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AFTER MARKET UPDATE - FRIDAY, DECEMBER 28TH, 2018
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DOW |
-76.42 |
23,062.40 |
-0.33% |
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Volume |
897,117,680 |
-17% |
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Volume |
2,191,755,380 |
-9% |
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NASDAQ |
+5.03 |
6,584.52 |
+0.08% |
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Advancers |
1,935 |
64% |
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Advancers |
2,147 |
69% |
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S&P 500 |
-3.10 |
2,485.73 |
-0.12% |
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Decliners |
1,069 |
36% |
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Decliners |
962 |
31% |
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Russell 2000 |
+6.11 |
1,337.93 |
+0.46% |
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52 Wk Highs |
5 |
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52 Wk Highs |
7 |
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S&P 600 |
+4.84 |
840.21 |
+0.58% |
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52 Wk Lows |
99 |
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52 Wk Lows |
116 |
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Breadth Positive as Major Indices Ended Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 was able to eke out a weekly gain of 2.8%, which snapped a three-week slump. The Dow gained 2.7% on the week, while the Nasdaq outperformed with an increase of nearly 4%. Despite the weekly advance, the S&P 500 is still on pace to post its worst December performance since 1931, and its first annual loss since 2015. On Friday the Dow lost 76 points to 23,062 while the S&P 500 slipped 3 points to 2,485. The Nasdaq Composite eked out a 5 point gain to finish at 6,584. The volume totals were mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Advancers led decliners by almost a 2-1 margin on the NYSE and more than 2-1 on the Nasdaq exchange. Leadership remained elusive, however, as one high-ranked company from the Leaders List made a new 52-week high and was listed on the BreakOuts Page. New 52-week lows totals solidly outnumbered new 52-week highs totals which were still in the single digits on both the NYSE and on the Nasdaq exchange. The major indices (M criteria) are still in a correction despite the big day of gains. Disciplined investors will wait for a convincing follow-through day, ideally between Day 4 and Day 7 of the rally attempt, to signal a change in market direction (M criteria) back to a bullish stance. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The Dow Jones Industrial Average ended lower on Day 3 of a new rally attempt.
The major averages toggled between gains and losses throughout the session, capping a wild week on Wall Street. Nine of 11 S&P 500 sectors declined on the session. Consumer Discretionary shares outperformed, with Amazon (AMZN +1.12%) edging higher. Tesla (TSLA +5.61%) rose after naming two new board members as part of an SEC settlement. Energy stocks lagged, despite WTI crude adding 1.6% to $45.33/barrel.
On the data front, a report showed pending home sales unexpectedly dipped 0.7% in November. A separate report showed manufacturing activity in the Chicago Fed region eased slightly in December after touching an 11-month high the prior month. Treasuries strengthened as the session wore on, with the yield on the 10-year note falling six basis points to 2.72%. The U.S. dollar was slightly weaker, while gold was essentially unchanged. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Tech Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -0.14%) and the Bank Index ($BKX +0.13%) ended mixed and little changed while the Retail Index ($RLX +0.45%) posted a modest gain. The tech sector had a positive bias as the Networking Index ($NWX +0.68%) and Semiconductor Index ($SOX +0.69%) rose but the Biotech Index ($BTK -0.07%) finished flat. Energy-linked groups were mixed as the Oil Services Index ($OSX +0.98%) rose and the Integrated Oil Index ($XOI -0.88%) fell. The Gold & Silver Index ($XAU -1.57%) was a standout decliner.
Charts courtesy of www.stockcharts.com
 PICTURED: The Semiconductor Index ($SOX +0.69%) is rebounding after a slump to lows not seen since August 2017.
| Oil Services |
$OSX |
80.49 |
+0.78 |
+0.98% |
-46.18% |
| Integrated Oil |
$XOI |
1,151.55 |
-10.27 |
-0.88% |
-13.78% |
| Semiconductor |
$SOX |
1,147.37 |
+7.88 |
+0.69% |
-8.43% |
| Networking |
$NWX |
482.76 |
+3.26 |
+0.68% |
-1.58% |
| Broker/Dealer |
$XBD |
235.40 |
-0.33 |
-0.14% |
-11.25% |
| Retail |
$RLX |
1,927.02 |
+8.66 |
+0.45% |
+11.15% |
| Gold & Silver |
$XAU |
69.68 |
-1.10 |
-1.55% |
-18.28% |
| Bank |
$BKX |
85.15 |
+0.11 |
+0.13% |
-20.20% |
| Biotech |
$BTK |
4,125.53 |
-2.91 |
-0.07% |
-2.29% |
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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 |
MLR
-
NYSE
Miller Industries Inc
AUTOMOTIVE - Auto Parts
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$27.12
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+0.80
3.04% |
$27.47
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21,829
62.37% of 50 DAV
50 DAV is 35,000
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$29.40
-7.76%
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11/30/2018
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$28.35
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PP = $29.50
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MB = $30.98
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Most Recent Note - 12/28/2018 4:55:45 PM
Y - Color code is changed to yellow after it rebounded further above its closely coinciding 50-day and 200-day moving average (DMA) lines with today's 3rd consecutive gain backed by lighter volume. Resistance still remains due to overhead supply up to the $29 level.
>>> FEATURED STOCK ARTICLE : Failed to Produce Buy Signal and Deterioration Raised Concern - 12/20/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
UBNT
-
NASDAQ
Ubiquiti Networks
TELECOMMUNICATIONS - Diversified Communication Serv
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$98.94
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+0.70
0.71% |
$100.62
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208,031
44.93% of 50 DAV
50 DAV is 463,000
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$115.44
-14.29%
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11/9/2018
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$108.20
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PP = $101.43
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MB = $106.50
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Most Recent Note - 12/28/2018 4:57:53 PM
G - Posted a 3rd consecutive gain today on light volume. A rebound above the 50 DMA line ($100.91) is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Still Hovering Above "Max Buy" Level - 12/11/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
PLNT
-
NYSE
Planet Fitness Inc Cl A
Leisure-Services
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$52.58
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-0.63
-1.18% |
$53.78
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943,867
76.00% of 50 DAV
50 DAV is 1,242,000
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$58.50
-10.12%
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11/7/2018
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$57.10
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PP = $55.45
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MB = $58.22
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Most Recent Note - 12/28/2018 4:57:18 PM
Y - Pulled back today with lighter volume yet remains above its 50 DMA line ($51.80). It faces resistance due to overhead supply up to the $58.50 level. Found support near the recent low ($48.02 on 11/20/18) and above its 200 DMA line ($46.75) which defines the next important support. More damaging losses would raise concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Fitness Firm Remains Near High Despite Unhealthy Environment - 12/14/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
INVA
-
NASDAQ
Innoviva Inc
Medical-Biomed/Biotech
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$17.09
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+0.13
0.77% |
$17.23
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880,068
76.53% of 50 DAV
50 DAV is 1,150,000
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$18.60
-8.12%
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11/23/2018
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$17.74
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PP = $18.09
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MB = $18.99
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Most Recent Note - 12/28/2018 4:54:05 PM
Y - Rebounded further above its 50 DMA line ($16.45) with today's 3rd consecutive gain backed by below average volume. Faces near-term resistance due to overhead supply up to the $19.60 level.
>>> FEATURED STOCK ARTICLE : Perched Near High With Volume Totals Cooling - 12/13/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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,
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