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AFTER MARKET UPDATE - FRIDAY, DECEMBER 23RD, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
+14.93 |
19,933.81 |
+0.07% |
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Volume |
618,201,490 |
-30% |
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Volume |
1,047,334,150 |
-27% |
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NASDAQ |
+15.27 |
5,462.69 |
+0.28% |
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Advancers |
1,734 |
60% |
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Advancers |
1,973 |
69% |
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S&P 500 |
+2.83 |
2,263.79 |
+0.13% |
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Decliners |
1,171 |
40% |
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Decliners |
901 |
31% |
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Russell 2000 |
+8.85 |
1,371.51 |
+0.65% |
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52 Wk Highs |
73 |
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52 Wk Highs |
78 |
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S&P 600 |
+4.20 |
845.02 |
+0.50% |
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52 Wk Lows |
16 |
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52 Wk Lows |
32 |
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Indices at Record HIghs Edged Higher for the Week
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the week, the Dow and Nasdaq Composite were both up 0.5% and the S&P 500 added 0.3%. Stocks finished higher on Friday. The Dow rose 15 points to 19933. The S&P 500 was up 3 points to 2263 and the Nasdaq Composite gained 15 points to 5462. Volume totals were much lighter than the prior session totals on the NYSE and on the Nasdaq exchange as traders headed home early for the long holiday weekend. Advancers led decliners by a 3-2 margin on the NYSE and by more than 2-1 on the Nasdaq exchange. Leadership waned as there were 26 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, down from the total of 45 on the prior session. New 52-week highs contracted yet still outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.
PICTURED: The Nasdaq Composite Index is perched near its record high.
While remaining near 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 advanced during a relatively quiet session heading into holiday weekend. On the economic front, a report showed new home sales unexpectedly increased 5.2% in November compared to a projections for a 2.1% gain. The University of Michigan’s final reading on consumer sentiment for December was revised up to 98.2 compared to the previous reading of 98.0.
Health Care was the best performing sector in the S&P 500 led by biotech. Regeneron (REGN +2.52%) and AbbVie (ABBV +1.10%) both were higher. Consumer Discretionary and Energy were down the most on the session. Bed Bath & Beyond (BBBY -1.47%) fell further following its disappointing quarterly results Wednesday night. Shares of Schlumberger (SLB -1.01%) fell. Baker Hughes (BHI -1.04%) also fell after reporting the U.S. oil rig count increased for an eighth straight week.
Treasuries were broadly higher with the 10-year note rising 4/32 to 2.54% and the 30-year bond increasing 8/32 to 3.11%. In commodities, NYMEX WTI crude was up 0.3% to $53.10/barrel. COMEX gold increased 0.3% to $1131.90/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Biotech, Broker/Dealer, and Gold & Silver Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.35%) edged lower while the Bank Index ($BKX +0.30%) ended slightly higher on Friday. The tech sector led by the Biotechnology Index ($BTK +2.29%) which outpaced the Networking Index ($NWX +0.27%) and Semiconductor Index ($SOX +0.53%) both. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +1.64%) posted a solid gain, meanwhile the Oil Services Index ($OSX -0.49%) and the Integrated Oil Index ($XOI -0.12%) both ended slightly lower. Charts courtesy www.stockcharts.com
 PICTURED: The Broker/Dealer Index ($XBD +0.54%) has been consolidating near its record high.
| Oil Services |
$OSX |
185.89 |
-0.91 |
-0.49% |
+17.85% |
| Integrated Oil |
$XOI |
1,280.28 |
-1.52 |
-0.12% |
+19.35% |
| Semiconductor |
$SOX |
927.92 |
+4.86 |
+0.53% |
+39.86% |
| Networking |
$NWX |
449.85 |
+1.23 |
+0.27% |
+19.66% |
| Broker/Dealer |
$XBD |
209.81 |
+1.13 |
+0.54% |
+17.81% |
| Retail |
$RLX |
1,360.18 |
-4.78 |
-0.35% |
+5.98% |
| Gold & Silver |
$XAU |
74.23 |
+1.20 |
+1.64% |
+63.86% |
| Bank |
$BKX |
93.14 |
+0.28 |
+0.30% |
+27.45% |
| Biotech |
$BTK |
3,180.92 |
+71.17 |
+2.29% |
-16.60% |
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Built an Orderly Base-On-Base Pattern
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Lemaitre Vascular Inc (LMAT +$0.01 or +0.04% to $24.30) held its ground with volume light today. While poised to breakout it met resistance yesterday and finished in the middle of its intra-day range. A new pivot point was cited based on its 11/17/16 high plus 10 cents after an orderly base-on-base pattern. It was noted - "A volume-driven gain and strong close above the pivot point may clinch a new (or add-on) technical buy signal." Subsequent gains for new highs should be backed by at least +40% above average volume to trigger a proper technical buy signal.
Recent lows in the $22 area and its 50-day moving average (DMA) line ($22.39) coincide defining important support to watch on pullbacks. It made limited progress after its 11/09/16 technical breakout. No resistance remains due to overhead supply. LMAT was last shown in this FSU section on 11/25/16 with an annotated graph under the headline, "Perched Near Highs Following Recent Technical Breakout". It was first highlighted in yellow with pivot point cited based on its 9/20/16 high plus 10 cents in the 10/27/16 mid-day report (read here).
The high-ranked Medical - Products firm recently reported earnings +55% on +22% sales revenues for the Sep '16 quarter, marking its 3rd consecutive quarter above the +25% minimum earnings guideline (C criteria), helping it better match the fact-based investment system's fundamental guidelines. Earnings rose +18%, +38%, +40% and +55% in the Dec '15, Mar, Jun, and Sep '16 quarters, respectively, demonstrating encouraging sales revenues and earnings acceleration. Sales revenues rose +10%, +7%, +13% and +20% over that same span. Annual earnings (A criteria) history has been steadily improving since a downturn in FY '11.
Its current Up/Down Volume ratio of 1.3 is an unbiased indication that its shares were under accumulation over the past 50 days, a reassuring sign concerning the I criteria. The number of top-rated funds owning its share rose from 184 in Dec '15 to 198 in Sep '16. Its small supply of 13.2 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
|
$25.39
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-0.05
-0.20% |
$25.53
|
97,082
35.56% of 50 DAV
50 DAV is 273,000
|
$25.83
-1.72%
|
10/10/2016
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$18.20
|
PP = $18.37
|
|
MB = $19.29
|
Most Recent Note - 12/23/2016 2:30:20 PM
G - Stubbornly holding its ground near all-time highs, very extended from any sound base. Its 50 DMA line ($21.53) 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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$19.80
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+0.30
1.54% |
$19.95
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22,573
23.76% of 50 DAV
50 DAV is 95,000
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$23.00
-13.91%
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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 - 12/23/2016 2:40:56 PM
G - Still consolidating well above prior highs and its 50 DMA line which coincide in the $18 area defining important support to watch. Reported very strong Sep '16 quarterly sales revenues and earnings increases.
>>> FEATURED STOCK ARTICLE : Consolidating After Strong Sep '16 Quarterly Earnings News - 12/21/2016 |
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C
A
S
I |
BERY
-
NYSE
Berry Plastics Group Inc
CONSUMER NON-DURABLES - Packaging and Containers
|
$50.29
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+0.17
0.34% |
$50.33
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293,327
19.34% of 50 DAV
50 DAV is 1,517,000
|
$51.68
-2.69%
|
11/30/2016
|
$50.26
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PP = $46.47
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MB = $48.79
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Most Recent Note - 12/22/2016 5:28:42 PM
G - Consolidating near its 52-week highs with volume totals cooling. 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
|
$70.20
|
-0.10
-0.14% |
$70.46
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320,953
67.71% of 50 DAV
50 DAV is 474,000
|
$71.97
-2.45%
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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 - 12/23/2016 2:34:27 PM
G - Stubbornly holding its ground near all-time highs, very extended from its prior base. Its 50 DMA line ($62.52) and prior highs define important support.
>>> 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
|
$47.62
|
+1.49
3.23% |
$47.64
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110,880
50.86% of 50 DAV
50 DAV is 218,000
|
$54.23
-12.19%
|
9/29/2016
|
$46.12
|
PP = $47.82
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MB = $50.21
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Most Recent Note - 12/23/2016 2:38:47 PM
G - The longer it lingers below its 50 DMA line ($47.20) the worse its outlook becomes. Halted its slide after a slump below the 50 DMA line and below prior highs raised concerns and triggered technical sell signals. 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
|
$111.80
|
+1.65
1.50% |
$112.00
|
92,572
37.63% of 50 DAV
50 DAV is 246,000
|
$113.65
-1.63%
|
11/29/2016
|
$106.29
|
PP = $101.00
|
|
MB = $106.05
|
Most Recent Note - 12/23/2016 2:32:24 PM
G - Stubbornly holding its ground near all-time highs, extended from any sound base. Prior highs in the $101-103 area define support to watch above its 50 DMA line.
>>> 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
|
$24.30
|
+0.01
0.04% |
$24.57
|
51,657
33.98% of 50 DAV
50 DAV is 152,000
|
$25.19
-3.53%
|
12/22/2016
|
$24.99
|
PP = $25.09
|
|
MB = $26.34
|
Most Recent Note - 12/22/2016 5:25:48 PM
Y - Met resistance today and finished in the middle of its intra-day range. New pivot point was cited based on its 11/17/16 high plus 10 cents after an orderly base-on-base pattern. A volume-driven gain and strong close above the pivot point may clinch a new (or add-on) technical buy signal. Recent lows in the $22 area and its 50 DMA line ($22.30) coincide defining important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Built an Orderly Base-On-Base Pattern - 12/23/2016 |
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C
A
S
I |
BEAT
-
NASDAQ
BioTelemetry Inc
Medical-Services
|
$23.00
|
-0.35
-1.50% |
$23.65
|
237,081
75.03% of 50 DAV
50 DAV is 316,000
|
$24.10
-4.56%
|
12/19/2016
|
$22.91
|
PP = $21.78
|
|
MB = $22.87
|
Most Recent Note - 12/23/2016 2:42:48 PM
G - Still stubbornly holding its ground just above its "max buy" level. Prior highs in the $21-22 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Breakaway Gap Technically Clears 11-Week V Shaped Base - 12/19/2016 |
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C
A
S
I |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
|
$77.55
|
+0.45
0.58% |
$77.92
|
90,192
78.43% of 50 DAV
50 DAV is 115,000
|
$79.10
-1.96%
|
11/29/2016
|
$72.45
|
PP = $69.63
|
|
MB = $73.11
|
Most Recent Note - 12/21/2016 5:22:41 PM
G - Rallied for another new high with above average volume behind today's 5th consecutive gain. 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
|
$96.93
|
+0.07
0.07% |
$97.40
|
138,687
18.79% of 50 DAV
50 DAV is 738,000
|
$98.90
-1.99%
|
11/21/2016
|
$93.80
|
PP = $88.66
|
|
MB = $93.09
|
Most Recent Note - 12/23/2016 2:29:11 PM
G - Stubbornly holding its ground above its "max buy" level. Its 50 DMA line ($89.83) and prior highs in the $88 area define support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Holding Ground After Rally More Than 5% Beyond Prior Highs - 12/20/2016 |
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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 |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$37.31
|
-0.41
-1.09% |
$37.94
|
147,578
50.89% of 50 DAV
50 DAV is 290,000
|
$38.65
-3.47%
|
7/19/2016
|
$26.64
|
PP = $26.41
|
|
MB = $27.73
|
Most Recent Note - 12/21/2016 5:21:13 PM
G - Hit a new all-time high with today's 3rd consecutive gain backed by near average volume. Very extended from its prior base. Its 50 DMA line ($31.74) defines important support to watch on pullbacks. Do not be confused by 2-1 stock split effective today so the Featured Price, Pivot Point and Max Buy levels have been adjusted accordingly
>>> FEATURED STOCK ARTICLE : Financial Firm Remains Extended Well Above Prior Highs - 12/14/2016 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$29.90
|
+0.30
1.01% |
$30.00
|
459,376
68.46% of 50 DAV
50 DAV is 671,000
|
$32.75
-8.70%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 12/22/2016 5:24:24 PM
Y - Lost ground on slightly above average volume today slumping below its "max buy" level. Prior highs in the $28 area define important support to watch coinciding with its 50 DMA line ($29.11).
>>> 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
|
$40.50
|
+0.60
1.50% |
$40.50
|
291,910
29.49% of 50 DAV
50 DAV is 990,000
|
$45.25
-10.50%
|
12/8/2016
|
$42.80
|
PP = $45.35
|
|
MB = $47.62
|
Most Recent Note - 12/21/2016 5:15:38 PM
Y - Quietly consolidating above its 50 DMA line ($39.34) which is now downward sloping. 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 |
|
|
|
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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