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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 9TH, 2020
Previous After Market Report Next After Market Report >>>
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DOW |
-105.07 |
30,068.81 |
-0.35% |
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Volume |
1,054,094,392 |
+16% |
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Volume |
5,117,802,500 |
+7% |
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NASDAQ |
-230.54 |
12,352.24 |
-1.83% |
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Advancers |
1,545 |
51% |
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Advancers |
1,285 |
35% |
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S&P 500 |
-29.43 |
3,672.82 |
-0.79% |
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Decliners |
1,506 |
49% |
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Decliners |
2,347 |
65% |
|
Russell 2000 |
-15.63 |
1,902.15 |
-0.82% |
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52 Wk Highs |
335 |
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52 Wk Highs |
439 |
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S&P 600 |
-0.94 |
1,089.84 |
-0.09% |
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52 Wk Lows |
2 |
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52 Wk Lows |
13 |
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Tech Heavy Nasdaq Composite Index Outpaced Peers on Pullback
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow declined 105 points, while the S&P 500 slid 0.8%. The Tech-heavy Nasdaq Composite slumped 1.9%, its biggest one-day drop since late October. Meanwhile, the large-cap Nasdaq 100 slid 2.2%, snapping a 10 session winning streak. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Advancers narrowly led decliners on the NYSE but decliners led advancers by almost 2-1 on the Nasdaq exchange. There were 91 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 92 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows totals on both exchanges. 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 Nasdaq Composite Index retreated from its record high.
Stocks ended lower on Wednesday, falling from intraday record highs reached earlier in the session. The major averages reversed the early gains amid mixed fiscal stimulus updates from Washington, and no real progress being reported. Losses steepened as mega-cap Tech and internet related stocks weakened following news the U.S. Federal Trade Commission and a coalition of 48 states sued Facebook (FB -1.93%) for antitrust violations.
Eight of 11 S&P 500 sectors finished in negative territory. Information Technology lagged the most, with chipmakers within the group falling 2.5%. Communication Services also underperformed. In earnings, Campbell Soup (CPB -2.03%) fell despite the food maker topping Wall Street profit and sales estimates and raising its quarterly dividend. GameStop (GME -19.36%) fell after posting lower-than-anticipated revenue amid intensifying competition from digital competitors. Elsewhere, FireEye (FEYE -13.08%) fell on news the cybersecurity company’s systems were breached by hackers.
On the data front, the Job Openings and Labor Turnover Survey (JOLTS) showed U.S. job openings unexpectedly rose to 6.7 million in October from an upwardly revised 6.5 million the prior month. Treasuries modestly declined, with the yield on the 10-year note adding one basis points to 0.93%. In commodities, WTI crude added less than 0.1% to $45.65/barrel as investors digested an official government report that showed U.S. stockpiles surged by 15.2 million barrels, which was the biggest weekly build since April. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech Sector and Gold & Silver Index Suffered Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.64%) edged lower and the Broker/Dealer Index ($XBD -0.13%) ended slightly in the red while the Bank Index ($BKX +0.21%) eked out a small gain. The Semiconductor Index ($SOX -2.88%), Biotech Index ($BTK -2.22%), and Networking Index ($NWX -1.88%) suffered unanimous losses. The Gold & Silver Index ($XAU -2.57%) slumped and the Oil Services Index ($OSX -0.68%) edged lower, meanwhile the Integrated Oil Index ($XOI +0.57%) eked out a small gain.
PICTURED: The Bank Index ($BKX +0.21%) recently rose above its June high.
| Oil Services |
$OSX |
45.16 |
-0.31 |
-0.68% |
-42.32% |
| Integrated Oil |
$XOI |
820.73 |
+4.66 |
+0.57% |
-35.40% |
| Semiconductor |
$SOX |
2,735.05 |
-81.22 |
-2.88% |
+47.87% |
| Networking |
$NWX |
663.48 |
-12.68 |
-1.88% |
+13.72% |
| Broker/Dealer |
$XBD |
363.28 |
-0.48 |
-0.13% |
+25.11% |
| Retail |
$RLX |
3,445.49 |
-22.19 |
-0.64% |
+40.67% |
| Gold & Silver |
$XAU |
139.61 |
-3.69 |
-2.57% |
+30.58% |
| Bank |
$BKX |
95.06 |
+0.20 |
+0.21% |
-16.14% |
| Biotech |
$BTK |
5,446.59 |
-123.69 |
-2.22% |
+7.48% |
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Still Below 50-Day Average After Volume-Driven Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Veeva Systems Inc Cl A (VEEV -$10.67 or -3.96% to $258.87) is still sputtering below its 50-day moving average (DMA) line ($282). Today's big loss on higher volume led to the lowest close since August, raising greater concerns while nearly testing the prior low ($253.42 on 11/10/20). It will be dropped from the Featured Stocks list tonight. It faces resistance due to overhead supply up to the $314 area. Recent volume-driven losses triggered technical sell signals. A rebound above the 50 DMA line is needed for its outlook to improve. Fundamentals remain strong after it reported Oct '20 quarterly earnings +30% on +34% sales revenues versus the year ago period. VEEV was highlighted in yellow with new pivot point cited based on its 9/02/20 high plus 10 cents in the 10/06/20 mid-day report (read here). It was last shown in this FSU section on 11/16/20 with an annotated graph under the headline, "Weak Technical Action Raised Recent Concerns" . It had not spent much time base building since it first began wedging into new high territory back in April.
Veeva still has the highest possible 99 Earnings Per Share (EPS) rank and it has an 83 Relative Strength (RS) rating. Both of those ratings must be above 80 for a stock to meet the guidelines for consideration. The past 3 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Its annual earnings (A criteria) history has been strong.
There are 134.4 million shares (S criteria) in the publicly traded float. The number of top-rated funds owning its shares rose from 814 in Jun '18 to 1,602 in Sep '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 0.9 is an unbiased indication its shares have beenunder slight distributional pressure over the past 50 days.
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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
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$240.34
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-1.75
-0.72% |
$242.57
|
341,965
108.22% of 50 DAV
50 DAV is 316,000
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$257.88
-6.80%
|
7/15/2020
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$192.66
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PP = $189.95
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MB = $199.45
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Most Recent Note - 12/7/2020 7:02:59 PM
G - Still consolidating above its 50 DMA line ($234.72) which has been acting as support. 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 : Consolidating Near Important Support Levels - 11/23/2020 |
View all notes |
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C
A
S
I |
AMD
-
NASDAQ
Advanced Micro Devices
ELECTRONICS - Semiconductor - Broad Line
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$89.83
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-3.09
-3.33% |
$94.70
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51,936,074
104.99% of 50 DAV
50 DAV is 49,466,000
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$96.37
-6.79%
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11/18/2020
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$82.54
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PP = $88.72
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MB = $93.16
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Most Recent Note - 12/9/2020 12:45:37 PM
G - Volume totals are cooling while still stubbornly holding ground perched at its all-time high. Its 50 DMA line ($84.14) defines important near term support to watch on pulllbacks.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind AMD's Breakout from Double Bottom Base - 11/30/2020 |
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C
A
S
I |
TER
-
NASDAQ
Teradyne Inc
ELECTRONICS - Semiconductor Equipment and Mate
|
$114.02
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-4.65
-3.92% |
$118.22
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1,552,591
102.55% of 50 DAV
50 DAV is 1,514,000
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$118.96
-4.15%
|
10/21/2020
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$92.22
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PP = $93.54
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MB = $98.22
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Most Recent Note - 12/7/2020 7:08:00 PM
G - Posted a small gain today with below average volume for another new all-time high. Support to watch on pullbacks is its 50 DMA line and prior highs in the $93 area. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Stubbornly Holding Ground and Rising for a New High - 12/7/2020 |
View all notes |
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C
A
S
I |
TREX
-
NYSE
Trex Company Inc
MATERIALS and CONSTRUCTION - General Building Materials
|
$77.17
|
+1.40
1.85% |
$79.30
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780,955
106.83% of 50 DAV
50 DAV is 731,000
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$81.23
-5.00%
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6/26/2020
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$54.53
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PP = $66.47
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MB = $69.79
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Most Recent Note - 12/9/2020 12:40:35 PM
G - Gapped up today and it is perched within striking distance of its 52-week high. Its 50 DMA line ($74.56) defines near-term support. 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 : Consolidating Back Above 50-Day Moving Average Line - 12/1/2020 |
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C
A
S
I |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
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$25.07
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-0.53
-2.07% |
$25.89
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146,093
158.80% of 50 DAV
50 DAV is 92,000
|
$26.54
-5.54%
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11/17/2020
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$22.06
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PP = $26.07
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MB = $27.37
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Most Recent Note - 12/7/2020 7:06:11 PM
Y - Posting a big gain today with +66% above average volume challenging its 52-week high. Near term support is defined by its 50 DMA line ($22.56) and an upward trendline. Gains and a close above the pivot point marked by +40% above average volume are needed to trigger a proper technical buy signal.
>>> 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 |
NOW
-
NYSE
Servicenow Inc
Computer Sftwr-Enterprse
|
$527.99
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-14.26
-2.63% |
$545.00
|
1,630,831
125.55% of 50 DAV
50 DAV is 1,299,000
|
$544.05
-2.95%
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8/20/2020
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$453.34
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PP = $454.79
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MB = $477.53
|
Most Recent Note - 12/7/2020 7:04:35 PM
G - Perched near ita all-time high after finding prompt support near its 50 DMA line. 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 : Consolidating Above 50-Day Average Still Perched Near All-Time High - 11/24/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$258.87
|
-10.67
-3.96% |
$265.12
|
1,508,509
159.80% of 50 DAV
50 DAV is 944,000
|
$313.99
-17.55%
|
10/6/2020
|
$287.71
|
PP = $298.86
|
|
MB = $313.80
|
Most Recent Note - 12/9/2020 5:51:42 PM
Fell further below its 50 DMA line ($282) with today's big loss on above average volume raising concerns. It will be dropped from the Featured Stocks list tonight. Faces resistance due to overhead supply up to the $314 area. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Still Below 50-Day Average After Volume-Driven Losses - 12/9/2020 |
View all notes |
Set NEW NOTE alert |
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C
A
S
I |
ALRM
-
NASDAQ
Alarm.com Holdings Inc
Security/Sfty
|
$76.32
|
-3.62
-4.53% |
$80.75
|
333,975
96.25% of 50 DAV
50 DAV is 347,000
|
$80.99
-5.77%
|
11/6/2020
|
$71.88
|
PP = $74.76
|
|
MB = $78.50
|
Most Recent Note - 12/9/2020 12:44:42 PM
G - Perched near its all-time high stubbornly holding its ground. Prior high ($74.66 on 7/23/20) defnes initial support to watch above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Alarm Hits a New Record High - 12/4/2020 |
View all notes |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$223.54
|
-6.30
-2.74% |
$229.97
|
1,435,359
75.15% of 50 DAV
50 DAV is 1,910,000
|
$235.17
-4.95%
|
10/12/2020
|
$193.77
|
PP = $199.60
|
|
MB = $209.58
|
Most Recent Note - 12/8/2020 7:18:33 PM
G - Extended from any sound base, it posted another gain with below average volume today for a new all-time high and best-ever close. 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 : Quiet Volume Behind Gain Today for a New All-Time High - 11/27/2020 |
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C
A
S
I |
YETI
-
NYSE
Yeti Holdings Inc
Leisure-Products
|
$69.62
|
+2.52
3.76% |
$71.49
|
2,206,400
186.04% of 50 DAV
50 DAV is 1,186,000
|
$67.54
3.08%
|
11/5/2020
|
$57.25
|
PP = $55.14
|
|
MB = $57.90
|
Most Recent Note - 12/9/2020 12:38:43 PM
G - Extended from any sound base and posting another big gain today with above average volume while hitting another new all-time high. Prior highs in the $55-54 area define initial support to watch coinciding with its 50 DMA line ($55.33).
>>> FEATURED STOCK ARTICLE : Volume Totals Cooloing While Stubbornly Holding Ground at High - 12/2/2020 |
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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 |
BJ
-
NYSE
BJs Wholesale Club Hldgs
Retail-DiscountandVariety
|
$37.70
|
-1.02
-2.63% |
$39.35
|
2,140,975
93.84% of 50 DAV
50 DAV is 2,281,400
|
$47.46
-20.56%
|
11/19/2020
|
$42.97
|
PP = $47.56
|
|
MB = $49.94
|
Most Recent Note - 12/9/2020 12:47:02 PM
G - Still sputtering below its 50 DMA line ($40.65). A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Rebounding Near High With 3rd Strong Quarterly Report - 11/19/2020 |
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C
A
S
I |
AAXN
-
NASDAQ
Axon Enterprise Inc
Security/Sfty
|
$123.19
|
-2.37
-1.89% |
$128.88
|
401,224
76.86% of 50 DAV
50 DAV is 522,000
|
$130.41
-5.54%
|
11/6/2020
|
$122.75
|
PP = $113.00
|
|
MB = $118.65
|
Most Recent Note - 12/9/2020 12:42:46 PM
G - Still hovering in a tight range near its all time high with volume totals cooling. Wedged to new high territory with gains lacking volume conviction. Its 50 DMA line ($111) defines near term support to watch on pullbacks. Recently reported Sep '20 quarterly earnings +43% on +27% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Hovering Near All-Time High - 12/3/2020 |
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C
A
S
I |
QTWO
-
NYSE
Q2 Holdings Inc
Computer Sftwr-Financial
|
$113.00
|
-1.73
-1.51% |
$115.48
|
426,925
105.94% of 50 DAV
50 DAV is 403,000
|
$119.97
-5.81%
|
11/12/2020
|
$105.14
|
PP = $106.54
|
|
MB = $111.87
|
Most Recent Note - 12/8/2020 7:16:58 PM
G - Posted a small gain today with above average volume while hovering above its "max buy" level and near its all-time high. Prior high in the $106 area and its 50 DMA line ($102) define important near term suport to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Computer Software - Financial Firm Hovering Near Record High - 12/8/2020 |
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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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