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AFTER MARKET UPDATE - TUESDAY, APRIL 23RD, 2024
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DOW |
+263.71 |
38,503.69 |
+0.69% |
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Volume |
906,694,009 |
-3% |
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Volume |
5,000,350,700 |
+4% |
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NASDAQ |
+244.83 |
15,696.14 |
+1.58% |
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Advancers |
2,273 |
82% |
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Advancers |
3,053 |
72% |
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S&P 500 |
+59.95 |
5,070.55 |
+1.20% |
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Decliners |
486 |
18% |
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Decliners |
1,158 |
27% |
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Russell 2000 |
+35.17 |
2,002.64 |
+1.79% |
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52 Wk Highs |
59 |
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52 Wk Highs |
57 |
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S&P 600 |
+24.09 |
1,288.16 |
+1.91% |
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52 Wk Lows |
16 |
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52 Wk Lows |
87 |
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Since Wednesday April 10th members of FACTBASEDINVESTING.COM were cautioned as a shift in conditions (M criteria) signaled a market "correction". Use greater caution, raise cash and reduce exposure by selling any weakening stocks on a case-by-case basis. New buying efforts will be avoided by disciplined investors until a solid follow-through day is noted confirming a new uptrend.
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Breadth Positive as Indices Posted Gains With More Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 rose +1.2%, Nasdaq Composite Index rose +1.6%, and the Russell 2000 jumped 1.8%. The Dow Jones Industrial Average only posted a +0.7% gain. Volume reported was higher than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by more than a 4-1 margin on the NYSE and by more than a 2-1 margin on the Nasdaq exchange. There were 29 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus 15 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new 52-week lows still outnumbered new highs on the Nasdaq exchange. The major indices recently signaled a market correction (M criteria). Greater caution is important for all investors until a follow-through day signals a new confirmed uptrend.
PICTURED: The S&P 500 Index posted a 2nd consecutive gain, rebounding toward its 50-day moving average (DMA) line.
The preliminary manufacturing PMI and services PMI data for April reported by S&P Global registered softer readings than in March, with the manufacturing PMI number (49.9) sliding below the 50.0 line that demarcates expansion and contraction. There was a stronger-than-expected New Home Sales Report for March.
The best gainers were communication services (+1.9%), information technology (+1.7%), industrials (+1.4%), health care (+1.3%), and consumer discretionary (+1.2%). The latter featured the outperformance of Tesla (TSLA +1.85%) which was due to report its quarterly results after the close. GE Aerospace (GE +8.28%), UPS (UPS +2.41%), Danaher (DHR +7.21%), General Motors (GM +4.37%), and PulteGroup (PHM +4.57%) each traded higher following earnings reports. Meanwhile, disappointing results and/or guidance from Nucor (NUE -8.87%) and Packaging Corp. (PKG -4.69%) created a drag on the materials sector (-0.8%) which was the only S&P 500 sector finishing the session in negative territory.
A fresh $69 billion 2-yr note auction was met with strong demand. The 2-yr note yield settled the day down five basis points at 4.92% and the 10-yr note yield slipped three basis points to 4.60%.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.06%) outpaced the Broker/Dealer Index ($XBD +0.85%) as both financial indexes posted influential gains. The Retail Index ($RLX +1.00%) also had a positive impact on the major indices. The tech sector clearly had a positive bias as the Semiconductor Index ($SOX +2.21%), Networking Index ($NWX +1.53%), and the Biotech Index ($BTK +1.60%) each rose. The Gold & Silver Index ($XAU +1.41%), Oil Services Index ($OSX +1.19%), and the Integrated Oil Index ($XOI +0.66%) rounded out the widely positive session with gains.
![]() PICTURED: The Gold & Silver Index ($XAU +1.41%) has recently slumped, testing near its December 2023 high.
| Oil Services |
$OSX |
88.72 |
+1.05 |
+1.19% |
+5.77% |
| Integrated Oil |
$XOI |
2,191.02 |
+14.40 |
+0.66% |
+17.64% |
| Semiconductor |
$SOX |
4,478.80 |
+96.88 |
+2.21% |
+7.26% |
| Networking |
$NWX |
743.46 |
+11.18 |
+1.53% |
-10.73% |
| Broker/Dealer |
$XBD |
592.10 |
+4.97 |
+0.85% |
+6.25% |
| Retail |
$RLX |
4,345.53 |
+43.21 |
+1.00% |
+11.75% |
| Gold & Silver |
$XAU |
132.86 |
+1.85 |
+1.41% |
+5.70% |
| Bank |
$BKX |
103.16 |
+1.08 |
+1.06% |
+7.44% |
| Biotech |
$BTK |
4,989.80 |
+78.76 |
+1.60% |
-7.92% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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 |  NVO - NYSE
Novo Nordisk ADR
Medical-Ethical Drugs | $128.64 | +3.38
2.70% | $128.76 | 3,697,696
76.65% of 50 DAV
50 DAV is 4,824,000 | $138.28
-6.97%
| 3/1/2024 | $124.23 | PP = $124.97 | | MB = $131.22 | Most Recent Note - 4/22/2024 11:36:58 PM
G - Consolidating just below its 50 DMA line ($126) which may now act as resistance. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Volume Cools While Consolidating Above 50-Day Moving Average Line - 4/3/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | AXON - NASDAQ
Axon Enterprise
Security/Sfty | $301.56 | +7.76
2.64% | $302.57 | 461,277
88.20% of 50 DAV
50 DAV is 523,000 | $329.87
-8.58%
| 4/5/2024 | $309.90 | PP = $325.73 | | MB = $342.02 |  Most Recent Note - 4/23/2024 5:59:01 PM
Y - Posted a gain today with near-average volume and closed just above its 50 DMA line ($301). Color code was changed to yellow with new pivot point cited based on its 3/04/24 high plus 10 cents. A gain above the pivot point backed by at least +40% above average volume is needed to trigger a proper technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Building a New Base - 4/8/2024 | 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 | $1,242.40 | +41.47
3.45% | $1,244.66 | 241,372
122.52% of 50 DAV
50 DAV is 197,000 | $1,248.39
-0.48%
| 4/12/2024 | $1,224.21 | PP = $1,246.32 | | MB = $1,308.64 | Most Recent Note - 4/23/2024 5:54:37 PM
Y - Posted a solid gain today with +22% above average volume for a best-ever close. Color code was changed to yellow after holding its ground in a tight range near its all-time high. New pivot point was cited based on its 4/04/24 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper new technical buy signal. Its 50 DMA line ($1,193) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Perched Near High - 4/9/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | PCAR - NASDAQ
Paccar
Trucks and Parts-Hvy Duty | $113.32 | +0.74
0.66% | $113.66 | 2,399,673
106.94% of 50 DAV
50 DAV is 2,244,000 | $125.50
-9.71%
| 1/23/2024 | $100.35 | PP = $98.57 | | MB = $103.50 | Most Recent Note - 4/19/2024 12:06:30 PM
G - Violated its 50 DMA line ($115) this week triggering a technical sell signal and it is on track today for a 6th consecutive loss. A prompt rebound above the 50 DMA line is needed for its outlook to improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Pulling Back From High and Slumping Toward 50-Day Moving Average - 4/12/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | HUBB - NYSE
Hubbell
Electrical-Power/Equipmt | $398.00 | +7.44
1.90% | $400.48 | 255,026
63.28% of 50 DAV
50 DAV is 403,000 | $429.61
-7.36%
| 1/30/2024 | $343.26 | PP = $336.83 | | MB = $353.67 | Most Recent Note - 4/19/2024 6:40:48 PM
G - Closed below its 50 DMA line ($390) with a loss today on near-average volume raising concerns. Slumped for 8 losses in the span of 10 sessions after a noted "negative reversal" at its all-time high on 4/04/24. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Closed Just Below 50-Day Moving Average With Quiet Loss - 4/19/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note 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 | USLM - NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag | $304.28 | +3.92
1.31% | $307.78 | 22,966
99.85% of 50 DAV
50 DAV is 23,000 | $308.00
-1.21%
| 2/9/2024 | $254.68 | PP = $265.09 | | MB = $278.34 | Most Recent Note - 4/23/2024 6:01:02 PM
G - Posted a 3rd consecutive gain today challenging its all-time high. Its 50 DMA line ($282.71) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best Ever Close - 4/5/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | PAY - NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr | $20.18 | +0.82
4.24% | $20.18 | 218,309
55.55% of 50 DAV
50 DAV is 393,000 | $25.21
-19.95%
| 3/5/2024 | $19.97 | PP = $18.89 | | MB = $19.83 | Most Recent Note - 4/23/2024 5:57:26 PM
G - Posted a solid gain today, finding support near its 50 DMA line ($19.68). Prior highs in the $18 range define the next support. More damaging losses would raise greater concerns. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Prior Highs Define Important Near-Term Support - 4/22/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | HUBS - NYSE
HubSpot
Comp Sftwr-Spec Enterprs | $651.78 | +18.74
2.96% | $656.80 | 680,621
125.34% of 50 DAV
50 DAV is 543,000 | $693.85
-6.06%
| 4/4/2024 | $686.66 | PP = $660.10 | | MB = $693.11 | Most Recent Note - 4/23/2024 6:03:00 PM
Y - Posted a solid gain today with +25% above average volume, finding support at its 50 DMA line ($626). Stalled after highlighted yellow in the 4/04/24 mid-day report with pivot point cited based on its 2/09/24 high plus 10 cents. Fundamentals remain strong. Faces some resistance due to old overhead supply up to the $866 level.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure and Finished Below Pivot Point - 4/4/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I |
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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 |
NVO
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NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$125.26
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+2.55
2.08% |
$126.25
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3,798,340
78.49% of 50 DAV
50 DAV is 4,839,000
|
$138.28
-9.42%
|
3/1/2024
|
$124.23
|
PP = $124.97
|
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MB = $131.22
|
Most Recent Note - 4/22/2024 11:36:58 PM
G - Consolidating just below its 50 DMA line ($126) which may now act as resistance. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Volume Cools While Consolidating Above 50-Day Moving Average Line - 4/3/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
|
$293.80
|
+0.20
0.07% |
$296.88
|
513,484
98.94% of 50 DAV
50 DAV is 519,000
|
$329.87
-10.93%
|
4/5/2024
|
$309.90
|
PP = $325.73
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MB = $342.02
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Most Recent Note - 4/17/2024 3:43:19 PM
Y - Testing its 50 DMA line ($298.68) today after 3 consecutive losses. Color code was changed to yellow with new pivot point cited based on its 3/04/24 high plus 10 cents. A gain above the pivot point backed by at least +40% above average volume is needed to trigger a proper technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Building a New Base - 4/8/2024 |
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
|
$1,200.93
|
+13.23
1.11% |
$1,213.66
|
147,923
72.87% of 50 DAV
50 DAV is 203,000
|
$1,248.39
-3.80%
|
4/12/2024
|
$1,224.21
|
PP = $1,246.32
|
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MB = $1,308.64
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Most Recent Note - 4/17/2024 4:03:56 PM
Y - Color code is changed to yellow after holding its ground in a tight range near its all-time high. New pivot point was cited based on its 4/04/24 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper new technical buy signal. Its 50 DMA line ($1,187) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Perched Near High - 4/9/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
PCAR
-
NASDAQ
Paccar
Trucks and Parts-Hvy Duty
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$112.58
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+1.39
1.25% |
$113.69
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2,021,362
89.92% of 50 DAV
50 DAV is 2,248,000
|
$125.50
-10.29%
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1/23/2024
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$100.35
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PP = $98.57
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MB = $103.50
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Most Recent Note - 4/19/2024 12:06:30 PM
G - Violated its 50 DMA line ($115) this week triggering a technical sell signal and it is on track today for a 6th consecutive loss. A prompt rebound above the 50 DMA line is needed for its outlook to improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Pulling Back From High and Slumping Toward 50-Day Moving Average - 4/12/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$390.56
|
+2.53
0.65% |
$393.68
|
391,009
97.51% of 50 DAV
50 DAV is 401,000
|
$429.61
-9.09%
|
1/30/2024
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$343.26
|
PP = $336.83
|
|
MB = $353.67
|
Most Recent Note - 4/19/2024 6:40:48 PM
G - Closed below its 50 DMA line ($390) with a loss today on near-average volume raising concerns. Slumped for 8 losses in the span of 10 sessions after a noted "negative reversal" at its all-time high on 4/04/24. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Closed Just Below 50-Day Moving Average With Quiet Loss - 4/19/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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 |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$300.36
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+3.60
1.21% |
$303.08
|
18,428
80.12% of 50 DAV
50 DAV is 23,000
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$308.00
-2.48%
|
2/9/2024
|
$254.68
|
PP = $265.09
|
|
MB = $278.34
|
Most Recent Note - 4/17/2024 4:04:26 PM
G - Still hovering in a tight range in recent weeks near its all-time high, stubbornly holding its ground despite encountering some distributional pressure. Its 50 DMA line ($279) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best Ever Close - 4/5/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$19.36
|
+0.05
0.26% |
$19.64
|
166,792
42.66% of 50 DAV
50 DAV is 391,000
|
$25.21
-23.21%
|
3/5/2024
|
$19.97
|
PP = $18.89
|
|
MB = $19.83
|
Most Recent Note - 4/22/2024 11:35:27 PM
G - Still lingering near its 50 DMA line ($19.60) which defines important near-term support above prior highs in the $18 range. More damaging losses would raise greater concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Prior Highs Define Important Near-Term Support - 4/22/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HUBS
-
NYSE
HubSpot
Comp Sftwr-Spec Enterprs
|
$633.04
|
+1.80
0.29% |
$641.55
|
511,528
94.55% of 50 DAV
50 DAV is 541,000
|
$693.85
-8.76%
|
4/4/2024
|
$686.66
|
PP = $660.10
|
|
MB = $693.11
|
Most Recent Note - 4/19/2024 6:42:23 PM
Y - Pulled back today testing its 50 DMA line ($625) with a loss on +52% above-average volume. Stalled after highlighted yellow in the 4/04/24 mid-day report with pivot point cited based on its 2/09/24 high plus 10 cents. Initial support is at its prior highs and its 50 DMA line ($626). Fundamentals remain strong. Faces some resistance due to old overhead supply up to the $866 level.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure and Finished Below Pivot Point - 4/4/2024 |
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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
at any time. Questions or comments may be submitted
by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
or 954-785-1121.
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