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AFTER MARKET UPDATE - FRIDAY, DECEMBER 6TH, 2024
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DOW |
-123.19 |
44,642.52 |
-0.28% |
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Volume |
915,161,462 |
-7% |
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Volume |
6,962,096,900 |
-4% |
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NASDAQ |
+159.05 |
19,859.77 |
+0.81% |
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Advancers |
1,201 |
44% |
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Advancers |
2,632 |
61% |
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S&P 500 |
+15.16 |
6,090.27 |
+0.25% |
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Decliners |
1,515 |
56% |
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Decliners |
1,661 |
39% |
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Russell 2000 |
+12.83 |
2,408.99 |
+0.54% |
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52 Wk Highs |
127 |
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52 Wk Highs |
243 |
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S&P 600 |
+1.45 |
1,510.70 |
+0.10% |
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52 Wk Lows |
61 |
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52 Wk Lows |
109 |
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Major Indices Were Mixed With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The market cap-weighted S&P 500 and the Nasdaq Composite finished yet again with new record highs. Volume totals were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was mixed as decliners led advancers by a 5-4 margin at the NYSE but advancers led decliners by a 5-3 margin at the Nasdaq exchange. There were 48 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 59 on the prior session. New 52-week highs totals contracted yet outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Disciplined investors know that new buying efforts are only to be made in stocks meeting all key criteria of the fact-based investment system.
PICTURED: The Dow Jones Industrial Average is hovering near its all-time high.
Leadership was provided in the form of solid earnings results and guidance from Lululemon Athletica (LULU +15.9%), DocuSign (DOCU +27.9%), and Ulta Beauty (ULTA +9.0%).
The consumer discretionary sector (+2.4%) easily outpaced other sectors. The next best performer was communication services (+1.4%) followed by information technology (+0.1%).
The 2-yr note yield settled the day down five basis points at 4.10% and the 10-yr note yield dropped three basis points to 4.15%.
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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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Retail and Tech Indexes Rose; Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +2.31%) posted a solid gain while the Bank Index ($BKX +0.05%) was unchanged and the Broker/Dealer Index ($XBD -0.10%) ended slightly lower. The tech sector had a positive bias the Semiconductor Index ($SOX +1.69%) and the Biotech Index ($BTK +0.98%) both outpaced the Networking Index ($NWX +0.30%). Commodity-linked groups had a negative bias as the Integrated Oil Index ($XOI -1.80%), Oil Services Index ($OSX -3.53%), and the Gold & Silver Index ($XAU -1.94%) each ended solidly lower.
PICTURED: The Retail Index ($RLX +2.31%) posted a solid gain rallying to a new high with its 9th gain in the span of 10 sessions..
| Oil Services |
$OSX |
75.43 |
-2.76 |
-3.53% |
-10.07% |
| Integrated Oil |
$XOI |
1,851.75 |
-33.86 |
-1.80% |
-0.58% |
| Semiconductor |
$SOX |
5,061.30 |
+34.93 |
+0.69% |
+21.21% |
| Networking |
$NWX |
1,231.70 |
+3.72 |
+0.30% |
+47.90% |
| Broker/Dealer |
$XBD |
846.19 |
-0.82 |
-0.10% |
+51.84% |
| Retail Index |
$RLX |
5,396.45 |
+121.97 |
+2.31% |
+38.77% |
| Gold & Silver |
$XAU |
147.72 |
-2.92 |
-1.94% |
+17.53% |
| Bank |
$BKX |
135.62 |
+0.07 |
+0.05% |
+41.24% |
| Biotech |
$BTK |
6,041.82 |
+58.77 |
+0.98% |
+11.50% |
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Negative Reversal After Hitting New All-Time High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Granite Construction (GVA -$0.54 or -0.55% to $98.27) ended lower today with light volume following a "negative reversal" on the prior session after hitting a new all-time high. Volume totals have been cooling in recent weeks. Bullish action continued even after it reported Sep '24 quarterly earnings +19% on +14% sales revenues versus the year-ago period, noted as "below the +25% minimum guideline (C criteria) of the fact-based investment system." Despite that fact, Granite Construction still has a 97 Earnings Per Share Rating. Annual earnings growth has been strong and steady.
GVA was highlighted on the 6/11/24 mid-day report as it was noted that a valid secondary buy point exists up to +5% above the recent high after finding support at its 10 WMA line following a prior breakout. It was last shown in this FSU section on 11/08/24 with an annotated graph under the headline, "Extended From Base After Streak of Gains for New Highs".
GVA hails from the Bldg-Heavy Construction group which is currently ranked 16th on the 197 Industry Groups list (L criteria). It has a small supply of only 43.7 million shares outstanding (S criteria) which 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 401 in Jun '23 to 433 in Sep '24. Its current Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 50 days.
Chart courtesy of www.stockcharts.com
 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 |  USLM - NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag | $152.54 | +2.09
1.39% | $153.82 | 106,701
119.89% of 50 DAV
50 DAV is 89,000 | $159.53
-4.38%
| 9/17/2024 | $71.26 | PP = $87.23 | | MB = $91.59 | Most Recent Note - 12/5/2024 12:21:12 PM
G - Very extended from any sound base, pulling back from its all-time high with today's 3rd consecutive volume-driven loss. Its 50 DMA line ($120) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Impressive Rally - 11/12/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | GVA - NYSE
Granite Construction
Bldg-Heavy Construction | $98.27 | -0.54
-0.55% | $99.08 | 529,097
84.93% of 50 DAV
50 DAV is 623,000 | $105.20
-6.59%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 |  Most Recent Note - 12/6/2024 8:14:40 PM
G - There was a "negative reversal" on the prior session after hitting a new all-time high. Reported Sep ''24 quarterly earnings +19% on +14% sales revenues versus the year-ago period, repeatedly noted as "below the +25% minimum guideline (C criteria) of the fact-based investment system." See the latest FSV analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Negative Reversal After Hitting New All-Time High - 12/6/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | TXRH - NASDAQ
Texas Roadhouse
Retail-Restaurants | $196.56 | +0.25
0.13% | $197.86 | 570,621
81.75% of 50 DAV
50 DAV is 698,000 | $206.04
-4.60%
| 7/26/2024 | $173.08 | PP = $175.82 | | MB = $184.61 | Most Recent Note - 12/6/2024 2:52:12 PM
G - Perched near its all-time high, still consolidating well above its 50 DMA line ($188.74) which defines important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Near High After Recent Volume-driven Gains - 11/15/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | HWM - NYSE
Howmet Aerospace
Aerospace/Defense | $118.31 | -1.76
-1.47% | $120.71 | 1,913,041
84.20% of 50 DAV
50 DAV is 2,272,000 | $120.70
-1.98%
| 7/30/2024 | $93.95 | PP = $85.52 | | MB = $89.80 | Most Recent Note - 12/5/2024 5:20:31 PM
G - Perched at its all-time high, extended from any sound base. Its prior high ($106.93 on 10/21/24) and 50 DMA line ($108) define near-term support levels to watch on pullbacks. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched at High - 12/5/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | NGVC - NYSE
Natural Grocers
Retail-Super/Mini Mkts | $43.67 | -0.66
-1.49% | $44.85 | 131,834
127.99% of 50 DAV
50 DAV is 103,000 | $47.57
-8.20%
| 11/5/2024 | $30.57 | PP = $30.42 | | MB = $31.94 | Most Recent Note - 12/5/2024 5:21:07 PM
G - Pulled back further from its all-time high with today's loss backed by average volume. Reported Sep '24 quarterly earnings +50% on +9% sales revenues versus the year-ago period. Prior high in the $30 area defines initial support to watch above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : New High After 6th Consecutive Gain - 11/11/2024 | 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 | CLS - NYSE
Celestica
Elec-Contract Mfg | $94.86 | +2.78
3.02% | $96.00 | 2,271,641
93.68% of 50 DAV
50 DAV is 2,425,000 | $93.15
1.84%
| 10/11/2024 | $57.62 | PP = $63.59 | | MB = $66.77 | Most Recent Note - 12/6/2024 2:58:57 PM
G - Hitting a new all-time high while posting a 4th consecutive gain today with below-average volume. It is very extended from any sound base. Its 50 DMA line ($72) defines initial support above prior highs in the $63 area.
>>> FEATURED STOCK ARTICLE : Pulling Back After Considerable Rally - 11/13/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | PAY - NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr | $34.61 | -2.54
-6.84% | $37.42 | 748,506
207.34% of 50 DAV
50 DAV is 361,000 | $38.94
-11.12%
| 10/17/2024 | $26.15 | PP = $25.31 | | MB = $26.58 | Most Recent Note - 12/6/2024 2:57:47 PM
G - Pulling back with higher volume today for a big 4th consecutive loss. It has been repeatedly noted as "extended from any sound base." Bullish action came after it reported Sep '24 quarterly earnings +67% on +52% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After Considerable Spike Higher - 11/14/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | RMD - NYSE
Resmed Inc
HEALTH SERVICES - Medical Appliances and Equipment | $241.41 | +2.00
0.84% | $245.13 | 462,436
47.71% of 50 DAV
50 DAV is 969,200 | $260.49
-7.32%
| 10/25/2024 | $256.64 | PP = $255.28 | | MB = $268.04 | Most Recent Note - 12/5/2024 5:22:44 PM
G - Color code is changed to green after today''s loss on below-average volume led to a close below its 50 DMA line ($242). A prompt rebound above the 50 DMA line is needed for its outlook to improve. Little resistance remains due to overhead supply.
>>> FEATURED STOCK ARTICLE : Recent Slump Below 50-Day Moving Average Raised Concerns - 11/18/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | ATGE - NYSE
Adtalem Global Education
Consumer Svcs-Education | $91.20 | -0.49
-0.53% | $92.10 | 361,193
104.69% of 50 DAV
50 DAV is 345,000 | $92.93
-1.86%
| 10/30/2024 | $83.34 | PP = $80.28 | | MB = $84.29 | Most Recent Note - 12/4/2024 6:52:16 PM
G - Hovering near its all-time high with light volume on most sessions in recent weeks. Prior highs in the $80 area define initial support to watch on pullbacks. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hovering Near High With Volume Totals Cooling - 12/4/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | TW - NASDAQ
Tradeweb Markets
Financial Svcs-Specialty | $130.84 | -5.28
-3.88% | $137.36 | 1,121,520
132.57% of 50 DAV
50 DAV is 846,000 | $141.69
-7.66%
| 11/19/2024 | $134.41 | PP = $136.23 | | MB = $143.04 | Most Recent Note - 12/6/2024 2:55:55 PM
Y - Today''s loss is testing support at its 50 DMA line ($131.49). Hit a new all-time high on the prior session but churned +67% above average volume and ended in the lower third of its intra-day range. Since recently featured it has not produced a volume-driven gain above the pivot point to trigger a proper technical buy signal. It was highlighted in yellow with pivot point cited based on its 10/15/24 high plus 10 cents.
>>> FEATURED STOCK ARTICLE : Tradeweb Markets Perched Near High - 11/19/2024 | 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 |
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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***
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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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