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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 14TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
-118.68 |
19,792.53 |
-0.60% |
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Volume |
1,245,034,930 |
+15% |
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Volume |
1,787,670,070 |
-6% |
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NASDAQ |
-27.16 |
5,436.67 |
-0.50% |
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Advancers |
582 |
20% |
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Advancers |
899 |
28% |
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S&P 500 |
-18.44 |
2,253.28 |
-0.81% |
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Decliners |
2,401 |
80% |
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Decliners |
2,321 |
72% |
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Russell 2000 |
-17.51 |
1,356.02 |
-1.27% |
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52 Wk Highs |
101 |
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52 Wk Highs |
123 |
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S&P 600 |
-10.44 |
838.49 |
-1.23% |
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52 Wk Lows |
58 |
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52 Wk Lows |
61 |
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Loss Broke Winning Streak After Fed Raised Target Rates
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks declined on Wednesday. The Dow was down 118 points to 19792. The S&P 500 lost 18 points to 2253 and the Nasdaq Composite fell 27 points to 5436. Volume totals were mixed, higher than the prior session total on the NYSE and lighter on the Nasdaq exchange. Breadth was negative as decliners led advancers by a 4-1 margin on the NYSE and by 12-5 on the Nasdaq exchange. There were 34 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 49 on the prior session. New 52-week highs contracted but still solidly outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.
PICTURED: The Dow Jones Industrial Average's loss broke a 7-day winning streak into record high territory.
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 finished lower while U.S. Treasuries sold-off after the Federal Reserve increased its target for interest rates for the second time in a decade. The central bank raised its target range from 0.25%-0.5% to a range of 0.5%-0.75%. In addition, Fed officials forecast a steeper path for borrowing costs in 2017, stating that inflation expectations have increased considerably. On the data front, a gauge of inflation showed that producer prices increased 0.4% in November while retail sales rose 0.1%.
All 11 sectors in the S&P 500 finished in negative territory. Utilities shares underperformed along with Energy and Real Estate stocks. Big banks caught a boost amid the rate hike with Goldman Sachs (GS +0.58%) edging higher. Technology stocks pared losses to finish modestly lower on the session. Shares of Alphabet (GOOGL +0.33%) inched higher.
Treasuries declined along the curve Wednesday. The benchmark 10-year note fell 29/32 to yield 2.57%, the highest since 2014. At the short end of the curve, the two-year Treasury yield reached the highest since 2009. In commodities, NYMEX WTI crude retreated 3.9% to $50.89/barrel. COMEX gold added 0.4% to $1161.30/ounce. In FOREX, the Dollar Index erased early losses and surged 1.3% higher against its peers. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups and Retailers Led Retreat
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.88%) and Bank Index ($BKX -0.32%) both edged lower while the Broker/Dealer Index ($XBD -0.01%) was unchanged on Wednesday. The tech sector was mixed as the Semiconductor Index ($SOX -0.14%) and the Networking Index ($NWX -0.26%) edged lower and the Biotechnology Index ($BTK +0.31%) posted a small gain. Commodity-linked groups had a negative bias as the Oil Services Index ($OSX -3.08%), Integrated Oil Index ($XOI -2.13%), and the Gold & Silver Index ($XAU -5.14%) each ended solidly lower. Charts courtesy www.stockcharts.com
 PICTURED: The Integrated Oil Index ($XOI -2.13%) lost ground, breaking a 10-day winning streak.
| Oil Services |
$OSX |
186.58 |
-5.92 |
-3.08% |
+18.29% |
| Integrated Oil |
$XOI |
1,270.02 |
-27.67 |
-2.13% |
+18.39% |
| Semiconductor |
$SOX |
894.28 |
-1.27 |
-0.14% |
+34.79% |
| Networking |
$NWX |
448.95 |
-1.17 |
-0.26% |
+19.42% |
| Broker/Dealer |
$XBD |
210.64 |
+0.02 |
+0.01% |
+18.28% |
| Retail |
$RLX |
1,385.63 |
-12.28 |
-0.88% |
+7.96% |
| Gold & Silver |
$XAU |
77.02 |
-4.17 |
-5.14% |
+70.02% |
| Bank |
$BKX |
91.58 |
-0.30 |
-0.33% |
+25.31% |
| Biotech |
$BTK |
3,152.00 |
+9.76 |
+0.31% |
-17.36% |
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Financial Firm Remains Extended Well Above Prior Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
ServisFirst Bancshares Inc (SFBS -$0.97 or -1.34% to $71.21) has recently been churning above average volume while pulling back from all-time highs. It remains very extended from its prior base. Its 50-day moving average (DMA) line ($61.38) defines important support to watch on pullbacks. It was last shown in this FSU section on 11/22/16 with an annotated graph under the headline, "Very Extended From Prior Base Following Post-Election Gains". It got a burst of momentum along with many other Financial stocks following the election.
SFBS reported earnings +28% on +18% sales revenues for the Sep '16 quarter, its 4th consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it match the fact-based investment system's guidelines. Earnings rose +28%, +34%, and +31% in the Dec '15, Mar and Jun '16 quarters, respectively, and underlying sales revenues growth has been in the +17-26% range. Its annual earnings (A criteria) history has been strong.
The number of top-rated funds owning its shares rose from 159 in Sep '15 to 232 in Sep '16, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. Its small supply of only 23.1 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. |
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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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$24.54
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+0.08
0.33% |
$24.80
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208,201
79.16% of 50 DAV
50 DAV is 263,000
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$25.74
-4.67%
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10/10/2016
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$18.20
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PP = $18.37
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MB = $19.29
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Most Recent Note - 12/13/2016 5:48:09 PM
G - Perched near all-time highs following a streak of volume-driven gains, very extended from any sound base. Its 50 DMA line ($20.39) defines near-term support above prior highs in the $19 area.
>>> FEATURED STOCK ARTICLE : Very Extended From Base Following Additional Gains on Volume - 12/2/2016 |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$20.30
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-1.35
-6.24% |
$21.35
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126,233
138.72% of 50 DAV
50 DAV is 91,000
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$23.00
-11.74%
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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 - 12/14/2016 3:53:24 PM
G - Pulling back today for a 2nd consecutive volume-driven loss, retreating from its 52-week high. Reported very strong Sep '16 quarterly sales revenues and earnings increases. It is extended from its prior base and 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
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$50.52
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-0.23
-0.45% |
$51.51
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1,362,814
88.61% of 50 DAV
50 DAV is 1,538,000
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$51.39
-1.69%
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11/30/2016
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$50.26
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PP = $46.47
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MB = $48.79
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Most Recent Note - 12/12/2016 5:10:26 PM
G - Posted a gain today with below above average volume for another new high. There was a "breakaway gap" on 11/29/16, powering to new 52-week highs with considerable volume-driven gains. Prior highs in the $46 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pulling Back After "Breakaway Gap" With Heavy Volume - 12/1/2016 |
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C
A
S
I |
EVR
-
NYSE
Evercore Partners Inc
FINANCIAL SERVICES - Investment Banking
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$68.60
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-0.90
-1.29% |
$69.95
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418,825
94.76% of 50 DAV
50 DAV is 442,000
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$71.97
-4.68%
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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 - 12/9/2016 3:32:35 PM
G - Perched near all-time highs, very extended from its prior base. Disciplined investors avoid chasing extended stocks. Prior highs and its 50 DMA line define important support in the $59-60 area.
>>> FEATURED STOCK ARTICLE : Hit Another New High Today With Volume-Driven Gain - 12/5/2016 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$50.81
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-2.55
-4.78% |
$53.50
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640,531
405.40% of 50 DAV
50 DAV is 158,000
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$54.23
-6.31%
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9/29/2016
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$46.12
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PP = $47.82
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MB = $50.21
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Most Recent Note - 12/14/2016 3:56:59 PM
G - Pulling back today for a big loss on heavy volume. Prior highs near $47 define initial support to watch. After getting extended from its prior base it was repeatedly noted with caution in prior reports - "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 : Mostly Bullish Action Continues to Bode Well for China Lodging - 12/9/2016 |
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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 |
DW
-
NYSE
Drew Industries Inc
MATERIALS and CONSTRUCTION - General Building Materials
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$107.85
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-0.15
-0.14% |
$109.00
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135,267
54.76% of 50 DAV
50 DAV is 247,000
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$110.50
-2.40%
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11/29/2016
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$106.29
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PP = $101.00
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MB = $106.05
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Most Recent Note - 12/13/2016 5:49:28 PM
G - Touched a new high today but reversed into the red. Stubbornly holding its ground just above its "max buy" level. Prior highs in the $101-103 area define initial support to watch on pullbacks.
>>> 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
|
$23.61
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+0.21
0.88% |
$23.85
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129,720
87.65% of 50 DAV
50 DAV is 148,000
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$24.99
-5.54%
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10/27/2016
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$21.03
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PP = $22.60
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MB = $23.73
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Most Recent Note - 12/9/2016 3:36:19 PM
G - Color code is changed to green after rallying today with above average volume, rising back above its "max buy" level to challenge all-time highs. Recent lows in the $22 area and its 50 DMA line ($21.64) define important support to watch on pullbacks.
>>> 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
|
$72.45
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-0.70
-0.96% |
$74.35
|
119,468
109.60% of 50 DAV
50 DAV is 109,000
|
$75.53
-4.08%
|
11/29/2016
|
$72.45
|
PP = $69.63
|
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MB = $73.11
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Most Recent Note - 12/13/2016 5:51:12 PM
G - Encountered distributional pressure as it pulled back with above average volume today finishing near its "max buy" level. Prior highs in the $69 area define initial support to watch on pullbacks.
>>> 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
|
$97.88
|
+2.85
3.00% |
$98.90
|
1,430,170
204.31% of 50 DAV
50 DAV is 700,000
|
$98.79
-0.92%
|
11/21/2016
|
$93.80
|
PP = $88.66
|
|
MB = $93.09
|
Most Recent Note - 12/14/2016 4:01:38 PM
G - Rallied further above its "max buy" level and hit a new high with today's volume-driven gain. 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 |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$71.21
|
-0.97
-1.34% |
$72.50
|
216,359
181.81% of 50 DAV
50 DAV is 119,000
|
$75.84
-6.10%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 12/14/2016 5:11:08 PM
G - Churning more above average volume while pulling back from all-time highs. Very extended from its prior base. Its 50 DMA line ($61.38) defines important support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Financial Firm Remains Extended Well Above Prior Highs - 12/14/2016 |
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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 |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$29.80
|
-0.05
-0.17% |
$29.85
|
692,396
80.89% of 50 DAV
50 DAV is 856,000
|
$32.75
-9.01%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
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Most Recent Note - 12/12/2016 5:12:21 PM
Y - Color code is changed to yellow after slumping below its "max buy" level with above average volume behind 3 consecutive losses. Prior highs in the $28 area define important support to watch coinciding with its 50 DMA line.
>>> 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 |
LITE
-
NASDAQ
Lumentum Holdings Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$38.90
|
-1.60
-3.95% |
$40.75
|
1,476,643
144.77% of 50 DAV
50 DAV is 1,020,000
|
$45.25
-14.03%
|
12/8/2016
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$42.80
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PP = $45.35
|
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MB = $47.62
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Most Recent Note - 12/14/2016 4:00:05 PM
G - Color code is changed to green while slumping below its 50 DMA line ($39.70) with a loss on above average volume. Only a prompt rebound of the 50 DMA line would help its outlook improve. Little resistance remains due to overhead supply. Volume-driven gains for new highs may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Challenging its High With Big Volume-Driven Gain - 12/8/2016 |
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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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