Oil |
$XOI |
742.93 |
+6.13 |
+0.83% |
-41.53% |
| Semiconductor |
$SOX |
2,550.18 |
-20.79 |
-0.81% |
+37.88% |
| Networking |
$NWX |
627.59 |
+1.84 |
+0.29% |
+7.57% |
| Broker/Dealer |
$XBD |
341.36 |
+3.14 |
+0.93% |
+17.56% |
| Retail |
$RLX |
3,442.70 |
-19.18 |
-0.55% |
+40.56% |
| Gold & Silver |
$XAU |
141.19 |
-2.21 |
-1.54% |
+32.05% |
| Bank |
$BKX |
90.08 |
-0.30 |
-0.33% |
-20.54% |
| Biotech |
$BTK |
5,530.04 |
-18.05 |
-0.33% |
+9.13% |
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Formed Ascending Base Following Earlier Breakway Gap
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Clearfield Inc (CLFD -$1.28 or -5.39% to $22.46) suffered a volume-driven loss today while testing support at its 50-day moving average (DMA) line ($21.74). More damaging losses would raise concerns. It was highlighted in yellow with pivot point cited based on its 11/09/20 high plus 10 cents in the earlier mid-day report (read here). It has formed an advanced "ascending base" marked by 3 pullbacks of 10-20% after a big breakaway gap on 7/24/20. Subsequent gains above the pivot point marked by +40% above average volume are needed to trigger a proper new technical buy signal.
The high[ranked TELECOMMUNICATIONS - Cables / Satalite Equipment firm reported earnings +57% on +14% sales revenues for the Sep '20 quarter versus the year ago period, its 3rd consecutive quarterly earnings comparison above the +25% minimum guideline (C criteria). Annual earnings (A criteria) history has improved after a downturn in FY '17.
The number of top-rated funds owning its shares rose from 132 in Jun '20 to 136 in Sep '20. Its current Up/Down Volume ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days. It currently has a Timeliness Rating of A but a Sponsorship Rating of E. Its Accumulation/Distribution Rating is B.
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Color Codes Explained :
Y - Better candidates highlighted by our
staff of experts.
G - Previously featured
in past reports as yellow but may no longer be buyable under the
guidelines.
***Last / Change / Volume data in this table is the closing quote data***
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
CRL
-
NYSE
Charles River Labs Intl
DRUGS - Biotechnology
|
$235.98
|
-2.02
-0.85% |
$237.80
|
209,443
59.84% of 50 DAV
50 DAV is 350,000
|
$257.88
-8.49%
|
7/15/2020
|
$192.66
|
PP = $189.95
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|
MB = $199.45
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Most Recent Note - 11/11/2020 5:58:04 PM
G - After a "negative reversal" at a new new all-time high it pulled back and tested support at an upward trendline and its 50 DMA line ($228) which again acted as support. More damaging losses would raise greater concerns and may trigger a worrisome technical sell signal. Reported Sep '20 quarterly earnings +38% on +11% sales revenues versus the year ago period, above the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : Earnings Due; Consolidating Near Prior High and Above 50 DMA Line - 10/27/2020 |
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C
A
S
I |
AMD
-
NASDAQ
Advanced Micro Devices
ELECTRONICS - Semiconductor - Broad Line
|
$83.36
|
-0.37
-0.44% |
$84.81
|
29,409,238
56.46% of 50 DAV
50 DAV is 52,087,000
|
$94.28
-11.58%
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8/31/2020
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$90.42
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PP = $87.39
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MB = $91.76
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Most Recent Note - 11/11/2020 5:56:21 PM
G - Rebounded back above its 50 DMA line ($80.71) with light volume behind today's big gain. Prior lows in the $73 area define important near term support. On 11/06 and 11/09 prior notes repeatedly cautioned members - "It has not formed a sound base pattern. Subsequent losses and deterioration below the recent low would raise greater concerns and trigger a more worrisome technical sell signal. Faces near-term resistance due to overhead supply up to the $94 level."
>>> FEATURED STOCK ARTICLE : Weak Action Raised Concern While Testing Recent Low - 11/3/2020 |
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C
A
S
I |
TER
-
NASDAQ
Teradyne Inc
ELECTRONICS - Semiconductor Equipment and Mate
|
$105.91
|
-1.27
-1.18% |
$106.72
|
1,258,425
54.10% of 50 DAV
50 DAV is 2,326,000
|
$107.24
-1.24%
|
10/21/2020
|
$92.22
|
PP = $93.54
|
|
MB = $98.22
|
Most Recent Note - 11/16/2020 5:45:03 PM
G - Posted a big gain today with below average (but higher) volume for a new all-time high. Reported earnings +53% on +41% sales revenues for the Sep '20 quarter versus the year ago period, its 4th consecutive quarterly comparison with earnings above the +25% minimum earnings guideline (C criteria). Sequential comparisons show encouraging acceleration in its sales revenues growth rate. Its annual earnings (A criteria) history has been strong.
>>> FEATURED STOCK ARTICLE : Recent Gains for New Highs Lacked Great Volume Conviction - 11/11/2020 |
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C
A
S
I |
TREX
-
NYSE
Trex Company Inc
MATERIALS and CONSTRUCTION - General Building Materials
|
$72.85
|
-0.17
-0.23% |
$73.06
|
542,685
64.91% of 50 DAV
50 DAV is 836,000
|
$81.23
-10.32%
|
6/26/2020
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$54.53
|
PP = $66.47
|
|
MB = $69.79
|
Most Recent Note - 11/13/2020 5:48:04 PM
G - Rebounded near its 50 DMA line ($72.51) with today's gain. Found support when testing the prior low ($63.32 on 9/21/20). Recently noted that it reported Sep '20 quarterly earnings +14% on +19% sales revenues versus the year ago period, below the +25% minimum guideline (C criteria) raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Helped Technical Stance - 11/4/2020 |
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C
A
S
I |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$22.46
|
-1.28
-5.39% |
$23.96
|
177,153
177.15% of 50 DAV
50 DAV is 100,000
|
$25.97
-13.52%
|
11/17/2020
|
$22.06
|
PP = $26.07
|
|
MB = $27.37
|
Most Recent Note - 11/17/2020 6:23:33 PM
Y - Suffered a volume-driven loss today testing support at its 50 DMA line ($21.74). More damaging losses would raise concerns. It was highlighted in yellow with pivot point cited based on its 11/09/20 high plus 10 cents in the earlier mid-day report. It has formed an advanced "ascending base" marked by 3 pullbacks of 10-20% after a big breakaway gap on 7/24/20. Subsequent gains above the pivot point marked by +40% above average volume are needed to trigger a proper technical buy signal. Reported earnings +57% on +14% sales revenues for the Sep '20 quarter versus the year ago period, its 3rd consecutive quarterly earnings comparison above the +25% minimum guideline (C criteria). Annual earnings (A criteria) history has improved after a downturn in FY '17. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Formed Ascending Base Following Earlier Breakway Gap - 11/17/2020 |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
LGIH
-
NASDAQ
L G I Homes Inc
Bldg-Resident/Comml
|
$108.95
|
-0.38
-0.35% |
$110.56
|
374,733
142.48% of 50 DAV
50 DAV is 263,000
|
$132.98
-18.07%
|
10/1/2020
|
$123.17
|
PP = $124.04
|
|
MB = $130.24
|
Most Recent Note - 11/16/2020 5:43:31 PM
G - Encountered more distributional pressure today while sputtering below its 50 DMA line ($116) which may act as resistance after a damaging volume-driven loss on the prior session. A rebound above the 50 DMA line is needed for its outlook to improve. Reported Sep '20 quarterly earnings +27% on +11% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Rebound Toward 50-Day Average Which May Act as Resistance - 11/10/2020 |
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C
A
S
I |
NOW
-
NYSE
Servicenow Inc
Computer Sftwr-Enterprse
|
$513.10
|
+10.82
2.15% |
$516.00
|
1,150,274
86.88% of 50 DAV
50 DAV is 1,324,000
|
$537.53
-4.54%
|
8/20/2020
|
$453.34
|
PP = $454.79
|
|
MB = $477.53
|
Most Recent Note - 11/17/2020 6:25:03 PM
G - Consolidating above its 50 DMA line ($492) while still hovering near its all-time high. Tested the prior low ($472 on 11/03/20) noted as important support where a damaging violation raises greater concerns. Recently reported Sep '20 quarterly earnings +22% on +30% sales revenues versus the year ago period, below the +25% minimum guideline (C criteria) of the fact-based investment system.
>>> FEATURED STOCK ARTICLE : Found Prompt Support at 50 DMA Line After Earnings News - 10/29/2020 |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$265.51
|
+0.89
0.34% |
$268.97
|
552,603
69.08% of 50 DAV
50 DAV is 800,000
|
$313.99
-15.44%
|
10/6/2020
|
$287.71
|
PP = $298.86
|
|
MB = $313.80
|
Most Recent Note - 11/16/2020 5:39:53 PM
G - Slumped again today with higher volume indicative of more damaging distributional pressure after volume-driven losses violating its 50 DMA line ($281.74) and undercutting the prior low ($263). Only a prompt rebound above the 50 DMA line would help its outlook improve. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Weak Technical Action Raised Recent Concerns - 11/16/2020 |
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C
A
S
I |
ALRM
-
NASDAQ
Alarm.com Holdings Inc
Security/Sfty
|
$70.09
|
-0.15
-0.21% |
$70.84
|
392,943
111.00% of 50 DAV
50 DAV is 354,000
|
$79.38
-11.70%
|
11/6/2020
|
$71.88
|
PP = $74.76
|
|
MB = $78.50
|
Most Recent Note - 11/16/2020 5:42:07 PM
Y - After reaching a new all-time high it has been encountering distributional pressure. Previously noted - "Subsequent gains above the pivot point may help clinch a convincing technical buy signal. Reported earnings +32% on +24% sales revenues for the Sep '20 quarter versus the year ago period, an improvement after +3% earnings in the Jun quarter. Prior quarterly comparisons were near or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been strong, a good match with the fact-based investment system."
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure as it Hit a New High - 11/9/2020 |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$196.52
|
+7.06
3.73% |
$198.28
|
1,800,460
104.31% of 50 DAV
50 DAV is 1,726,000
|
$216.30
-9.14%
|
10/12/2020
|
$193.77
|
PP = $199.60
|
|
MB = $209.58
|
Most Recent Note - 11/17/2020 6:26:57 PM
G - Consolidating above its 50 DMA line ($189), it recently found prompt support after undercutting the prior low ($180). Reported earnings +7% on +26% sales revenues for the Sep '20 quarter versus the year ago period, well below the +25% minimum earnings guideline (C criteria), raising concerns.
>>> FEATURED STOCK ARTICLE : Weak Technical Action Followed Disappointing Fundamental News - 11/2/2020 |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
YETI
-
NYSE
Yeti Holdings Inc
Leisure-Products
|
$57.87
|
+0.55
0.96% |
$57.98
|
1,566,131
124.30% of 50 DAV
50 DAV is 1,260,000
|
$62.72
-7.73%
|
11/5/2020
|
$57.25
|
PP = $55.14
|
|
MB = $57.90
|
Most Recent Note - 11/13/2020 5:51:08 PM
Y - Rebounded impressively after an abrupt pulllback. Its 50 DMA line ($50.02) defines near-term support above prior lows
>>> FEATURED STOCK ARTICLE : Finished Strong After Breakout Gain Was Noted in Mid-Day Report - 11/5/2020 |
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C
A
S
I |
AAXN
-
NASDAQ
Axon Enterprise Inc
Security/Sfty
|
$119.05
|
-0.28
-0.23% |
$119.55
|
410,979
67.60% of 50 DAV
50 DAV is 608,000
|
$128.39
-7.27%
|
11/6/2020
|
$122.75
|
PP = $113.00
|
|
MB = $118.65
|
Most Recent Note - 11/16/2020 5:41:17 PM
G - Volume totals have been cooling while stubbornly holding its ground near its all-time high. Bullish action came after reporting Sep '20 quarterly earnings +43% on +27% sales revenues versus the year ago period. It broke out of a cup-with-high-handle base with volume drying up during the handle.
>>> FEATURED STOCK ARTICLE : Breakaway Gap From Cup-With-High-Handle Pattern - 11/6/2020 |
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C
A
S
I |
QTWO
-
NYSE
Q2 Holdings Inc
Computer Sftwr-Financial
|
$106.92
|
+0.71
0.67% |
$107.22
|
416,709
104.86% of 50 DAV
50 DAV is 397,400
|
$109.27
-2.15%
|
11/12/2020
|
$105.14
|
PP = $106.54
|
|
MB = $111.87
|
Most Recent Note - 11/13/2020 12:29:43 PM
Y - Pulling back today yet still hovering near its high. Encountered distributional pressure on the prior sessoion as it churned heavy volme and ended lower after highlighted in yellow with new pivot point cited based on its 8/06/20 high plus 10 cents. Subsequent confirming gains above the pivot point backed by at least +40% above average volume may help clinch a convincing technical buy signal. Showed great earning increases with strong underlying sales revenues growth for the Jun and Sep '20 quarters versus the year ago periods. Annual earnings growth has been strong. Completed new Public Offerings on 6/06/19 and 5/13/20. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Churning Action Near Prior High Indicative of Distributional Pressure - 11/12/2020 |
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C
A
S
I |
|
|
|
THESE ARE NOT BUY RECOMMENDATIONS!
Comments contained in the body of this report are technical
opinions only. The material herein has been obtained
from sources believed to be reliable and accurate, however,
its accuracy and completeness cannot be guaranteed.
This site is not an investment advisor, hence it does
not endorse or recommend any securities or other investments.
Any recommendation contained in this report may not
be suitable for all investors and it is not to be deemed
an offer or solicitation on our part with respect to
the purchase or sale of any securities. All trademarks,
service marks and trade names appearing in this report
are the property of their respective owners, and are
likewise used for identification purposes only.
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You may opt-out of receiving report notifications
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