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AFTER MARKET UPDATE - THURSDAY, DECEMBER 29TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
-13.90 |
19,819.78 |
-0.07% |
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Volume |
699,984,110 |
-5% |
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Volume |
1,168,659,880 |
-3% |
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NASDAQ |
-6.47 |
5,432.09 |
-0.12% |
|
Advancers |
1,722 |
59% |
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Advancers |
1,445 |
49% |
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S&P 500 |
-0.66 |
2,249.26 |
-0.03% |
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Decliners |
1,219 |
41% |
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Decliners |
1,491 |
51% |
|
Russell 2000 |
+2.35 |
1,363.18 |
+0.17% |
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52 Wk Highs |
50 |
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52 Wk Highs |
86 |
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S&P 600 |
+1.91 |
841.52 |
+0.23% |
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52 Wk Lows |
18 |
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52 Wk Lows |
57 |
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Stocks Quietly Sputter With Indices Near Record Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks declined on Thursday. The Dow was down 13 points to 19819. The S&P 500 slipped less than a point to 2249 and the Nasdaq Composite fell 6 points to 5432. Volume totals were below average and lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by nearly a 3-2 margin on the NYSE while mix was even on the Nasdaq exchange. Leadership thinned as there were 28 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 40 on the prior session. New 52-week highs still outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.
PICTURED: The 3-year S&P 500 Index chart shows the benchmark index perched near its record high. It rallied after the election nearly as dramatically as it dropped at the start of 2016. Prior chart highs now closely coincide with the important 50-day and 200-day moving average (DMA) lines, helping define important technical support levels to watch on any pullbacks.
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 pared early gains to finish lower on the session Thursday as investors digested updates on the economy. Equities declined for a second consecutive day as the Dow Jones Industrial Average appears less likely to reach the 20,000 point level before year’s end. On the data front, wholesale inventories rose 0.9% in November, above analysts’ estimates. In a separate release, initial jobless claims came in at 265,000, above the expected 264,000.
Six of 11 sectors in the S&P 500 ended in positive territory. Financials declined on the session with Bank of America (BAC -1.48%) sinking. In Health Care, Cempra (CEMP -57.4%) tumbled after FDA regulators said they cannot approve Solithromycin, a clinical trial drug used to treat pneumonia. Real Estate shares outperformed with Senior Housing Properties Trust (SNH +3.26%) ending higher after being the subject of positive analyst commentary. In the consumer space, shares of Israel-based Mobileye (MBLY +9.77%) rallied as the company announced a partnership with German consortium HERE to assist in self-driving technology.
Treasuries advanced with the benchmark 10-year note up 8/32 to yield 2.47%. In commodities, NYMEX WTI crude lost 0.5% to $53.77/barrel. COMEX gold gained 1.4% to $1157.200/ounce |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver Index Was a Standout Gainer
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.26%), Broker/Dealer Index ($XBD -1.02%), and Bank Index ($BKX -1.06%) each ended lower on Thursday's session. The Biotechnology Index ($BTK -0.64%) edged lower while the Semiconductor Index ($SOX +0.01%) finished flat and, Networking Index ($NWX +0.36%) edged higher. Commodity-linked groups were mixed. The Gold & Silver Index ($XAU +6.13%) was a standout gainer, but the Oil Services Index ($OSX -0.23%) and Integrated Oil Index ($XOI -0.23%) both edged lower. Charts courtesy www.stockcharts.com
 PICTURED: The 3-year chart of the Biotechnology Index ($BTK -0.64%) shows the steep slide at the start of 2016 and also its slump following the election.
| Oil Services |
$OSX |
184.22 |
-0.42 |
-0.23% |
+16.79% |
| Integrated Oil |
$XOI |
1,272.65 |
-2.89 |
-0.23% |
+18.64% |
| Semiconductor |
$SOX |
921.20 |
+0.11 |
+0.01% |
+38.84% |
| Networking |
$NWX |
448.01 |
+1.62 |
+0.36% |
+19.17% |
| Broker/Dealer |
$XBD |
205.05 |
-2.11 |
-1.02% |
+15.14% |
| Retail |
$RLX |
1,357.90 |
-3.53 |
-0.26% |
+5.80% |
| Gold & Silver |
$XAU |
82.04 |
+4.74 |
+6.13% |
+81.10% |
| Bank |
$BKX |
91.35 |
-0.98 |
-1.06% |
+25.00% |
| Biotech |
$BTK |
3,094.66 |
-19.91 |
-0.64% |
-18.86% |
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Distributional Action Plus Slump Below 50-Day Moving Average
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Ollie's Bargain Outlet (OLLI -$0.25 or -0.86% to $28.90) slumped further below its 50-day moving average (DMA) line ($29.33) with today's loss on light volume. Only a prompt rebound above the 50 DMA line would help its outlook improve. Its color code was changed to green as it was noted - "Further deterioration would raise greater concerns. Prior highs in the $28 area define important support to watch below its 50 DMA line." Some insider buying was reported in recent weeks after rallying to new highs, an encouraging sign.
The Retail-Discount and Variety firm was last shown in this FSU section on 11/28/16 with an annotated graph under the headline, "Pulling Back After Getting Extended More Than +5% Above Prior Highs". Recent weeks have shown distributional action, and few gains above the pivot point, when it rallied, were backed by significant volume beyond the +40% above average volume needed to trigger a proper technical buy signal. OLLI was first highlighted in yellow with a pivot point based on its 9/01/16 high plus 10 cents in 10/04/16 mid-day report (read here).
The Retail - Discount & Variety industry group has also been lagging (L criteria) and currently has a very low Group Relative Strength Rating of only 11. Disciplined investors might look to find more favorable odds by choosing a leader in a high-ranked industry group. Fundamentally, it has a very strong 98 Earnings Per Share (EPS) rating. It reported earnings +55% on +16% sales revenues for the Oct '16 quarter, continuing its strong earnings track record with results above the +25% minimum earnings guideline (C criteria) for a 7th consecutive quarter. Its annual earnings (A criteria) history has been good.
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 255 in Sep '16, a reassuring sign concerning the I criteria. Its small supply of only 60.6 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 |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
|
$25.28
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-0.35
-1.37% |
$25.76
|
144,953
53.49% of 50 DAV
50 DAV is 271,000
|
$25.83
-2.14%
|
10/10/2016
|
$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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$19.60
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+0.00
0.00% |
$19.80
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52,335
55.68% 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
|
$49.24
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-0.35
-0.71% |
$49.95
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827,936
56.25% of 50 DAV
50 DAV is 1,472,000
|
$51.68
-4.72%
|
11/30/2016
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$50.26
|
PP = $46.47
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MB = $48.79
|
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 |
View all notes |
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News |
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C
A
S
I |
EVR
-
NYSE
Evercore Partners Inc
FINANCIAL SERVICES - Investment Banking
|
$68.85
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-0.10
-0.15% |
$69.70
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210,116
44.33% of 50 DAV
50 DAV is 474,000
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$71.97
-4.33%
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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
|
$48.79
|
+1.11
2.33% |
$48.95
|
113,882
63.62% of 50 DAV
50 DAV is 179,000
|
$54.23
-10.03%
|
9/29/2016
|
$46.12
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PP = $47.82
|
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MB = $50.21
|
Most Recent Note - 12/29/2016 6:17:36 PM
G - Consolidating above its 50 DMA line with volume totals cooling. 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
|
$108.60
|
-1.00
-0.91% |
$110.90
|
171,144
71.01% of 50 DAV
50 DAV is 241,000
|
$113.65
-4.44%
|
11/29/2016
|
$106.29
|
PP = $101.00
|
|
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
|
$25.46
|
+0.34
1.35% |
$25.52
|
133,139
87.59% of 50 DAV
50 DAV is 152,000
|
$25.30
0.63%
|
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
|
$22.35
|
-0.40
-1.76% |
$22.85
|
327,550
104.65% of 50 DAV
50 DAV is 313,000
|
$24.10
-7.26%
|
12/19/2016
|
$22.91
|
PP = $21.78
|
|
MB = $22.87
|
Most Recent Note - 12/29/2016 6:19:42 PM
Y - Pulled back for a 4th consecutive loss on average or light volume. Color code is changed to yellow after undercutting 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
|
$77.20
|
+0.20
0.26% |
$77.92
|
64,717
55.79% of 50 DAV
50 DAV is 116,000
|
$79.15
-2.46%
|
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
|
$96.73
|
-0.52
-0.53% |
$97.87
|
239,952
33.05% of 50 DAV
50 DAV is 726,000
|
$98.90
-2.19%
|
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
|
$37.21
|
-0.70
-1.85% |
$38.07
|
156,267
53.89% of 50 DAV
50 DAV is 290,000
|
$38.65
-3.73%
|
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
|
$28.90
|
-0.25
-0.86% |
$29.65
|
323,721
48.68% of 50 DAV
50 DAV is 665,000
|
$32.75
-11.76%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 12/29/2016 6:16:00 PM
G - Quietly slumping below its 50 DMA line ($29.33) following distributional losses raising concerns. Only a prompt rebound would help its outlook improve. Prior highs in the $28 area define important support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Distributional Action Plus Slump Below 50-Day Moving Average - 12/29/2016 |
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C
A
S
I |
LITE
-
NASDAQ
Lumentum Holdings Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$39.30
|
-0.10
-0.25% |
$39.74
|
661,543
67.71% of 50 DAV
50 DAV is 977,000
|
$45.25
-13.15%
|
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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