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AFTER MARKET UPDATE - FRIDAY, DECEMBER 2ND, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
-21.51 |
19,170.42 |
-0.11% |
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Volume |
882,148,840 |
-22% |
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Volume |
1,678,294,280 |
-17% |
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NASDAQ |
+4.54 |
5,255.65 |
+0.09% |
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Advancers |
1,619 |
55% |
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Advancers |
1,485 |
52% |
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S&P 500 |
+0.87 |
2,191.95 |
+0.04% |
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Decliners |
1,332 |
45% |
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Decliners |
1,396 |
48% |
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Russell 2000 |
+0.45 |
1,314.25 |
+0.03% |
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52 Wk Highs |
91 |
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52 Wk Highs |
106 |
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S&P 600 |
+0.76 |
809.35 |
+0.09% |
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52 Wk Lows |
73 |
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52 Wk Lows |
54 |
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Weakness Hurt Nasdaq Composite Index This Week
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the week, the Dow was up 0.1%, the S&P lost 1%, and the Nasdaq fell 2.7%. Stocks finished little changed on Friday. The Dow was down 21 points to 19170. The S&P 500 added 1 point to 2191 and the Nasdaq Composite gained 4 points to 5255. Volume totals were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was slightly positive as advancers led decliners by a 7-6 margin on the NYSE and an even narrower margin on the Nasdaq exchange. Leadership waned as there were 40 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 73 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.
PICTURED: The Nasdaq Composite Index undercut its 50-day moving average (DMA) line with recent volume-driven losses. The tech-heavy index is up +4.95% year-to-date.
The major averages (M criteria) are in a confirmed uptrend. New buying efforts should only be made in candidates with superior fundamental and technical characteristics. The Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages fluctuated in a choppy trading session as investors digested an update on the labor market. Non-farm payrolls grew 178,000 in November versus a projected 180,000 increase. The labor force participation rate was slightly lower from the previous month at 62.7%. Finally, the unemployment rate came in at 4.6%, a nine-year low. According to Bloomberg data, futures are currently pricing a 100% probability of a rate hike this month.
Seven of 11 sectors in the S&P 500 finished in positive territory. In M&A news, Pandora Media (P +16.11%) rose amid reports the company is open to engage in talks with Sirius XM (SIRI -5.60%). In the consumer space, Five Below (FIVE +9.88%) rallied after reporting an optimistic start of the holiday shopping season. Shares of Starbucks (SBUX -2.2%) fell with news the company’s CEO is stepping down. In earnings, Workday (WDAY -12.50%) fell after executives warned of delayed purchases amid Brexit uncertainty. Smith & Wesson (SWHC -12.01%) fell as the gun maker provided disappointing guidance.
Treasuries advanced with the benchmark 10-year note up 15/32 to yield 2.39%. In commodities, NYMEX WTI crude added 1.2% to $51.68/barrel, its biggest weekly gain since February 2011. COMEX gold gained 0.6% to $1174.10/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financials Fell While Tech Sector and Gold & Silver Index Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Energy-linked groups held their recent gains as the Oil Services Index ($OSX +0.18%) and the Integrated Oil Index ($XOI +0.09%) inched higher on Friday. The Broker/Dealer Index ($XBD -1.11%) and the Bank Index ($BKX -1.05%) both pulled back while the Retail Index ($RLX +0.07%) eked out a small gain. The tech sector had a positive bias as the Semiconductor Index ($SOX +1.30%), Networking InFdex ($NWX +0.90%) and the Biotechnology Index ($BTK +0.47%) rose. The Gold & Silver Index ($XAU +3.77%) was a standout as it posted a solid gain. Charts courtesy www.stockcharts.com
 PICTURED: The Biotechnology Index ($BTK +0.47%) failed to rebound meaningfully and ended the week below its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
180.00 |
+0.33 |
+0.18% |
+14.12% |
| Integrated Oil |
$XOI |
1,229.33 |
+1.06 |
+0.09% |
+14.60% |
| Semiconductor |
$SOX |
847.70 |
+10.91 |
+1.30% |
+27.77% |
| Networking |
$NWX |
429.15 |
+3.82 |
+0.90% |
+14.16% |
| Broker/Dealer |
$XBD |
204.13 |
-2.29 |
-1.11% |
+14.62% |
| Retail |
$RLX |
1,352.15 |
+0.96 |
+0.07% |
+5.35% |
| Gold & Silver |
$XAU |
82.30 |
+2.99 |
+3.77% |
+81.68% |
| Bank |
$BKX |
88.23 |
-0.94 |
-1.05% |
+20.73% |
| Biotech |
$BTK |
3,149.56 |
+14.74 |
+0.47% |
-17.42% |
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Very Extended From Base Following Additional Gains on Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Centerstate Banks Inc (CSFL +$0.53 or +2.27% to $23.92) hit another new all-time high today, getting very extended from any sound base. Its 50-day moving average (DMA) line and prior highs define near-term support in the $19 area. CSFL was last shown in this FSU section on 11/11/16 with an annotated graph under the headline, "Extended From Base After Volume Driven Gains".
It has risen +31.4% since first highlighted in yellow with new pivot point cited based on its 9/08/16 high plus 10 cents in the 10/10/16 mid-day report (read here). Subsequent volume-driven gains for new highs (N criteria) triggered a proper technical buy signal on 10/19/2016 as it was noted - "Hit a new 52-week high with today's gain above its pivot point backed by +91% above average volume triggering a technical buy signal under the fact-based investment system's guidelines."
The Sep '16 quarter marked its 8th consecutive earnings increase above the +25% minimum guideline (C criteria), and its annual earnings (A criteria) history has been good. Its small supply of only 46.1 millions shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling.
The number of top-rated funds owning its shares rose from 180 in Jun '15 to 255 in Sep '16, a reassuring sign. Its current Up/Down Volume ratio of 2.3 is an unbiased indication its shares have been under only slight accumulation over the past 50 days (I criteria). |
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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 |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$23.92
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+0.53
2.27% |
$24.25
|
573,145
250.28% of 50 DAV
50 DAV is 229,000
|
$23.43
2.09%
|
10/10/2016
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$18.20
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PP = $18.37
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|
MB = $19.29
|
Most Recent Note - 12/2/2016 5:28:44 PM
G - Hit another new all-time high today, getting very extended from any sound base. Its 50 DMA line and prior highs define near-term support in the $19 area. See the latest FSU analysis for additional details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Very Extended From Base Following Additional Gains on Volume - 12/2/2016 |
View all notes |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
|
$19.75
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+0.30
1.54% |
$19.90
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84,415
97.03% of 50 DAV
50 DAV is 87,000
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$20.65
-4.36%
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11/23/2016
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$19.35
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PP = $18.26
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MB = $19.17
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Most Recent Note - 11/30/2016 5:32:55 PM
G - Churned above average volume with small losses for the past 2 sessions, encountering some distributional pressure after getting extended from its prior base. Prior highs in the $18 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Strength Returned for Previously Featured Leader - 11/23/2016 |
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C
A
S
I |
BERY
-
NYSE
Berry Plastics Group Inc
CONSUMER NON-DURABLES - Packaging and Containers
|
$48.71
|
+0.41
0.85% |
$48.91
|
1,146,886
69.85% of 50 DAV
50 DAV is 1,642,000
|
$50.88
-4.26%
|
11/30/2016
|
$50.26
|
PP = $46.47
|
|
MB = $48.79
|
Most Recent Note - 12/1/2016 5:55:37 PM
Y - Pulled back with above average volume for a 2nd consecutive session. There was a "breakaway gap" on 11/29/16, powering to new 52-week highs with considerable volume-driven gains. A breakaway gap is one noted exception to the rule that investors should not chase a stock more than +5% above prior highs, however, risk increases the further above the pivot point one buys any stock. Strong sales revenues and earnings increases in quarterly comparisons through Sep '16 match the fact-based investment system's fundamental guidelines. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulling Back After "Breakaway Gap" With Heavy Volume - 12/1/2016 |
View all notes |
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C
A
S
I |
EVR
-
NYSE
Evercore Partners Inc
FINANCIAL SERVICES - Investment Banking
|
$68.60
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-1.65
-2.35% |
$69.95
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408,242
94.06% of 50 DAV
50 DAV is 434,000
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$70.45
-2.63%
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11/14/2016
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$63.30
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PP = $60.73
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MB = $63.77
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Most Recent Note - 12/1/2016 6:00:39 PM
G - Powered further into new all-time high territory with today's gain backed by +94% above average volume. It is very extended from its prior base. Disciplined investors avoid chasing extended stocks.
>>> FEATURED STOCK ARTICLE : Big Volume Driven Gain Extends Winning Streak - 11/14/2016 |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$220.59
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+2.77
1.27% |
$221.58
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833,945
70.20% of 50 DAV
50 DAV is 1,188,000
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$272.58
-19.07%
|
6/29/2016
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$182.42
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PP = $186.55
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MB = $195.88
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Most Recent Note - 12/1/2016 6:02:45 PM
G - Sank near prior lows with today's 3rd consecutive loss. The longer it lingers below its downward sloping 50 DMA line the worse its outlook gets. A rebound above the 50 DMA line ($246.77) is needed to help its outlook improve.
>>> FEATURED STOCK ARTICLE : Slump Below 50-Day Moving Average Raised Concerns - 11/17/2016 |
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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 |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$52.00
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-0.29
-0.55% |
$52.62
|
91,356
60.10% of 50 DAV
50 DAV is 152,000
|
$52.84
-1.59%
|
9/29/2016
|
$46.12
|
PP = $47.82
|
|
MB = $50.21
|
Most Recent Note - 11/29/2016 12:26:42 PM
G - Hitting another new 52-week high today. Cleared its previously cited pivot point with +339% above average volume behind its gain on 11/28/16 triggering a technical buy signal. However, it was repeatedly noted with caution during its recent consolidation - "Reported earnings +10% on +6% sales revenues for the Sep '16 quarter, below the +25% minimum earnings guideline (C criteria), raising concerns."
>>> FEATURED STOCK ARTICLE : Perched Near Highs After Finding Support Above 50-Day Average - 11/18/2016 |
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C
A
S
I |
DW
-
NYSE
Drew Industries Inc
MATERIALS and CONSTRUCTION - General Building Materials
|
$103.65
|
-1.65
-1.57% |
$105.25
|
243,158
100.48% of 50 DAV
50 DAV is 242,000
|
$107.60
-3.67%
|
11/29/2016
|
$106.29
|
PP = $101.00
|
|
MB = $106.05
|
Most Recent Note - 11/29/2016 5:19:20 PM
Y - Finished strong after highlighted in yellow with pivot point cited based on its 9/28/16 high. Hit new all-time highs with today's gain backed by +87% above average volume. Recent gains clearing a "double bottom" base lacked volume above the +40% above average minimum guideline. Rebounded from support at its 200 DMA line in recent weeks. Reported Sep '16 quarterly earnings +70% on +19% sales revenues, marking its 4th consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria) Strong annual earnings (A criteria) history matches the fact-based investment system's fundamental guidelines.
>>> FEATURED STOCK ARTICLE : Pullback Following Volume-Driven Gain For New Highs - 11/30/2016 |
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C
A
S
I |
LMAT
-
NASDAQ
Lemaitre Vascular Inc
Medical-Products
|
$22.42
|
+0.10
0.45% |
$22.70
|
116,866
75.40% of 50 DAV
50 DAV is 155,000
|
$24.99
-10.28%
|
10/27/2016
|
$21.03
|
PP = $22.60
|
|
MB = $23.73
|
Most Recent Note - 11/30/2016 5:31:27 PM
Y - Slumped further below its "max buy" level with today's 4th consecutive loss on below average volume. Prior highs in the $22 area define initial support following its technical breakout.
>>> FEATURED STOCK ARTICLE : Perched Near Highs Following Recent Technical Breakout - 11/25/2016 |
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C
A
S
I |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
|
$69.35
|
-0.45
-0.64% |
$72.93
|
89,825
77.44% of 50 DAV
50 DAV is 116,000
|
$72.85
-4.80%
|
11/29/2016
|
$72.45
|
PP = $69.63
|
|
MB = $73.11
|
Most Recent Note - 11/30/2016 5:29:47 PM
Y - Pulled back on lighter volume today. Finished strong after highlighted in yellow with new pivot point cited based on its 7/28/16 high plus 10 cents in 11/29/16 mid-day report (read here). Stubbornly held its ground as it rebounded impressively. Fundamentals remain strong. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Volume-Backed Breakout Triggered New Technical Buy Signal - 11/29/2016 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$93.17
|
-0.13
-0.14% |
$94.93
|
846,085
125.91% of 50 DAV
50 DAV is 672,000
|
$96.84
-3.79%
|
11/21/2016
|
$93.80
|
PP = $88.66
|
|
MB = $93.09
|
Most Recent Note - 12/1/2016 6:04:23 PM
G - Pulled back for a 3rd consecutive session, retreating from all-time highs but still finishing above its "max buy" level. Disciplined investors avoid chasing stocks extended more than +5% above their pivot point. Prior highs in the $88 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Heavy Volume Behind Breakout Gain - 11/21/2016 |
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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 |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$73.83
|
-0.94
-1.26% |
$74.85
|
189,047
192.91% of 50 DAV
50 DAV is 98,000
|
$75.84
-2.65%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 12/2/2016 12:32:12 PM
G - Perched at all-time highs after volume-driven gains. Very extended from its prior base. Its 50 DMA line ($57.91) defines important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Very Extended From Prior Base Following Post-Election Gains - 11/22/2016 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$30.65
|
+1.20
4.07% |
$30.90
|
463,181
59.00% of 50 DAV
50 DAV is 785,000
|
$32.68
-6.20%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 12/2/2016 5:31:13 PM
G - Posted a gain today with very light volume following a brief pullback below its "max buy" level on higher volume. Recent gains above the pivot point did not have at least +40% above average volume to trigger a proper technical buy signal. Prior highs near $28 define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Pulling Back After Getting Extended More Than +5% Above Prior Highs - 11/28/2016 |
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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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