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AFTER MARKET UPDATE - THURSDAY, DECEMBER 12TH, 2024
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DOW |
-234.44 |
43,914.12 |
-0.53% |
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Volume |
889,364,641 |
-19% |
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Volume |
7,255,905,700 |
+5% |
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NASDAQ |
-132.05 |
19,902.84 |
-0.66% |
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Advancers |
725 |
26% |
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Advancers |
1,254 |
29% |
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S&P 500 |
-32.94 |
6,051.25 |
-0.54% |
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Decliners |
2,031 |
74% |
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Decliners |
3,066 |
71% |
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Russell 2000 |
-33.08 |
2,361.08 |
-1.38% |
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52 Wk Highs |
66 |
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52 Wk Highs |
124 |
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S&P 600 |
-12.59 |
1,498.23 |
-0.83% |
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52 Wk Lows |
65 |
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52 Wk Lows |
168 |
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Breadth Negative as Major Indices Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (-0.5%), Nasdaq Composite (-0.7%), and Dow Jones Industrial Average (-0.5%) closed with losses. The Russell 2000 underperformed, dropping -1.3%. Volume was mixed, lighter than the prior session total on the NYSE and higher than the prior session on the Nasdaq exchange. Breadth was negative as decliners led advancers by almost a 3-1 margin at the NYSE and by a 5-2 margin at the Nasdaq exchange. There were 39 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 39 on the prior session. New 52-week highs and new 52-week lows were evenly matched on the NYSE while new lows outnumbered new highs 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 S&P 500 Index pulled back from its all-time high.
Disappointing FY25 guidance from Adobe (ADBE -13.7%) weighed on the market's mood. The latest economic reports revealed a softening labor market and rising inflation at the producer level. Weekly initial jobless claims increased to 242,000 from 225,000 and continuing claims increased to 1.886 million from 1.871 million.
The November Producer Price Index (PPI) report showed the index for final demand was up 3.0% year-over-year versus 2.6% in October. Excluding food and energy, the index for final demand was up 3.4% year-over-year (3.45% unrounded versus 3.37% in October). In other news, the ECB's cut its key policy rates by 25 basis points, as expected.
The 10-yr Treasury note yield jumped five basis points to 4.32% and the 2-yr yield settled three basis points higher at 4.19%.
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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, Financial, and Commodity-Linked Groups Led Decliners
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.69%), Broker/Dealer Index ($XBD -0.26%), and the Bank Index ($BKX -0.51%) ended lower. The tech sector was mixed as the Semiconductor Index ($SOX -0.91%) and the Biotech Index ($BTK -0.51%) both fell. Commodity-linked groups had a negative bias as the Gold & Silver Index ($XAU -3.66%) and Oil Services Index ($OSX -2.01%) both outpaced the Integrated Oil Index ($XOI -1.41%) to the downside.
PICTURED: The Networking Index ($NWX +1.39%) posted a solid gain, making steady progress since testing support at its 50-day moving average line.
| Oil Services |
$OSX |
75.58 |
-1.55 |
-2.01% |
-9.90% |
| Integrated Oil |
$XOI |
1,829.40 |
-26.13 |
-1.41% |
-1.78% |
| Semiconductor |
$SOX |
4,982.19 |
-45.60 |
-0.91% |
+19.32% |
| Networking |
$NWX |
1,261.02 |
+17.23 |
+1.39% |
+51.42% |
| Broker/Dealer |
$XBD |
833.37 |
-2.17 |
-0.26% |
+49.54% |
| Retail Index |
$RLX |
5,390.10 |
-37.44 |
-0.69% |
+38.61% |
| Gold & Silver |
$XAU |
151.54 |
-5.76 |
-3.66% |
+20.57% |
| Bank |
$BKX |
132.33 |
-0.67 |
-0.51% |
+37.81% |
| Biotech |
$BTK |
5,919.02 |
-78.48 |
-1.31% |
+9.23% |
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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 |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$149.13
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+2.56
1.75% |
$151.16
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73,661
78.36% of 50 DAV
50 DAV is 94,000
|
$159.53
-6.52%
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9/17/2024
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$71.26
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PP = $87.23
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MB = $91.59
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Most Recent Note - 12/9/2024 1:16:07 PM
G - Pulling back from its all-time high with today's 4th loss in the span of 5 sessions backed by above-average volume. Its 50 DMA line ($122.62) defines important near-term support to watch on pullbacks. It has been noted repeatedly as - "Very extended from any sound base".
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Impressive Rally - 11/12/2024 |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$95.52
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-1.62
-1.67% |
$98.14
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609,284
96.71% of 50 DAV
50 DAV is 630,000
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$105.20
-9.20%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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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 |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$189.75
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-2.86
-1.48% |
$192.74
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395,928
56.80% of 50 DAV
50 DAV is 697,000
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$206.04
-7.91%
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7/26/2024
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$173.08
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PP = $175.82
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MB = $184.61
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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 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$113.70
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-2.38
-2.05% |
$116.39
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2,119,485
91.48% of 50 DAV
50 DAV is 2,317,000
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$120.71
-5.81%
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7/30/2024
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$93.95
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PP = $85.52
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MB = $89.80
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Most Recent Note - 12/12/2024 9:05:36 PM
G - Pulled back today with lighter volume. Retreating from its all-time high after getting extended from any sound base. Its prior high ($106.93 on 10/21/24) and 50 DMA line ($109.47) define near-term support levels to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched at High - 12/5/2024 |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$43.38
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-0.46
-1.05% |
$44.65
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114,114
109.73% of 50 DAV
50 DAV is 104,000
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$47.57
-8.81%
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11/5/2024
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$30.57
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PP = $30.42
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MB = $31.94
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Most Recent Note - 12/12/2024 9:06:46 PM
G - Consolidating near its all-time high, extended from any sound base. 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 |
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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 |
CLS
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NYSE
Celestica
Elec-Contract Mfg
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$91.01
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+1.04
1.16% |
$92.43
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1,447,212
58.73% of 50 DAV
50 DAV is 2,464,000
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$96.00
-5.20%
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10/11/2024
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$57.62
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PP = $63.59
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MB = $66.77
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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 |
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News |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
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$34.96
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+1.33
3.95% |
$35.14
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540,199
135.39% of 50 DAV
50 DAV is 399,000
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$38.94
-10.22%
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10/17/2024
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$26.15
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PP = $25.31
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MB = $26.58
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Most Recent Note - 12/10/2024 4:54:51 PM
G - Pulled back with higher volume today for a big 6th consecutive loss. Its 50 DMA line ($28.54) defines important near-term support to watch. 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 |
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C
A
S
I |
RMD
-
NYSE
Resmed Inc
HEALTH SERVICES - Medical Appliances and Equipment
|
$242.51
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-3.27
-1.33% |
$247.93
|
922,342
102.10% of 50 DAV
50 DAV is 903,400
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$260.49
-6.90%
|
10/25/2024
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$256.64
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PP = $255.28
|
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MB = $268.04
|
Most Recent Note - 12/12/2024 9:08:38 PM
G - Pulled back today with higher (near average) volume, sputtering near its 50 DMA line ($242). Its Relative Strength Rating has slumped to 73, below the 80+ minimum guideline for buy candidates, raisingb concerns.
>>> FEATURED STOCK ARTICLE : Recent Slump Below 50-Day Moving Average Raised Concerns - 11/18/2024 |
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C
A
S
I |
ATGE
-
NYSE
Adtalem Global Education
Consumer Svcs-Education
|
$89.40
|
+0.60
0.68% |
$89.99
|
331,698
95.59% of 50 DAV
50 DAV is 347,000
|
$92.93
-3.80%
|
10/30/2024
|
$83.34
|
PP = $80.28
|
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MB = $84.29
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Most Recent Note - 12/9/2024 2:09:21 PM
G - Pulling back from its all-time high with light volume behind today's loss and on most down sessions in recent weeks. Its 50 DMA line ($81.70) defines initial support above prior highs in the $80 area. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hovering Near High With Volume Totals Cooling - 12/4/2024 |
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C
A
S
I |
TW
-
NASDAQ
Tradeweb Markets
Financial Svcs-Specialty
|
$132.48
|
+1.70
1.30% |
$133.32
|
944,136
107.41% of 50 DAV
50 DAV is 879,000
|
$141.69
-6.50%
|
11/19/2024
|
$134.41
|
PP = $136.23
|
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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 |
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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 |
ATAT
-
NASDAQ
Atour Lifestyle Hldgs ADR
Leisure-Lodging
|
$27.99
|
+0.21
0.74% |
$28.85
|
1,339,078
100.61% of 50 DAV
50 DAV is 1,331,000
|
$29.90
-6.40%
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12/9/2024
|
$29.34
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PP = $29.25
|
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MB = $30.71
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Most Recent Note - 12/10/2024 4:54:13 PM
Y - Abruptly retreated today, promptly negating the prior breakout, raising concerns. Finished strong on the prior session after highlighted in yellow with pivot point based on its 10/07/24 high plus 10 cents. Hit a new all-time high with today's gap up and big volume-driven gain after consolidating near its 50 DMA line ($26.62). The strong close above its pivot point may clinched a proper technical buy signal. Through Sep '24 this China-based hotel operator's quarterly and annual earnings growth has been strong.
>>> FEATURED STOCK ARTICLE : Volume Above Average Behind Breakout Gain - 12/9/2024 |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$232.48
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-1.37
-0.59% |
$236.16
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1,093,061
104.95% of 50 DAV
50 DAV is 1,041,500
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$258.93
-10.22%
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12/9/2024
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$250.70
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PP = $240.68
|
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MB = $252.71
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Most Recent Note - 12/9/2024 1:24:01 PM
Y - Color code is changed to yellow with pivot point cited based on its 11/08/24 high Consolidating today following a "breakaway gap" up on the prior session for a new 52-week high as it triggered a technical buy signal. Reported Oct '24 quarterly earnings +31% on +13% sales revenues versus the year-ago period, its 3rd consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria). Annual earnings growth has been strong. It was dropped from the Featured Stocks list on 12/09/20.
>>> FEATURED STOCK ARTICLE : Veeva Systems Consolidating After "Breakaway Gap" - 12/10/2024 |
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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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