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AFTER MARKET UPDATE - TUESDAY, MAY 24TH, 2016
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DOW |
+213.12 |
17,706.05 |
+1.22% |
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Volume |
866,811,460 |
+8% |
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Volume |
1,774,864,740 |
+3% |
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NASDAQ |
+95.28 |
4,861.06 |
+2.00% |
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Advancers |
2,325 |
77% |
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Advancers |
2,232 |
79% |
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S&P 500 |
+28.02 |
2,076.06 |
+1.37% |
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Decliners |
703 |
23% |
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Decliners |
608 |
21% |
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Russell 2000 |
+23.94 |
1,135.31 |
+2.15% |
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52 Wk Highs |
97 |
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52 Wk Highs |
85 |
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S&P 600 |
+14.53 |
694.02 |
+2.14% |
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52 Wk Lows |
17 |
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52 Wk Lows |
37 |
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Major Indices Rose With Better Leadership and Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished firmly higher on Tuesday. The Dow was up 212 points to 177705. The S&P 500 gained 27 points to 2076. The Nasdaq Composite climbed 95 points to 4861. The volume totals were reported higher on the NYSE and on the Nasdaq exchange, a sign that institutional buying demand was on the rise. Breadth was positive as advancers led decliners by more than 3-1 on the NYSE and on the Nasdaq exchange. There were 58 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, up considerably from the total of 21 on the prior session. New 52-highs solidly outnumbered new 52-week lows on both the NYSE and Nasdaq exchanges. PICTURED: The S&P 500 Index rebounded above its 50-day moving average (DMA) line. The benchmark index finished -2.7% off its record high hit on May 20, 2015.
The market's confirmed uptrend (M criteria) continues as stocks overcome recent pressure. On Tuesday the S&P 500 Index rebounded above its 50-day moving average line, meanwhile the Nasdaq Composite Index rebounded above both its 50 and 200 DMA lines. Leadership improved as more stocks hit new highs. Although very few issues have appeared to meet the fact-based investment system's guidelines or made meaningful headway in recent weeks, the latest expansion in leadership is a reassuring sign. The Featured Stocks Page includes current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. The major averages advanced following a better-than-expected update on the housing market. Shortly after the open, the Commerce Department reported showed new home sales rose unexpectedly rose 16.6% in April to its highest level since January 2008. Shares of Toll Brothers (TOL +8.7%) rose on the data and its quarterly results topping analyst forecasts. A separate release revealed manufacturing activity in the Richmond Fed region contracted in May. All 10 sectors in the S&P 500 finished in positive territory. Technology and Financials were the best performing groups on the session. Microsoft (MSFT +3.12%) and Alphabet (GOOG +2.25%) posted gains. Bank of America (BAC +1.45%) and JP Morgan Chase (JPM +1.70%) rose on expectations the Fed could raise interest rates as soon as the June FOMC meeting. Shares of Best Buy (BBY -7.42%) were down the most in the S&P 500 after a reduced second-quarter outlook. Anthem (ANTM -3.53%) fell on concerns of increased regulatory scrutiny over the health insurer’s proposed merger with Cigna (CI-1.06%). Treasuries declined with the benchmark 10-year note down 8/32 to yield 1.86%. In commodities, NYMEX WTI crude was up 1.5% to $48.79/barrel. COMEX gold lost 1.8% to $1228.50/ounce amid a stronger dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Retail and Financial Groups Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +3.19%) and the Bank Index ($BKX +1.60%) both helped boost the major averages while the Retail Index ($RLX +1.24%) also posted a solid gain. The tech sector saw unanimous gains from the Biotechnology Index ($BTK +1.76%), Semiconductor Index ($SOX +2.42%) and the Networking Index ($NWX +2.38%). The Integrated Oil Index ($XOI +0.95%) rose but the Oil Services Index ($OSX +0.05%) finished flat. Meanwhile, the Gold & Silver Index ($XAU -5.81%) was a standout with a big loss. Charts courtesy www.stockcharts.com
 PICTURED: The Biotechnology Index ($BTK +1.76%) is rebounding above its 50-day moving average (DMA) line toward prior highs.
| Oil Services |
$OSX |
161.00 |
+0.09 |
+0.06% |
+2.07% |
| Integrated Oil |
$XOI |
1,113.18 |
+10.42 |
+0.95% |
+3.77% |
| Semiconductor |
$SOX |
685.64 |
+16.18 |
+2.42% |
+3.34% |
| Networking |
$NWX |
360.08 |
+8.37 |
+2.38% |
-4.22% |
| Broker/Dealer |
$XBD |
165.33 |
+5.12 |
+3.19% |
-7.16% |
| Retail |
$RLX |
1,274.50 |
+15.58 |
+1.24% |
-0.70% |
| Gold & Silver |
$XAU |
80.15 |
-4.95 |
-5.82% |
+76.93% |
| Bank |
$BKX |
69.72 |
+1.10 |
+1.60% |
-4.60% |
| Biotech |
$BTK |
3,130.47 |
+54.28 |
+1.76% |
-17.92% |
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Solid Volume-Driven Gain Into New High Territory
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Patrick Industries Inc (PATK +$2.42 or +4.79% to $52.95) was highlighted in yellow with pivot point based on its 4/28/16 high plus 10 cents in the earlier mid-day report (read here). It finished strong with +132% above average volume as it hit new all-time highs confirming a technical buy signal with today's big gain, rallying with no resistance due to overhead supply.
It reported earnings +36% on +25% sales revenues for the Mar '16 quarter, and prior quarters were steadily above the +25% minimum earnings guideline (C criteria). A small downturn in FY '13 was a flaw previously noted in its annual earnings (A criteria) history.
Its current Up/Down Volume ratio of 1.6 is an unbiased indication that its shares were under accumulation over the past 50 days. The number of top-rated funds owning its share rose from 218 in Jun '15 to 245 in Mar '16, a reassuring trend concerning the I criteria. Its small supply of 14.2 million shares (S criteria) in the public float 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 |
TDG
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NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$254.65
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+5.91
2.38% |
$255.57
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699,759
126.77% of 50 DAV
50 DAV is 552,000
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$251.48
1.26%
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5/11/2016
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$248.33
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PP = $245.00
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MB = $257.25
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Most Recent Note - 5/24/2016 5:27:26 PM
Y - Rallied toward its "max buy" level with today's volume-driven gain. Volume totals had been cooling while stubbornly holding its ground since highlighted in yellow with pivot point based on its 8/18/15 high plus 10 cents in the 5/11/16 mid-day report (read here).
>>> FEATURED STOCK ARTICLE : Fundamentals Strong Behind Technical Breakout - 5/11/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$19.98
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+0.48
2.46% |
$20.12
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1,622,150
112.49% of 50 DAV
50 DAV is 1,442,000
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$19.78
1.01%
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5/16/2016
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$19.24
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PP = $19.20
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MB = $20.16
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Most Recent Note - 5/24/2016 5:10:17 PM
Y - Hit another new all-time high with higher volume behind today's gain while challenging its "max buy" level. Disciplined investors avoid chasing extended stocks too far above prior highs.
>>> FEATURED STOCK ARTICLE : Rebounded Above 50-Day Average Following Strong Earnings News - 5/12/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
PATK
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NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$52.95
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+2.42
4.79% |
$53.68
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332,953
232.83% of 50 DAV
50 DAV is 143,000
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$51.42
2.98%
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5/24/2016
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$53.45
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PP = $50.68
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MB = $53.21
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Most Recent Note - 5/24/2016 5:26:31 PM
Y - Finished strong after highlighted in yellow with pivot point based on its 4/28/16 high plus 10 cents in the earlier mid-day report. Hit new all-time highs confirming a technical buy signal with today's volume-driven gain, rallying with no resistance due to overhead supply. Reported earnings +36% on +25% sales revenues for the Mar '16 quarter, and prior quarters were above the +25% minimum earnings guideline (C criteria). Prior downturn in FY '13 was a flaw noted in its annual earnings (A criteria) history. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Solid Volume-Driven Gain Into New High Territory - 5/24/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
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$27.33
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+0.61
2.28% |
$27.55
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274,223
308.12% of 50 DAV
50 DAV is 89,000
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$29.30
-6.72%
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4/19/2016
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$28.20
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PP = $28.10
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MB = $29.51
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Most Recent Note - 5/24/2016 5:11:24 PM
Y - Rebounded further above the 50 DMA line with today's volume-driven gain helping its outlook improve. Completed a new Public Offering on 5/13/16 following a gap down from its 52-week high. Members were cautioned - "Such offerings often hinder near-term price progress yet help companies to attract more institutional owners (I criteria)."
>>> FEATURED STOCK ARTICLE : Less Volume Behind Gain For Another New High - 5/10/2016 |
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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