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AFTER MARKET UPDATE - MONDAY, APRIL 10TH, 2017
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DOW |
+1.92 |
20,658.02 |
+0.01% |
|
Volume |
794,038,550 |
-15% |
|
Volume |
1,475,190,110 |
-3% |
NASDAQ |
+3.12 |
5,880.93 |
+0.05% |
|
Advancers |
1,991 |
68% |
|
Advancers |
1,359 |
48% |
S&P 500 |
+1.62 |
2,357.16 |
+0.07% |
|
Decliners |
945 |
32% |
|
Decliners |
1,449 |
52% |
Russell 2000 |
+2.52 |
1,367.09 |
+0.18% |
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52 Wk Highs |
90 |
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|
52 Wk Highs |
66 |
|
S&P 600 |
+2.41 |
829.90 |
+0.29% |
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52 Wk Lows |
9 |
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52 Wk Lows |
39 |
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Leadership Improved But Major Indices Only Inched Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished little changed on Monday. The Dow was up 2 points to 20658. The S&P 500 added a point to 2357 and the Nasdaq Composite gained 3 points to 5880. The volume totals reported were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Advancers led decliners by 2-1 on the NYSE but breadth was near even and slightly tilted to the negative side on the Nasdaq exchange. Leadership improved as there were 18 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, up from the total of 11 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.
PICTURED: The Nasdaq Composite Index found support at its 50-day moving average (DMA) line during the recent consolidation. Subsequent losses leading to a 50 DMA line violation, or a violation of the recent low, would raise concerns regarding the market rally's health.
Leadership thinned again with respect to the number of high-ranked stocks hitting new highs as the major averages' (M criteria) uptrend recently came under pressure. 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 fluctuated on the session as Energy shares rose and investors digested geopolitical concerns. NYMEX WTI crude added 1.6% to $53.08/barrel after Libya’s largest oilfield was shut down. On the international front, G7 foreign ministers gathered in Italy for a two-day meeting which is expected to be dominated by talks of Syria. U.S. Secretary of State Rex Tillerson may provide an update on international issues at the meeting’s conclusion following a suspected chemical attack in Syria last week.
Six of 11 sectors in the S&P 500 ended in positive territory. Energy shares outperformed as oil prices have rebounded 9% over the past month. In M&A news, Straight Path Communications (STRP +151.21%) gapped considerably higher after agreeing to a $1.6 billion takeover bid from AT&T (T -0.52%). Swift Transportation (SWFT +23.73%) gapped up as the trucking company announced a stock-swap merger with rival Knight Transportation (KNX +13.38%). In the consumer space, Whole Foods (WFM +9.98%) rose as activist Jana Partners confirmed an 8.8% stake in the company. JM Smucker (SJM -1.32%) fell after being the subject of negative analyst commentary.
Treasuries finished higher with the benchmark 10-year note up 5/32 to yield 2.36%. In commodities, COMEX gold lost 0.3% to $1251.10/ounce.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups and Retail Index Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +0.63%) and the Integrated Oil Index ($XOI +0.85%) both rose, and the Oil Services Index ($OSX +1.74%) was a standout gainer. The Retail Index ($RLX +0.81%) also posted a solid gain, but the Bank Index ($BKX -0.64%) and the Broker/Dealer Index ($XBD -0.60%) both fell, creating a drag on the major indices on Monday. The tech sector saw small losses from the Semiconductor Index ($SOX -0.77%) and the Biotechnology Index ($BTK -0.41%). The Networking Index ($NWX -0.17%) edged lower, but did a better job of holding its ground. Charts courtesy www.stockcharts.com
PICTURED: The Biotechnology Index ($BTK -0.41%) started the year strong. Now it is consolidating near its 50-day moving average (DMA) line and near prior highs.
Oil Services |
$OSX |
171.51 |
+2.93 |
+1.74% |
-6.68% |
Integrated Oil |
$XOI |
1,195.28 |
+10.09 |
+0.85% |
-5.73% |
Semiconductor |
$SOX |
991.62 |
-7.73 |
-0.77% |
+9.39% |
Networking |
$NWX |
444.51 |
-0.77 |
-0.17% |
-0.36% |
Broker/Dealer |
$XBD |
209.46 |
-1.26 |
-0.60% |
+2.04% |
Retail |
$RLX |
1,456.00 |
+11.69 |
+0.81% |
+8.42% |
Gold & Silver |
$XAU |
86.67 |
+0.55 |
+0.64% |
+9.90% |
Bank |
$BKX |
90.33 |
-0.58 |
-0.64% |
-1.59% |
Biotech |
$BTK |
3,463.12 |
-14.21 |
-0.41% |
+12.62% |
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Quiet Volume Behind Gain for New High Close
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Essent Group Ltd (ESNT +$0.50 or +1.37% to $37.11) posted a small gain with below average volume today for a new high close (N criteria). It challenged its 52-week high with a gap up and big volume-driven gain last week triggering a new (or add-on) technical buy signal. It rallied above the new pivot point cited based on its 3/16/17 high, clearing the "double bottom" base formed over the past 8 weeks. But on that session it finished near the session low, a sign it might be encountering distributional pressure. With action like that, confirming gains with higher volume would be an ideal reassurance that its shares are still under serious accumulation by institutional investors (I criteria).
ESNT finished strong after first highlighted in yellow with pivot point cited based on its 12/12/16 high plus 10 cents in the 1/25/17 mid-day report (read here). It found prompt support near prior highs after undercutting its 50-day moving average (DMA) line during its consolidation since last shown in this FSU section on 3/10/17 with an annotated graph under the headline, "Consolidating Above Support Following Breakout".
The high-ranked Finance-Mrtg and Rel Svc firm's quarterly earnings have been above the +25% minimum guideline (C criteria) and sales revenues increases in comparisons through Dec'16 have been strong. Its annual earnings (A criteria) history has been good since its $17 IPO on 10/31/13. It completed a new Public Offering on 11/19/14.
The number of top-ranted funds owning its shares rose from 317 in Mar '16 to 407 in Mar '17, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under slight accumulation over the past 50 days.
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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 |
SBCF
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NASDAQ
Seacoast Banking Corp Fl
BANKING - Regional - Mid-Atlantic Banks
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$23.99
|
+0.05
0.21% |
$24.21
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268,384 60.45% of 50 DAV
50 DAV is 444,000
|
$25.13 -4.54%
|
2/13/2017
|
$24.84
|
PP = $23.10
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MB = $24.26
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Most Recent Note - 4/6/2017 5:22:26 PM
Y - Managed a "positive reversal" today after undercutting its 50 DMA line ($23.34). Subsequent deterioration below the 50 DMA line and recent low ($21.89 on 3/22/17) would raise more serious concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Rebound After Slump Below 50-Day Average Into Prior Base - 3/28/2017 |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$24.36
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-0.26
-1.06% |
$24.96
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175,456 59.08% of 50 DAV
50 DAV is 297,000
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$26.94 -9.57%
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3/13/2017
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$25.54
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PP = $26.40
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MB = $27.72
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Most Recent Note - 4/5/2017 3:59:11 PM
G - Slumped below its 50 DMA line ($25.16) and its color code is changed to green again. Subsequent losses below its recent low ($23.70 on 3/27/17) would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Gain Backed By Volume For Best Ever Close - 3/15/2017 |
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C
A
S
I |
NSP
-
NYSE
Insperity Inc
Comml Svcs-Outsourcing
|
$85.80
|
-0.20
-0.23% |
$87.05
|
64,946 40.59% of 50 DAV
50 DAV is 160,000
|
$90.55 -5.25%
|
2/14/2017
|
$84.30
|
PP = $82.28
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MB = $86.39
|
Most Recent Note - 4/6/2017 5:20:57 PM
Y - Quietly consolidating just below its "max buy" level. Old highs the $82 area define support along with its 50 DMA line ($82.66).
>>> FEATURED STOCK ARTICLE : Ordinary Pullback From Highs With Lighter Volume - 3/22/2017 |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
|
$272.33
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-4.89
-1.76% |
$278.91
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913,669 79.04% of 50 DAV
50 DAV is 1,156,000
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$308.66 -11.77%
|
2/10/2017
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$259.30
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PP = $272.68
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MB = $286.31
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Most Recent Note - 4/5/2017 12:49:57 PM
G - Rebounding today after violating its 50 DMA line ($279.76) with a volume-driven loss on the prior session triggering a technical sell signal. Prior highs in the $272 area define important chart support to watch.
>>> FEATURED STOCK ARTICLE : Consolidating in Tight Range Following Breakaway Gap - 3/23/2017 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$60.13
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-1.28
-2.08% |
$61.77
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144,914 101.34% of 50 DAV
50 DAV is 143,000
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$64.32 -6.51%
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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 - 4/7/2017 5:27:23 PM
G - Volume totals have been cooling while stubbornly holding its ground near its all-time high. Previously noted with caution - "Reported earnings +0% on +4% sales revenues for the Dec '16 quarter versus the year ago period, marking a 2nd comparison below the +25% minimum earnings guideline (C criteria), and its waning sales revenues growth rate is also a concern."
>>> FEATURED STOCK ARTICLE : Bullish Action Led to +54% Rally Since First Featured - 3/17/2017 |
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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 |
SIRI
-
NASDAQ
Sirius X M Holdings Inc
MEDIA - Broadcasting - Radio
|
$5.10
|
-0.06
-1.16% |
$5.17
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15,855,655 67.44% of 50 DAV
50 DAV is 23,512,000
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$5.53 -7.78%
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3/13/2017
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$5.48
|
PP = $5.32
|
MB = $5.59
|
Most Recent Note - 4/5/2017 4:09:37 PM
Y - Consolidating quietly above its 50 DMA line ($5.03), but a recent slump into the previous short base raised concerns. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. First highlighted in the 3/13/17 mid-day report (read here) in yellow with pivot point cited based on its 2/22/17 high plus 10 cents.
>>> FEATURED STOCK ARTICLE : Breakout From Advanced Base Pattern Backed By Very Heavy Volume - 3/13/2017 |
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C
A
S
I |
BEAT
-
NASDAQ
BioTelemetry Inc
Medical-Services
|
$29.70
|
+2.40
8.79% |
$31.70
|
1,794,133 474.64% of 50 DAV
50 DAV is 378,000
|
$29.50 0.68%
|
2/14/2017
|
$25.10
|
PP = $24.55
|
MB = $25.78
|
Most Recent Note - 4/10/2017 12:17:33 PM
G - Gapped up today hitting new highs on M&A news. Disciplined investors avoid chasing extended stocks. During recent consolidations it found support well above its 50 DMA line and above prior highs in the $24 area.
>>> FEATURED STOCK ARTICLE : Perched Near High, Extended From Prior Base - 4/3/2017 |
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C
A
S
I |
ULTA
-
NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
|
$286.59
|
+2.09
0.73% |
$287.46
|
360,017 54.07% of 50 DAV
50 DAV is 665,800
|
$289.27 -0.93%
|
3/6/2017
|
$274.96
|
PP = $278.73
|
MB = $292.67
|
Most Recent Note - 4/7/2017 5:25:31 PM
Y - Still consolidating near its all-time high with volume totals cooling. Prior highs in the $278 area define support along with its 50 DMA line. Subsequent losses leading to violations would raise concerns and trigger technical sell signals. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling Following Technical Breakout - 4/7/2017 |
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C
A
S
I |
ESNT
-
NYSE
Essent Group Ltd
Finance-MrtgandRel Svc
|
$37.11
|
+0.50
1.37% |
$37.25
|
548,216 76.25% of 50 DAV
50 DAV is 719,000
|
$38.10 -2.60%
|
4/4/2017
|
$36.38
|
PP = $36.81
|
MB = $38.65
|
Most Recent Note - 4/10/2017 5:46:50 PM
Y - Rose today with lighter than average volume for a best-ever close. New pivot point was cited based on its 3/16/17 high, the middle peak of the "double bottom" base formed over the prior 8 weeks. Its 50 DMA line and recent lows define important near-term support. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Quiet Volume Behind Gain for New High Close - 4/10/2017 |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$50.79
|
-0.80
-1.55% |
$51.95
|
1,312,592 107.77% of 50 DAV
50 DAV is 1,218,000
|
$51.90 -2.14%
|
3/16/2017
|
$49.00
|
PP = $48.05
|
MB = $50.45
|
Most Recent Note - 4/10/2017 5:49:20 PM
G - Touched a new all-time high today but reversed into the red for a loss on average volume. Prior highs in the $47-48 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Breakout Gain for New Highs Backed by Three Times Average Volume - 3/16/2017 |
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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 |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$133.27
|
+0.82
0.62% |
$134.10
|
419,631 48.62% of 50 DAV
50 DAV is 863,000
|
$135.27 -1.48%
|
3/6/2017
|
$119.43
|
PP = $123.22
|
MB = $129.38
|
Most Recent Note - 4/7/2017 5:31:44 PM
G - Pulled back slightly today with light volume, remaining perched near its all-time high, extended from any sound base. Disciplined investors avoid chasing extended stocks.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After a Considerable Rally - 4/5/2017 |
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C
A
S
I |
VBTX
-
NASDAQ
Veritex Holdings Inc
BANKING - Regional - Southwest Banks
|
$26.96
|
-0.04
-0.15% |
$27.00
|
81,245 90.27% of 50 DAV
50 DAV is 90,000
|
$29.43 -8.39%
|
1/23/2017
|
$27.30
|
PP = $27.87
|
MB = $29.26
|
Most Recent Note - 4/5/2017 4:11:24 PM
G - Slumped further below its 50 DMA line today and undercut the prior low ($26.82 on 3/10/17) raising more serious concerns and triggering a worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Hovering Near Highs But Latest Earnings Were Below Guidelines - 3/8/2017 |
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C
A
S
I |
IBP
-
NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services
|
$51.25
|
-0.20
-0.39% |
$51.83
|
84,562 54.21% of 50 DAV
50 DAV is 156,000
|
$53.00 -3.30%
|
2/27/2017
|
$44.83
|
PP = $44.40
|
MB = $46.62
|
Most Recent Note - 4/7/2017 5:29:50 PM
G - Volume totals have been cooling while hovering in a tight range near its all-time high, extended from its prior base. Its 50 DMA line ($46.80) defines initial support to watch above prior highs in the $44 area.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High Following Volume-Driven Gains - 4/4/2017 |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$75.64
|
-1.22
-1.59% |
$77.25
|
121,368 71.82% of 50 DAV
50 DAV is 169,000
|
$79.94 -5.38%
|
2/27/2017
|
$68.69
|
PP = $69.94
|
MB = $73.44
|
Most Recent Note - 4/10/2017 5:52:03 PM
G - Traded light volume today while pulling back from its all-time high. It is extended from its prior base. Its 50 DMA line ($71.69) and prior highs in the $69 area define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Best Ever Close For High-Ranked Medical Product Maker - 3/31/2017 |
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C
A
S
I |
PLAY
-
NASDAQ
Dave & Buster's Ent Inc
Retail-Restaurants
|
$59.64
|
-0.03
-0.05% |
$60.44
|
430,940 52.43% of 50 DAV
50 DAV is 822,000
|
$63.12 -5.51%
|
2/23/2017
|
$55.41
|
PP = $58.35
|
MB = $61.27
|
Most Recent Note - 4/5/2017 4:05:42 PM
G - Pulling back with lighter volume after volume-driven gains for new all-time highs. Reported earnings +19% on +15% sales revenues for the Jan '17 quarter, below the +25% minimum guideline (C criteria). Its 50 DMA line ($57.65) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Retreated From All-Time High Following Earnings Report - 3/29/2017 |
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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 |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$33.95
|
+0.35
1.04% |
$34.65
|
512,569 93.36% of 50 DAV
50 DAV is 549,000
|
$35.80 -5.17%
|
3/27/2017
|
$32.80
|
PP = $33.55
|
MB = $35.23
|
Most Recent Note - 4/5/2017 4:04:12 PM
Y - Still hovering near its all-time high, but it has quietly slumped below the prior pivot point. Reported earnings +22% on +16% sales revenues for the Jan '17 quarter, below the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : No Resistance Remains and Earnings News is Due - 3/27/2017 |
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C
A
S
I |
LITE
-
NASDAQ
Lumentum Holdings Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$47.15
|
-1.05
-2.18% |
$48.44
|
1,544,117 83.20% of 50 DAV
50 DAV is 1,856,000
|
$55.92 -15.69%
|
2/8/2017
|
$44.60
|
PP = $44.80
|
MB = $47.04
|
Most Recent Note - 4/5/2017 12:31:23 PM
G - Consolidating above its 50 DMA line ($46.86) which defines important near-term support to watch above prior highs.
>>> FEATURED STOCK ARTICLE : Support Elusive Following Prior Demand - 3/14/2017 |
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C
A
S
I |
MOMO
-
NASDAQ
Momo Inc Ads Cl A
INTERNET - Content
|
$37.50
|
+2.57
7.36% |
$38.12
|
9,603,353 214.55% of 50 DAV
50 DAV is 4,476,000
|
$36.18 3.65%
|
3/7/2017
|
$29.71
|
PP = $27.83
|
MB = $29.22
|
Most Recent Note - 4/10/2017 12:33:45 PM
G - Powering to new all-time highs with today's 3rd consecutive gain, getting more extended from the previously noted base. Its 50 DMA line ($29.43) and prior highs in the $28 area define important support to watch.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched Near High - 4/6/2017 |
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A
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I |
|
|
|
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