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AFTER MARKET UPDATE - WEDNESDAY, NOVEMBER 29TH, 2023
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DOW |
+13.44 |
35,430.42 |
+0.04% |
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Volume |
987,346,980 |
+19% |
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Volume |
4,911,813,800 |
+8% |
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NASDAQ |
-23.27 |
14,258.49 |
-0.16% |
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Advancers |
1,841 |
65% |
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Advancers |
2,550 |
59% |
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S&P 500 |
-4.31 |
4,550.58 |
-0.09% |
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Decliners |
979 |
35% |
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Decliners |
1,751 |
41% |
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Russell 2000 |
+11.00 |
1,803.81 |
+0.61% |
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52 Wk Highs |
88 |
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52 Wk Highs |
150 |
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S&P 600 |
+4.08 |
1,168.05 |
+0.35% |
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52 Wk Lows |
24 |
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52 Wk Lows |
110 |
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Major Indices Were Mixed and Little Changed Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices were mixed and little changed again. Volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Advancers led decliners by almost a 2-1 margin on the NYSE and by almost 3-2 on the Nasdaq exchange. There were 65 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 35 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). New buying efforts should be only made in stocks fitting all key criteria of the fact-based investment system.
PICTURED: The Dow Jones Industrial Average is perched only -0.4% off its 2023 high. Six of the S&P 500 sectors closed higher while five declined. The real estate sector (+0.7%) led the gainers while the communication services sector (-1.1%) saw the biggest decline due to its lagging mega cap constituents. There was an upward revision to Q3 real GDP to 5.2% from 4.9%.
General Motors (GM +9.38%) announced an accelerated $10 billion share buyback program and 33% increase in its dividend. Earnings results inspired solid gains from CrowdStrike (CRWD +10.40%), NetApp (NTAP +14.63%), Workday (WDAY +11.02%), and Foot Locker (FL +16.07%).
The 2-yr note yield settled seven basis points lower at 4.66% and the 10-yr note yield declined seven basis points to 4.27%. Richmond Fed President Barkin (2024 FOMC voter) said that he thinks it is premature to talk rate cuts and that he is not taking the possibility of further rate hikes off the table. He believes inflation is likely to be more stubborn than he would like it to be.
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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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Financial and Tech Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.98%) and the Broker/Dealer Index ($XBD +1.07%) posted gains while the Retail Index ($RLX -0.51%) ended in the red. The tech sector had positive bias as the Networking Index ($NWX +0.63%), Biotech Index ($BTK +0.91%), and the Semiconductor Index ($SOX +0.94%) each edged higher. Commodity-linked groups had a slightly negative bias as the Integrated Oil Index ($XOI -0.65%), Oil Services Index ($OSX -0.76%), and the Gold & Silver Index ($XAU -0.28%) each ended slightly lower.
PICTURED: The Oil Services Index ($OSX -0.76%) has been sputtering below its 200-day moving average (DMA) line in recent weeks.
| Oil Services |
$OSX |
81.89 |
-0.63 |
-0.76% |
-2.35% |
| Integrated Oil |
$XOI |
1,838.21 |
-12.08 |
-0.65% |
+2.85% |
| Semiconductor |
$SOX |
3,753.36 |
+35.01 |
+0.94% |
+48.23% |
| Networking |
$NWX |
726.40 |
+4.58 |
+0.63% |
-7.27% |
| Broker/Dealer |
$XBD |
492.47 |
+5.20 |
+1.07% |
+9.65% |
| Retail |
$RLX |
3,675.71 |
-18.74 |
-0.51% |
+33.47% |
| Gold & Silver |
$XAU |
123.05 |
-0.35 |
-0.28% |
+1.81% |
| Bank |
$BKX |
84.13 |
+1.64 |
+1.98% |
-16.58% |
| Biotech |
$BTK |
4,811.17 |
+43.45 |
+0.91% |
-8.90% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
ANET
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NYSE
Arista Networks
Computer-Networking
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$219.30
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+0.00
0.00% |
$223.52
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217
0.01% of 50 DAV
50 DAV is 2,151,000
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$223.52
-1.89%
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10/31/2023
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$188.84
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PP = $198.80
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MB = $208.74
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Most Recent Note - 11/27/2023 5:00:48 PM
G - Managed a best-ever close with today's 3rd consecutive small gain backed by below-average volume. Prior highs in the $198 area define near-term support above its 50 DMA line ($196). Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Powerful Gain Following Earnings Report for Arista Networks - 10/31/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$102.00
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+0.00
0.00% |
$102.31
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8,431
0.17% of 50 DAV
50 DAV is 4,852,000
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$105.69
-3.49%
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11/2/2023
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$100.97
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PP = $104.10
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MB = $109.31
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Most Recent Note - 11/28/2023 12:35:59 PM
Y - Pulling back from its 52-week high with today's gap down. Found prompt support at its 50 DMA line ($97.11) when recently consolidating. It has been repeatedly noted - "Subsequent gains for new highs backed by at least +40% above average volume are needed to trigger a technical buy signal."
>>> FEATURED STOCK ARTICLE : Approaching Prior High With Strong Fundamentals - 11/2/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
QLYS
-
NASDAQ
Qualys
Computer Sftwr-Security
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$183.76
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+3.19
1.77% |
$184.35
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0
0.00% of 50 DAV
50 DAV is 338,000
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$184.35
-0.32%
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11/3/2023
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$167.50
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PP = $165.03
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MB = $173.28
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Most Recent Note - 11/27/2023 5:07:23 PM
G - Posted another small gain today with light volume for a best-ever close. Prior high ($165) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Powerful Breakout for Qualys - 11/3/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
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$225.86
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+0.00
0.00% |
$230.02
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67
0.01% of 50 DAV
50 DAV is 448,000
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$231.71
-2.52%
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11/8/2023
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$127.84
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PP = $223.30
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MB = $234.47
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Most Recent Note - 11/27/2023 5:03:21 PM
Y - Volume totals have been cooling while hovering near its all-time high, above its pivot point and below its "max buy" level. The recent low ($212.89 on 11/09/23) defines near-term support above its 50 DMA line ($210.76).
>>> FEATURED STOCK ARTICLE : Breakout for Axon as it Returns to Featured Stocks List - 11/8/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$952.82
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-3.36
-0.35% |
$959.64
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0
0.00% of 50 DAV
50 DAV is 244,000
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$1,013.08
-5.95%
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11/9/2023
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$982.68
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PP = $940.10
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MB = $987.11
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Most Recent Note - 11/28/2023 5:49:36 PM
G - Pulled back today with higher (near average) volume. Consolidating after briefly trading above the $1,000 threshold. Fundamentals remain strong. Prior high ($940) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : TransDigm's Big Gap Up Gain Triggered Technical Buy Signal - 11/9/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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 |
PANW
-
NASDAQ
Palo Alto Networks
Computer Sftwr-Security
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$288.91
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+0.00
0.00% |
$292.33
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3,349
0.09% of 50 DAV
50 DAV is 3,779,000
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$292.33
-1.17%
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11/13/2023
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$255.90
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PP = $266.00
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MB = $279.30
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Most Recent Note - 11/29/2023 12:30:13 PM
G - Today's 4th consecutive gain with ever-increasing volume has it hitting yet another new all-time high and its color code is changed to green after rising above the "max buy" level. Prior gain above the pivot point backed by +70% above average volume triggered a proper technical buy signal. Recovered quickly above its 50 DMA line after testing the prior low ($233.81 on 11/06/23) last week. Fundamentals remain strong after it reported Oct '23 quarterly earnings +66% on +20% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Earnings New Due While Perched Near Prior High - 11/13/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
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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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