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AFTER MARKET UPDATE - FRIDAY, MAY 10TH, 2024
Previous After Market Report
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DOW |
+125.08 |
39,512.84 |
+0.32% |
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Volume |
888,277,252 |
-0% |
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Volume |
4,422,910,800 |
-3% |
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NASDAQ |
-5.40 |
16,340.87 |
-0.03% |
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Advancers |
1,280 |
46% |
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Advancers |
1,610 |
38% |
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S&P 500 |
+8.60 |
5,222.68 |
+0.16% |
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Decliners |
1,477 |
54% |
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Decliners |
2,606 |
62% |
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Russell 2000 |
-13.85 |
2,059.78 |
-0.67% |
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52 Wk Highs |
200 |
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52 Wk Highs |
168 |
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S&P 600 |
-5.38 |
1,324.38 |
-0.40% |
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52 Wk Lows |
20 |
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52 Wk Lows |
101 |
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Conditions are technically still considered a market "correction" (M criteria). Investors are still cautioned about making new buying efforts until a solid follow-through day marked by higher volume is noted confirming a new uptrend.
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Major Indices End Session Mixed But Higher on the Week
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Trade on Friday was mixed, capping off a winning week. The S&P 500 closed +0.2% higher than yesterday and +1.9% higher than last Friday. The Nasdaq Composite settled fractionally lower than yesterday and +1.1% higher than last Friday. Volume reported was lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth had a slightly negative tilt as decliners led advancers by a 7-6 margin on the NYSE and by 5-3 on the Nasdaq exchange. A healthy level of leadership further improved as there were 98 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus 91 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices remain in a market correction (M criteria). Patience is important for all investors until a follow-through day signals a new confirmed uptrend.
PICTURED: The Nasdaq Composite Index is consolidating after last week's rebound above its 50-day moving average (DMA) line.
The preliminary University of Michigan Index of Consumer Sentiment for May dropped to 67.4 in May (expected 76.5; prior 77.2) and showed a jump in year-ahead inflation expectations to 3.5% from 3.2%. The 10-yr note yield settled six basis points higher at 4.50%. The 2-yr note yield settled six basis points higher at 4.87%.
Strength in the semiconductor space came after TSMC (TSM +4.53%) reported a big jump in revenue in April. Six of the 11 S&P 500 sectors posted gains, with consumer staples (+0.6%), information technology (+0.5%), financials (+0.5%), and health care (+0.2%) sectors as top performers. The consumer discretionary sector logged the biggest decline, down 0.6%.
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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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Tech Sector Rose as Retail and Energy Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.79%) fell and the Broker/Dealer Index ($XBD -0.15%) also inched lower while the Bank Index ($BKX +0.33%) ended Friday's session with a small gain. The tech sector had a positive bias as the Semiconductor Index ($SOX +1.01%) and Networking Index ($NWX +0.95%) outpaced the Biotech Index ($BTK +0.30%). The Gold & Silver Index ($XAU +0.05%) finished flat while the Oil Services ($OSX -1.23%) and the Integrated Oil Index ($XOI -0.75%) both ended lower.
![]() PICTURED: The Semiconductor Index ($SOX +1.01%) posted a solid gain ending the week above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
86.64 |
-1.08 |
-1.23% |
+3.29% |
| Integrated Oil |
$XOI |
2,124.87 |
-16.10 |
-0.75% |
+14.09% |
| Semiconductor |
$SOX |
4,808.03 |
+48.26 |
+1.01% |
+15.15% |
| Networking |
$NWX |
765.05 |
+7.19 |
+0.95% |
-8.14% |
| Broker/Dealer |
$XBD |
618.70 |
-0.79 |
-0.13% |
+11.02% |
| Retail |
$RLX |
4,485.37 |
-35.85 |
-0.79% |
+15.34% |
| Gold & Silver |
$XAU |
142.24 |
+0.07 |
+0.05% |
+13.16% |
| Bank |
$BKX |
106.05 |
+0.35 |
+0.33% |
+10.44% |
| Biotech |
$BTK |
5,123.97 |
+15.25 |
+0.30% |
-5.44% |
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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 |
AXON
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NASDAQ
Axon Enterprise
Security/Sfty
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$303.43
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-5.66
-1.83% |
$309.70
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473,135
90.29% of 50 DAV
50 DAV is 524,000
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$329.87
-8.02%
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4/5/2024
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$309.90
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PP = $325.73
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MB = $342.02
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Most Recent Note - 5/10/2024 5:13:44 PM
G - Color code was changed to green on the prior session and it fell further below its 50 DMA line ($310) with today's 4th consecutive loss. More damaging losses below the prior low ($291.35 on 4/19/24) would trigger a worrisome technical sell signal. Reported Mar '24 quarterly earnings +31% on +34% sales revenues versus the year-ago period. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Found Support Near 50-Day Moving Average After Recent Stall - 4/29/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$1,310.49
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-8.37
-0.63% |
$1,330.82
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212,390
106.20% of 50 DAV
50 DAV is 200,000
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$1,330.38
-1.50%
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4/12/2024
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$1,224.21
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PP = $1,246.32
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MB = $1,308.64
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Most Recent Note - 5/10/2024 5:15:16 PM
G - Paused today after 7 consecutive gains as it rose to new all-time highs. It is extended from any sound base and its 50 DMA line ($1,224) defines near-term support to watch on pullbacks. Reported Mar '24 quarterly earnings +34% on +21% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Found Support at 50-Day Moving Average Line and Hit New High - 4/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$366.26
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-5.34
-1.44% |
$373.46
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25,380
97.62% of 50 DAV
50 DAV is 26,000
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$378.45
-3.22%
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2/9/2024
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$254.68
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PP = $265.09
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MB = $278.34
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Most Recent Note - 5/10/2024 5:17:08 PM
G - Volume cooled while it paused after a noted streak of 9 consecutive gains into new all-time high territory. Its 50 DMA line ($304) and recent lows define near-term support to watch. Bullish action came after it reported Mar '24 quarterly earnings +31% on +7% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Trading in Tight Range Near High - 4/26/2024 |
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,
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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