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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 20TH, 2017
Previous After Market Report Next After Market Report >>>
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DOW |
-28.10 |
24,726.65 |
-0.11% |
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Volume |
776,517,700 |
-8% |
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Volume |
1,864,757,271 |
-10% |
|
NASDAQ |
-2.89 |
6,960.96 |
-0.04% |
|
Advancers |
1,462 |
50% |
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Advancers |
1,407 |
51% |
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S&P 500 |
-2.22 |
2,679.25 |
-0.08% |
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Decliners |
1,463 |
50% |
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Decliners |
1,329 |
49% |
|
Russell 2000 |
+3.33 |
1,540.08 |
+0.22% |
|
52 Wk Highs |
156 |
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52 Wk Highs |
117 |
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S&P 600 |
+1.58 |
938.20 |
+0.17% |
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52 Wk Lows |
35 |
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52 Wk Lows |
44 |
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Indices Edged Lower as Congress Approved Tax Cuts and Jobs Act
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
U.S. equities finished modestly lower Wednesday. The Dow lost 28 points to 24726. The S&P 500 was down 2 points to 2679. The Nasdaq Composite lost 2 points to 6960. Volume totals reported were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Advancers and decliners were evenly mixed on the NYSE and on the Nasdaq exchange. There were 60 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 66 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The Featured Stocks Page provides the latest analysis on noteworthy high-ranked leaders. Charts used courtesy of www.stockcharts.com
 PICTURED: The S&P 600 Small Cap Index is perched near its record high, recently finding support near its 50-day moving average (DMA) line and prior highs.
The major averages (M criteria) are in a confirmed uptrend. Investors should only consider stocks meeting all key criteria of the fact-based investment system as they trigger technical buy signals.
The major averages were little changed as Congress gave final approval to the Tax Cuts and Jobs Act. Following a procedural snag, the House re-voted to approve the bill by a margin of 224-201, which means the bill now only requires President Trump’s signature to become law. On the data front, MBA mortgage applications fell 4.9% in the week ending December 15, following a 2.3% decline in the week prior. A separate report revealed existing home sales jumped 5.6% in November, near the highest level in 11 years.
Seven of 11 sectors in the S&P 500 finished lower, with Energy a notable outperformer. ConocoPhillips (COP +2.98%) and Chevron Corp. (CVX +0.88%) both rose. In Consumer Staples, Philip Morris (PM -3.47%) fell. AT&T (T +1.31%) to lead gains in Telecom stocks. In earnings, FedEx (FDX +3.52%) and Micron Technology (MU +4.02%) rose as both companies posted quarterly profits that beat analyst expectations.
Treasuries declined further, with the yield on the 10-year note climbing three basis points to 2.49%. In commodities, NYMEX WTI crude added 0.9% to $58.09/barrel. COMEX gold was up 0.4% to $1268.90/ounce amid a weaker dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups Outpaced Tech Sector Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Commodity-linked groups were unanimously higher as the Oil Services Index ($OSX +2.54%), Integrated Oil Index ($XOI +1.42%) and the Gold & Silver Index ($XAU +1.77%) each posted a solid gain. Meanwhile, the Bank Index ($BKX -0.28%) suffered a small loss on Wednesday and the Broker/Dealer Index ($XBD -0.02%) and Retail Index ($RLX -0.01%) both finished the session unchanged. The tech sector had a positive bias as the Semiconductor Index ($SOX +0.70%) and Biotechnology Index ($BTK +0.59%) both edged higher and the Networking Index ($NWX +0.11%) posted a smaller gain. Charts courtesy wwwstockcharts.com
 PICTURED: The Biotechnology Index ($BTK +0.59%) is consolidating near its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
141.47 |
+3.51 |
+2.54% |
-23.03% |
| Integrated Oil |
$XOI |
1,300.29 |
-0.30 |
-0.02% |
+2.55% |
| Semiconductor |
$SOX |
1,285.44 |
+8.92 |
+0.70% |
+41.81% |
| Networking |
$NWX |
496.49 |
+0.56 |
+0.11% |
+11.30% |
| Broker/Dealer |
$XBD |
264.91 |
-0.04 |
-0.02% |
+29.05% |
| Retail |
$RLX |
1,729.57 |
-0.15 |
-0.01% |
+28.79% |
| Gold & Silver |
$XAU |
83.01 |
+1.44 |
+1.77% |
+5.26% |
| Bank |
$BKX |
106.79 |
-0.30 |
-0.28% |
+16.34% |
| Biotech |
$BTK |
4,173.24 |
+24.39 |
+0.59% |
+35.71% |
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Extended From Latest Base and Perched Near Record High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Ollie's Bargain Outlet (OLLI +$0.25 or +0.48% to $52.60) is perched at its all-time high after additional volume-driven gains, getting more extended from its latest sound base. Its 50-day moving average (DMA) line ($46.59) defines important near-term support coinciding with prior highs in the $46 area.
Recently it reported earnings +29% on +18% sales revenues for the Oct '17 quarter, continuing its strong earnings track record and meeting the +25% minimum earnings guideline (C criteria). It has earned a very strong 97 Earnings Per Share (EPS) rating.
The Retail - Discount & Variety firm traded up as much as +101.5% since highlighted in yellow with a pivot point based on its 4/28/16 high plus 10 cents in 7/19/16 mid-day report (read here). OLLI was last shown in this FSU section on 11/27/17 with an annotated graph under the headline, "Recently Stalled After Reaching a New High".
OLLI completed its $16 IPO on 7/16/15. It completed a Secondary Offerings on 6/06/16 and 2/18/16. The number of top-rated funds owning its shares rose from 98 in Sep '15 to 423 in Sep '17, a reassuring sign concerning the I criteria. Its current Up/Down Volume ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 50 days. The small supply of only 61.7 million shares outstanding (S criteria) 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 |
THO
-
NYSE
Thor Industries Inc
AUTOMOTIVE - Recreational Vehicles
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$153.69
|
-0.23
-0.15% |
$155.86
|
558,918
87.33% of 50 DAV
50 DAV is 640,000
|
$156.86
-2.02%
|
12/19/2017
|
$153.92
|
PP = $156.96
|
|
MB = $164.81
|
Most Recent Note - 12/19/2017 4:39:12 PM
Y - Formed an advanced "3-week tight base and a new pivot point is cited while its color code is changed to yellow. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buys signal. Challenged its all-time high today but quietly ended the session in the red. Its 50 DMA line and prior highs in the $138 area define near-term support to watch. Reported earnings +63% on +31% sales revenues for the Oct '17 quarter, continuing its strong earnings track record.
>>> FEATURED STOCK ARTICLE : Very Extended From Prior Base and Hovering Near Record High - 12/7/2017 |
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C
A
S
I |
PFBC
-
NASDAQ
Preferred Bank Los Angls
BANKING - Regional - Pacific Banks
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$61.17
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+0.18
0.30% |
$61.96
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91,599
118.50% of 50 DAV
50 DAV is 77,300
|
$66.58
-8.13%
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10/10/2017
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$59.38
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PP = $59.08
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MB = $62.03
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Most Recent Note - 12/19/2017 4:12:57 PM
Y - Color code is changed to yellow while quietly consolidating below its "max buy" level. Met resistance in the $66 area and found support near its 50 DMA line ($60.93). Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Challenged High After Finding Support at 50 Day Moving Average - 12/5/2017 |
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C
A
S
I |
AVGO
-
NASDAQ
Avago Technologies Ltd
ELECTRONICS - Semiconductor - Broad Line
|
$265.64
|
+1.94
0.74% |
$266.35
|
1,981,224
58.66% of 50 DAV
50 DAV is 3,377,600
|
$285.68
-7.01%
|
10/30/2017
|
$261.19
|
PP = $259.46
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MB = $272.43
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Most Recent Note - 12/19/2017 4:23:50 PM
G - Recently finding support near its 50 DMA line ($261.91). More damaging losses beyond the recent low ($254.20 on 12/06/17) would raise greater concerns. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Testing Support at Prior Highs and 50-Day Average - 12/8/2017 |
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C
A
S
I |
YY
-
NASDAQ
YY Inc Ads
INTERNET - Internet Service Providers
|
$112.93
|
+0.94
0.84% |
$114.00
|
787,798
51.86% of 50 DAV
50 DAV is 1,519,000
|
$123.48
-8.54%
|
9/25/2017
|
$80.26
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PP = $83.10
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MB = $87.26
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Most Recent Note - 12/18/2017 7:19:03 PM
G - Consolidating above its prior high ($97.59 on 10/16/17) and above its 50 DMA line ($99.30), still extended from any sound base. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Fundamentals Remain Strong; Extended From Any Sound Base - 12/11/2017 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$135.05
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+0.84
0.63% |
$135.89
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470,413
76.86% of 50 DAV
50 DAV is 612,000
|
$142.80
-5.43%
|
9/29/2016
|
$46.12
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PP = $47.82
|
|
MB = $50.21
|
Most Recent Note - 12/18/2017 7:15:12 PM
G - Rebounded above its 50 DMA line ($124.91) with today's 3rd consecutive gain helping its outlook to improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Weak Technical Action Raises Concerns Despite Strong Fundamentals - 11/29/2017 |
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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 |
PATK
-
NASDAQ
Patrick Industries Inc
Bldg-Mobile/Mfg and RV
|
$67.35
|
+1.35
2.05% |
$67.85
|
195,022
142.35% of 50 DAV
50 DAV is 137,000
|
$68.63
-1.87%
|
10/26/2017
|
$90.90
|
PP = $87.90
|
|
MB = $92.30
|
Most Recent Note - 12/19/2017 4:46:07 PM
G - Pulled back from its all-time high with above average volume today. Prior high in the $64 area and its 50 DMA line ($61.26) define important near-term support to watch where violations would raise concerns. Fundamentals remain strong. Shares split 3/2 effective 12/11/17, so do not be confused by the impact on the share prices.
>>> FEATURED STOCK ARTICLE : Hovering Near High Following 3:2 Share Split - 12/15/2017 |
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C
A
S
I |
ESNT
-
NYSE
Essent Group Ltd
Finance-MrtgandRel Svc
|
$46.24
|
+1.12
2.48% |
$46.97
|
797,359
84.92% of 50 DAV
50 DAV is 939,000
|
$47.29
-2.22%
|
10/9/2017
|
$39.75
|
PP = $41.54
|
|
MB = $43.62
|
Most Recent Note - 12/19/2017 4:27:15 PM
G - Consolidating above its 50 DMA line ($43.79) and recent low ($43.07 on 12/01/17) defining near-term support. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Pulling Back After Recently Wedging Higher - 12/14/2017 |
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C
A
S
I |
FIVE
-
NASDAQ
Five Below Inc
Retail-DiscountandVariety
|
$65.86
|
-1.01
-1.51% |
$67.97
|
517,353
51.94% of 50 DAV
50 DAV is 996,000
|
$68.89
-4.40%
|
10/6/2017
|
$57.13
|
PP = $54.23
|
|
MB = $56.94
|
Most Recent Note - 12/19/2017 5:38:47 PM
G - Touched another new all-time high but reversed into the red for a loss today on average volume. Very extended from its prior base, its 50 DMA line ($59.64) and prior highs in the $57-58 area define near-term support to watch. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph,
>>> FEATURED STOCK ARTICLE : Retail - Discount & Variety Firm Has Strong Fundamentals - 12/19/2017 |
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C
A
S
I |
OLED
-
NASDAQ
Universal Display Corp
Elec-Misc Products
|
$180.85
|
+1.50
0.84% |
$181.21
|
589,570
63.06% of 50 DAV
50 DAV is 935,000
|
$192.75
-6.17%
|
8/31/2017
|
$128.22
|
PP = $127.78
|
|
MB = $134.17
|
Most Recent Note - 12/18/2017 7:18:05 PM
G - Fundamentals remain strong. Has not formed a sound base pattern. The recent low ($158.00 on 12/05/17) and 50 DMA line ($159.97) define important near-term support to watch. Subsequent losses leading to violations may trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Consolidating After +50% Rally Since First Featured 8/31/17 - 12/13/2017 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$234.15
|
-1.85
-0.78% |
$238.36
|
527,454
61.62% of 50 DAV
50 DAV is 856,000
|
$245.65
-4.68%
|
10/27/2017
|
$195.65
|
PP = $196.37
|
|
MB = $206.19
|
Most Recent Note - 12/19/2017 4:21:05 PM
G - Tallied its 10th gain in the span of 11 sessions. Its 50 DMA line ($213) and prior low ($206.86 on 12/05/17) define important support levels. Subsequent violations would trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Halted Volume-Driven Pullback at 50-Day Moving Average Line - 12/6/2017 |
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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 |
GRUB
-
NYSE
Grubhub Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software
|
$74.09
|
+0.91
1.24% |
$74.81
|
990,778
68.85% of 50 DAV
50 DAV is 1,439,000
|
$73.67
0.57%
|
6/21/2017
|
$47.33
|
PP = $46.94
|
|
MB = $49.29
|
Most Recent Note - 12/18/2017 7:22:07 PM
G - Hit yet another new all-time high with today's gain backed by lighter than average volume, getting very extended from any sound base. Its 50 DMA line ($62.17) defines initial support above prior highs near $57. The 2 latest quarters were below the +25% minimum earnings guideline (C criteria), raising fundamental concerns with regard to the fact-based investment system. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Any Base, Grubhub Hits Another New Record High - 12/18/2017 |
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C
A
S
I |
IBP
-
NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services
|
$74.35
|
+1.30
1.78% |
$75.30
|
120,821
63.59% of 50 DAV
50 DAV is 190,000
|
$79.40
-6.36%
|
9/19/2017
|
$59.15
|
PP = $60.10
|
|
MB = $63.11
|
Most Recent Note - 12/19/2017 4:29:32 PM
G - Recently found support at its 50 DMA line ($68.85). Subsequent losses leading to a violation of the 50 DMA line or recent low may trigger technical sell signals. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Impressive Rebound and Rally - 12/1/2017 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$52.60
|
+0.25
0.48% |
$53.20
|
451,867
88.43% of 50 DAV
50 DAV is 511,000
|
$53.25
-1.22%
|
11/21/2017
|
$46.78
|
PP = $47.00
|
|
MB = $49.35
|
Most Recent Note - 12/20/2017 5:21:10 PM
G - Extended from its prior base, holding its ground perched at its all-time high after additional volume-driven gains. Its 50 DMA line defines important near-term support coinciding with prior highs in the $46 area. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Latest Base and Perched Near Record High - 12/20/2017 |
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C
A
S
I |
HLI
-
NYSE
Houlihan Lokey Inc Cl A
Finance-Invest Bnk/Bkrs
|
$45.09
|
-0.19
-0.42% |
$45.45
|
124,731
48.72% of 50 DAV
50 DAV is 256,000
|
$46.99
-4.04%
|
9/18/2017
|
$37.04
|
PP = $39.78
|
|
MB = $41.77
|
Most Recent Note - 12/19/2017 4:09:05 PM
G - Perched at its all-time high, extended from any sound base. Its 50 DMA line ($42.76) defines near-term support to watch. On 10/26/17 it priced a Secondary Offering. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 12/12/2017 |
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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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