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AFTER MARKET UPDATE - FRIDAY, DECEMBER 29TH, 2023
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DOW |
-20.56 |
37,689.54 |
-0.05% |
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Volume |
871,765,117 |
+32% |
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Volume |
5,502,937,400 |
+5% |
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NASDAQ |
-83.78 |
15,011.35 |
-0.56% |
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Advancers |
772 |
28% |
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Advancers |
1,242 |
29% |
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S&P 500 |
-13.52 |
4,769.83 |
-0.28% |
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Decliners |
1,998 |
72% |
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Decliners |
3,099 |
71% |
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Russell 2000 |
-31.26 |
2,027.07 |
-1.52% |
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52 Wk Highs |
97 |
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52 Wk Highs |
109 |
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S&P 600 |
-17.69 |
1,318.26 |
-1.32% |
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52 Wk Lows |
9 |
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52 Wk Lows |
66 |
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Major Indices Quietly Edged Lower to End a Solidly Positive Year
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow Jones Industrial Average (-0.1%), S&P 500 (-0.3%), and Nasdaq Composite (-0.6%) closed with modest losses off their lows of the day. The S&P 500 ended just below its all-time high. It climbed 15.8% since October 27 and posted a +24.2% gain this year. Volume was reported higher than the prior session total on the NYSE and lighter on the Nasdaq exchange, but still light heading into the long holiday weekend. Decliners led advancers by a 5-2 margin on the NYSE and more than 2-1 on the Nasdaq exchange. There were 38 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 57 on the prior session. New 52-week highs totals contracted yet still outnumbered new 52-week lows totals on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). New buying efforts should be only made in stocks fitting all key criteria of the fact-based investment system.
PICTURED: The Nasdaq Composite Index is perched near its 2023 high. The defensive-oriented consumer staples (+0.2%) and health care (+0.03%) sectors closed with gains. Eight of the remaining nine S&P 500 sectors logged losses ranging from 0.1% (utilities) to 0.6% (consumer discretionary), while the real estate sector dropped -1.2%. As the market faded in late afternoon Amazon.com (AMZN -0.9%) ended lower after it was up 0.3% at its early high, and NVIDIA (NVDA +0.0%) finished flat after trading up 1.0% at its session high.
The Chicago PMI dropped to 46.9% in December from 55.8% in November. The 2-yr note yield declined four basis points today to 4.25% and the 10-yr note yield rose three basis points to 3.88%.
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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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Financial, Retail, Tech, and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX -0.67%), Broker/Dealer Index ($XBD -0.45%), and the Retail Index ($RLX -0.56%) each finished with modest losses. The Networking Index ($NWX -0.98%), Semiconductor Index ($SOX -0.79%), and Biotech Index ($BTK -0.25%) each ended in the red. Commodity-linked groups also had a negative bias as the Oil Services Index ($OSX -1.13%) and the Gold & Silver Index ($XAU -0.67%) each lost ground and the Integrated Oil Index ($XOI -0.04%) finished flat.
PICTURED: The Integrated Oil Index ($XOI -0.04%) is consolidating above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
83.88 |
-0.96 |
-1.13% |
+0.02% |
| Integrated Oil |
$XOI |
1,862.47 |
-0.78 |
-0.04% |
+4.21% |
| Semiconductor |
$SOX |
4,175.47 |
-33.21 |
-0.79% |
+64.90% |
| Networking |
$NWX |
832.81 |
-8.22 |
-0.98% |
+6.32% |
| Broker/Dealer |
$XBD |
557.29 |
-2.50 |
-0.45% |
+24.08% |
| Retail |
$RLX |
3,888.77 |
-21.98 |
-0.56% |
+41.20% |
| Gold & Silver |
$XAU |
125.69 |
-0.84 |
-0.67% |
+4.00% |
| Bank |
$BKX |
96.02 |
-0.65 |
-0.67% |
-4.79% |
| Biotech |
$BTK |
5,418.80 |
-13.73 |
-0.25% |
+2.61% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
ANET
-
NYSE
Arista Networks
Computer-Networking
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$235.51
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-1.46
-0.62% |
$237.90
|
898,775
42.20% of 50 DAV
50 DAV is 2,130,000
|
$240.68
-2.15%
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10/31/2023
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$188.84
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PP = $198.80
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MB = $208.74
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Most Recent Note - 12/26/2023 8:38:00 PM
G - Hovering near its all-time high, extended from any sound base. Its 50 DMA line ($212) defines near-term support above the prior low in the $210 area. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Base and Hovering at All-Time High - 12/26/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$103.45
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-0.02
-0.02% |
$103.68
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2,055,554
49.90% of 50 DAV
50 DAV is 4,119,000
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$105.69
-2.12%
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11/2/2023
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$100.97
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PP = $104.10
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MB = $109.31
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Most Recent Note - 12/28/2023 6:21:31 PM
Y - There was a "negative reversal" after an early gain today as, with light volume, it closed at the session low. Recently wedged above its 50 DMA line ($99.75) toward its high with gains lacking great volume conviction. Its 50 DMA line defines initial support above the recent low ($94.73 on 12/11/23) on pullbacks.
>>> FEATURED STOCK ARTICLE : Managed a "Positive Reversal" but Still Below 50-Day Moving Average - 12/11/2023 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
QLYS
-
NASDAQ
Qualys
Computer Sftwr-Security
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$196.31
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-1.98
-1.00% |
$197.89
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273,717
74.99% of 50 DAV
50 DAV is 365,000
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$206.35
-4.87%
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11/3/2023
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$167.50
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PP = $165.03
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MB = $173.28
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Most Recent Note - 12/27/2023 5:35:13 PM
G - Pulled back today for a 2nd loss with light volume, consolidating after a streak of 10 consecutive gains for new all-time highs. It is very extended from any sound base. Its 50 DMA line ($177.60) defines initial support to watch.
>>> FEATURED STOCK ARTICLE : Extended From Base Following Big Breakout - 12/12/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
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$258.34
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-0.25
-0.10% |
$259.45
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330,346
75.42% of 50 DAV
50 DAV is 438,000
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$260.69
-0.90%
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11/8/2023
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$127.84
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PP = $223.30
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MB = $234.47
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Most Recent Note - 12/28/2023 6:17:58 PM
G - Volume totals have been cooling while stubbornly holding its ground near its all-time high. On pullbacks, the prior highs in the $229-231 area define near-term support to watch coinciding with its 50-day moving average (DMA) line ($229).
>>> FEATURED STOCK ARTICLE : Axon Enterprise Hits New High With 6th Straight Gain - 12/13/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$1,011.60
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-1.19
-0.12% |
$1,018.50
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155,685
69.19% of 50 DAV
50 DAV is 225,000
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$1,015.72
-0.41%
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12/12/2023
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$1,000.39
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PP = $1,013.18
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MB = $1,063.84
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Most Recent Note - 12/26/2023 8:41:22 PM
Y - Posted a 3rd consecutive gain backed by light volume for its second-best ever close. The new pivot point cited was based on its 11/14/23 high plus 10 cents, however, gains above the pivot point were not backed by the +40% above-average volume necessary to trigger a proper new technical buy signal. Fundamentals remain strong. Recent lows in the $950 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume-Driven Loss Breaks Streak of 6 Straight Gains - 12/14/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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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 |
PANW
-
NASDAQ
Palo Alto Networks
Computer Sftwr-Security
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$294.92
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-0.66
-0.22% |
$296.72
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2,063,274
47.17% of 50 DAV
50 DAV is 4,374,000
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$318.00
-7.26%
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11/13/2023
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$255.90
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PP = $266.00
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MB = $279.30
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Most Recent Note - 12/27/2023 5:19:13 PM
G - Pulled back today with light volume and volume totals have been cooling while still consolidating near its all-time high. Prior highs in the $265 area define important support to watch along with its 50 DMA line ($270). Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Consolidating After Volume-Driven Gains for All-Time Highs - 12/15/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
URI
-
NYSE
United Rentals
Comml Svcs-Leasing
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$573.42
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-5.27
-0.91% |
$582.99
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299,392
37.28% of 50 DAV
50 DAV is 803,000
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$585.50
-2.06%
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12/1/2023
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$499.51
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PP = $488.73
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MB = $513.17
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Most Recent Note - 12/28/2023 6:23:40 PM
G - Sputtered today but recovered to end in the upper third of its intra-day range with a small loss on below-average volume, perched very near its all-time high. On pullbacks, the prior highs define near-term support to watch above its 50 DMA line ($478).
>>> FEATURED STOCK ARTICLE : Perched Near All-Time High Following Volume-Driven Gains - 12/19/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
Chart |
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C
A
S
I |
AMPH
-
NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech
|
$61.85
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-0.32
-0.51% |
$62.87
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448,577
106.55% of 50 DAV
50 DAV is 421,000
|
$67.66
-8.59%
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12/4/2023
|
$60.84
|
PP = $58.35
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MB = $61.27
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Most Recent Note - 12/28/2023 6:16:08 PM
G - Color code is changed to green after Tuesday's volume-driven gain triggered a technical buy signal and it rose above its "max buy" level. Little resistance remains due to overhead supply. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Consolidating Above Pivot Point With Volume Cooling - 12/21/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
TBBK
-
NASDAQ
The Bancorp
Banks-Northeast
|
$38.56
|
-1.23
-3.09% |
$39.86
|
346,829
80.10% of 50 DAV
50 DAV is 433,000
|
$42.46
-9.19%
|
12/4/2023
|
$39.88
|
PP = $41.62
|
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MB = $43.70
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Most Recent Note - 12/29/2023 5:01:31 PM
Y - Fell toward its 50 DMA line ($38.18) with today's 3rd consecutive loss. Subsequent gains and a strong close above the pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal.
>>> FEATURED STOCK ARTICLE : Negative Reversals are Signs of Distributional Pressure - 12/22/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
LULU
-
NASDAQ
lululemon athletica
Retail-Apparel/Shoes/Acc
|
$511.39
|
+2.17
0.43% |
$516.39
|
917,315
56.24% of 50 DAV
50 DAV is 1,631,000
|
$513.50
-0.41%
|
12/8/2023
|
$490.61
|
PP = $485.93
|
|
MB = $510.23
|
Most Recent Note - 12/27/2023 5:33:17 PM
Y - Hovering near its all-time high but still below its "max buy" level with volume totals cooling. Its 2021 high of $485 defines initial support to watch after its recent breakout from a 2+ year base. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched at All-Time High With Volume Totals Cooling - 12/27/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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 |
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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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only to active Paid Premium Members.
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or 954-785-1121.
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