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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 28TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
-111.36 |
19,833.68 |
-0.56% |
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Volume |
735,493,670 |
+25% |
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Volume |
1,208,706,150 |
+8% |
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NASDAQ |
-48.88 |
5,438.56 |
-0.89% |
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Advancers |
793 |
27% |
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Advancers |
764 |
25% |
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S&P 500 |
-18.96 |
2,249.92 |
-0.84% |
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Decliners |
2,164 |
73% |
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Decliners |
2,244 |
75% |
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Russell 2000 |
-16.88 |
1,360.83 |
-1.23% |
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52 Wk Highs |
77 |
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52 Wk Highs |
107 |
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S&P 600 |
-10.18 |
839.61 |
-1.20% |
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52 Wk Lows |
30 |
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52 Wk Lows |
47 |
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Leadership Thinned and Indices Pulled Back From Record Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Wednesday. The Dow was down 111 points to 19833. The S&P 500 lost 18 points to 2249 and the Nasdaq Composite fell 48 points to 5438. Volume totals were below average and yet higher than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by nearly a 3-1 margin on the NYSE and on the Nasdaq exchange. Leadership thinned as there were 40 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 70 on the prior session. New 52-week highs still outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.
PICTURED: The S&P 400 Mid Cap Index Index is perched near its record high.
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 declined on the session Wednesday as Financials retreated and the Dow Jones Industrial Average failed to reach the 20,000 point level for the first time. On Wednesday, the blue-chips index entered the session around 55 points away from hitting the milestone mark. On the data front, pending home sales fell 2.5% in November, below analysts’ expectations. In M&A news, Kate Spade (KATE +23.09%) rallied amid takeover speculation.
All 11 sectors in the S&P 500 finished in negative territory. Financials led the losses with Citigroup (C -1.72%) falling. Technology stocks lagged as shares of Qualcomm (QCOM -2.23%) fell after the chipmaker was fined $854 million by South Korean officials for allegedly violating competition laws. In the consumer space, Fred’s Inc. (FRED -4.84%) fell amid scrutiny by federal regulators on its increased size due to the purchase of 865 Rite-Aid (RAD -0.84%) stores. Shares of Amazon.com (AMZN +0.09%) bucked broader weakness as the online retailer was named by Evercore (EVR -1.57%) as its top stock pick for 2017.
Treasuries advanced with the benchmark 10-year note up 13/32 to yield 2.51%. In commodities, NYMEX WTI crude added 0.2% to $54.06/barrel. COMEX gold gained 0.2% to $1139.40/ounce. In FOREX, the Dollar Index climbed 0.3%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver Index a Standout Gainer on Widely Negative Session
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.58%), Broker/Dealer Index ($XBD -1.39%), and Bank Index ($BKX -1.12%) each ended lower on Wednesday's session. The Biotechnology Index ($BTK -1.50%), Networking Index ($NWX -1.14%), and the Semiconductor Index ($SOX -1.93%) unanimously led the tech sector lower. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +1.71%) rose and the Oil Services Index ($OSX -1.68%) and Integrated Oil Index ($XOI -0.75%) both fell. Charts courtesy www.stockcharts.com
 PICTURED: The 3-year chart shows the Integrated Oil Index ($XOI -0.75%) consolidating, up +47% from its 2016 low.
| Oil Services |
$OSX |
184.64 |
-3.16 |
-1.68% |
+17.06% |
| Integrated Oil |
$XOI |
1,275.54 |
-9.59 |
-0.75% |
+18.91% |
| Semiconductor |
$SOX |
921.09 |
-18.12 |
-1.93% |
+38.83% |
| Networking |
$NWX |
446.39 |
-5.14 |
-1.14% |
+18.74% |
| Broker/Dealer |
$XBD |
207.16 |
-2.91 |
-1.39% |
+16.32% |
| Retail |
$RLX |
1,361.43 |
-7.91 |
-0.58% |
+6.07% |
| Gold & Silver |
$XAU |
77.30 |
+1.30 |
+1.71% |
+70.64% |
| Bank |
$BKX |
92.33 |
-1.05 |
-1.12% |
+26.34% |
| Biotech |
$BTK |
3,114.57 |
-47.43 |
-1.50% |
-18.34% |
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Stubbornly Held Ground and Rose Since Featured Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Patrick Industries Inc (PATK -$0.95 or -1.22% to $77.00) remains perched near all-time highs, extended from its prior base. Prior highs in the $69 area and its 50-day moving average (DMA) line ($66.71) define support to watch on pullbacks.
PATK was last shown in this FSU section on 11/29/16 with an annotated graph under the headline, "Volume-Backed Breakout Triggered New Technical Buy Signal". It was highlighted in yellow with new pivot point cited based on its 7/28/16 high plus 10 cents in the 11/29/16 mid-day report (read here). The convincing gain for new highs was backed by +106% above average volume triggering a new (or add-on) technical buy signal.
It found support at its 200-day moving average (DMA) line after dropped from the Featured Stocks list on 10/27/16, and since then it stubbornly held its ground while rebounding and rallying impressively. It was first highlighted in yellow with pivot point based on its 4/28/16 high plus 10 cents in the 5/24/16 mid-day report (read here).
It reported Sep '16 quarterly earnings +36% on +42% sales revenues,continuing its streak of quarterly comparisons steadily above the +25% minimum earnings guideline (C criteria). A small downturn in FY '13 was a flaw previously noted in its annual earnings (A criteria) history.
Its current Up/Down Volume ratio of 1.6 is an unbiased indication that its shares were under accumulation over the past 50 days. The number of top-rated funds owning its share rose from 218 in Jun '15 to 313 in Sep '16, a reassuring trend concerning the I criteria. Its small supply of 14.3 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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$25.63
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+0.09
0.35% |
$25.81
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254,261
94.87% of 50 DAV
50 DAV is 268,000
|
$25.83
-0.79%
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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
|
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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$19.60
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-0.35
-1.75% |
$20.00
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49,657
52.83% of 50 DAV
50 DAV is 94,000
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$23.00
-14.78%
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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
|
$49.59
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-0.66
-1.31% |
$50.49
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684,758
46.39% of 50 DAV
50 DAV is 1,476,000
|
$51.68
-4.04%
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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 - 12/28/2016 5:20:23 PM
G - Still consolidating above its "max buy" level with volume totals cooling. Prior highs in the $46 area and its 50 DMA line ($47.15) define 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
|
$68.95
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-1.10
-1.57% |
$70.68
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232,476
49.15% of 50 DAV
50 DAV is 473,000
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$71.97
-4.19%
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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
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$47.68
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-0.53
-1.10% |
$49.42
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99,332
55.49% of 50 DAV
50 DAV is 179,000
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$54.23
-12.08%
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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 - 12/23/2016 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
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$109.60
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-2.60
-2.32% |
$113.00
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114,739
47.41% of 50 DAV
50 DAV is 242,000
|
$113.65
-3.56%
|
11/29/2016
|
$106.29
|
PP = $101.00
|
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MB = $106.05
|
Most Recent Note - 12/28/2016 5:31:38 PM
G - Pulled back from all-time highs, yet it remains 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
|
$25.12
|
+0.84
3.46% |
$25.30
|
149,972
99.32% of 50 DAV
50 DAV is 151,000
|
$25.19
-0.28%
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12/22/2016
|
$24.99
|
PP = $25.09
|
|
MB = $26.34
|
Most Recent Note - 12/28/2016 5:22:18 PM
Y - Posted a gain with average volume for a best-ever close today. 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 ($22.61) 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
|
$22.75
|
-0.10
-0.44% |
$23.15
|
169,246
53.56% of 50 DAV
50 DAV is 316,000
|
$24.10
-5.60%
|
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
|
$77.00
|
-0.95
-1.22% |
$78.00
|
86,321
75.06% of 50 DAV
50 DAV is 115,000
|
$79.15
-2.72%
|
11/29/2016
|
$72.45
|
PP = $69.63
|
|
MB = $73.11
|
Most Recent Note - 12/28/2016 5:18:38 PM
G - Extended from its prior base. Prior highs in the $69 area and its 50 DMA line ($66.71) define support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Stubbornly Held Ground and Rose Since Featured Again - 12/28/2016 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$97.25
|
-0.57
-0.58% |
$98.49
|
434,874
59.90% of 50 DAV
50 DAV is 726,000
|
$98.90
-1.67%
|
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
|
$37.95
|
+0.12
0.32% |
$38.30
|
190,377
66.10% of 50 DAV
50 DAV is 288,000
|
$38.65
-1.81%
|
7/19/2016
|
$26.64
|
PP = $26.41
|
|
MB = $27.73
|
Most Recent Note - 12/27/2016 5:43:38 PM
G - Holding its ground near all-time highs, extended from its prior base. Its 50 DMA line ($32.42) defines important support to watch on pullbacks. Do not be confused by 2-1 stock split effective 12/21/16 so the Featured Price, Pivot Point and Max Buy levels were 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
|
$29.15
|
-1.05
-3.48% |
$30.40
|
386,101
57.89% of 50 DAV
50 DAV is 667,000
|
$32.75
-10.99%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 12/28/2016 5:25:22 PM
G - Finished near the session low and just below its 50 DMA line ($29.30) with today's loss and its color code is changed to green. Further deterioration would raise greater concerns. Prior highs in the $28 area define important support to watch below 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
|
$39.40
|
-1.75
-4.25% |
$41.50
|
645,844
66.31% of 50 DAV
50 DAV is 974,000
|
$45.25
-12.93%
|
12/8/2016
|
$42.80
|
PP = $45.35
|
|
MB = $47.62
|
Most Recent Note - 12/28/2016 5:30:08 PM
Y - Slumped to a close near its 50 DMA line ($39.31) and ended near the session low. more damaging losses would raise concerns. Little resistance remains due to overhead supply. Subsequent volume-driven gains for new highs are needed to trigger a proper 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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