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AFTER MARKET UPDATE - TUESDAY, JUNE 11TH, 2024
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DOW |
-120.62 |
38,747.42 |
-0.31% |
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Volume |
863,386,620 |
-3% |
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Volume |
5,051,634,400 |
-4% |
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NASDAQ |
+151.02 |
17,343.55 |
+0.88% |
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Advancers |
1,023 |
37% |
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Advancers |
1,967 |
46% |
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S&P 500 |
+14.53 |
5,375.32 |
+0.27% |
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Decliners |
1,737 |
63% |
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Decliners |
2,286 |
54% |
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Russell 2000 |
-7.27 |
2,024.35 |
-0.36% |
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52 Wk Highs |
55 |
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52 Wk Highs |
91 |
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S&P 600 |
-5.41 |
1,285.01 |
-0.42% |
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52 Wk Lows |
60 |
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52 Wk Lows |
140 |
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Nasdaq Composite and S&P 500 Indexes Hit New Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.3%) and Nasdaq Composite (+0.9%) climbed further into record territory, meanwhile, the Dow Jones Industrial Average fell -0.3% and the Russell 2000 closed -0.4% lower. Volume totals reported were lighter than the prior session on the NYSE and on the Nasdaq exchange. Market breadth was slightly negative as decliners led advancers by about a 3-2 margin on the NYSE and by a narrower margin on at the Nasdaq. There were 21 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus the total of 27 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria) that recently endured some pressure. Disciplined investors will watch for encouraging new highs totals to see the market showing some broad-based strength and resiience. Any uptrend requires healthy leadership.
PICTURED: The S&P 500 Index hit a new all-time high.
Only two S&P 500 sectors closed with gains, information technology (+1.7%), and communication services (+0.5%). The financial sector (-1.2%) saw the largest decline. A big jump in Apple (AAPL +7.29%) lifted it to a fresh record high. Paramount Global (PARA -7.89%) settled sharply lower after news that National Amusements has failed to reach deal with Skydance.
There was strong interest in a fresh $39 billion 10-yr note sale. The 10-yr note yield fell seven basis points lower at 4.40% and the 2-yr note yield fell five basis points to 4.83%.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financials Fell as Retail and Tech Indices Inched Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -1.28%) and the Bank Index ($BKX -1.96%) both ended solidly lower while the Retail Index ($RLX +0.26%) eked out a small gain. The tech sector had a slightly positive bias as the Networking Index ($NWX +0.60%) outpaced the Biotech Index ($BTK +0.19%) while the Semiconductor Index ($SOX +0.06%) finished flat. The Gold & Silver Index ($XAU -1.06%) slumped as the Oil Services Index ($OSX -0.10%) and Integrated Oil Index ($XOI -0.23%) both inched lower.
![]() PICTURED: The Oil Services Index ($OSX -0.10%) ended slightly lower, consolidating below its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
82.95 |
-0.08 |
-0.10% |
-1.10% |
| Integrated Oil |
$XOI |
2,020.41 |
-4.62 |
-0.23% |
+8.48% |
| Semiconductor |
$SOX |
5,365.38 |
+2.98 |
+0.06% |
+28.50% |
| Networking |
$NWX |
808.62 |
+4.85 |
+0.60% |
-2.90% |
| Broker/Dealer |
$XBD |
621.72 |
-8.08 |
-1.28% |
+11.56% |
| Retail |
$RLX |
4,461.10 |
+11.66 |
+0.26% |
+14.72% |
| Gold & Silver |
$XAU |
136.71 |
-1.46 |
-1.06% |
+8.77% |
| Bank |
$BKX |
100.09 |
-2.00 |
-1.96% |
+4.24% |
| Biotech |
$BTK |
5,253.49 |
+9.87 |
+0.19% |
-3.05% |
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Granite Construction Found Support at 10-Week Moving Average
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Granite Construction (GVA +$0.36 or +0.61% to $59.85) was highlighted in yellow in the earlier mid-day report. It was noted that a vaild secondary buy point exists up to +5% above the recent high after finding support at its 10 WMA line following a prior breakout.
Granite Construction has a 93 Earnings Per Share Rating. It reported solid earnings increases backed by accelerarting sales revenues growth in the Jun, Sep, Dec '23, and Mar '24 quarters versus the year ago periods. Annual earnings growth has been strong and steady.
It hails from the Bldg-Heavy Construction group which is currently ranked 10th on the 197 Industry Groups list (L criteria). The number of top-rated funds owning its shares rose from 401 in Jun '23 to 414 in Mar '24.
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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
Aerospace/Defense
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$1,293.88
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-12.11
-0.93% |
$1,304.35
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258,437
124.85% of 50 DAV
50 DAV is 207,000
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$1,369.58
-5.53%
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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 - 6/11/2024 5:30:22 PM
Y - Color code is changed to yellow after pulling back below its "max buy" level with today's 4th consecutie loss. Its 50 DMA line ($1,275) defines near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Aerospace/Defense Firm Hitting Another All-Time High - 5/21/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$326.70
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-1.96
-0.60% |
$328.37
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19,616
78.46% of 50 DAV
50 DAV is 25,000
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$378.78
-13.75%
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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 - 6/11/2024 5:34:08 PM
G - Suffered another loss today and closed below its 50 DMA line ($329) raising concerns and triggering a technical sell signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Streak of Losses Testing 50-Day Moving Average Line - 6/6/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$53.23
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-1.31
-2.40% |
$54.37
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1,180,953
49.19% of 50 DAV
50 DAV is 2,401,000
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$61.06
-12.82%
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5/15/2024
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$51.52
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PP = $51.22
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MB = $53.78
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Most Recent Note - 6/11/2024 5:38:28 PM
G - Pulled back today with lighter than average volume. Prior highs in the $51 area define initial support to watch above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Steady Pullback to Below "Max Buy" Level Following Rally - 6/4/2024 |
View all notes |
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Company Profile |
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News |
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C
A
S
I |
DECK
-
NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg
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$1,042.33
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-12.62
-1.20% |
$1,053.43
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241,621
66.93% of 50 DAV
50 DAV is 361,000
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$1,106.89
-5.83%
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5/24/2024
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$1,010.60
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PP = $956.27
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MB = $1,004.08
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Most Recent Note - 6/11/2024 5:28:55 PM
G - Volume totals have been cooling while stubbornly holding its ground near its all-time high. Prior highs in the $956 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Big "Breakaway Gap" for Deckers Outdoor - 5/24/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$189.58
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+7.10
3.89% |
$191.00
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1,590,470
93.17% of 50 DAV
50 DAV is 1,707,000
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$221.83
-14.54%
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5/24/2024
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$193.79
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PP = $182.73
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MB = $191.87
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Most Recent Note - 6/11/2024 5:37:11 PM
Y - Posted a solid gain today with average volume, rebounding back above its pivot point. Its 50 DMA line ($170.85) defines important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Down on Lighter Volume After Breakout From "Double Bottom" Base - 5/29/2024 |
View all notes |
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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 |
PDD
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NASDAQ
PDD Holdings ADR
Retail-Internet
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$146.93
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-1.55
-1.04% |
$149.55
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8,184,610
88.89% of 50 DAV
50 DAV is 9,208,000
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$164.69
-10.78%
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5/24/2024
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$161.85
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PP = $153.09
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MB = $160.74
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Most Recent Note - 6/11/2024 5:42:50 PM
Y - Pulled back today with near average volume following 3 gains with below average volume. Raised concerns recently as it negated the breakout after clearing a 20-week base. Disciplined investors avoid big losses by selling any stock that falls more than 7-8% below their purchase price.
>>> FEATURED STOCK ARTICLE : Pulled Back Below Prior Highs Raising Concerns - 5/28/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
|
$384.63
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+10.06
2.69% |
$385.00
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6,989,765
213.43% of 50 DAV
50 DAV is 3,275,000
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$384.98
-0.09%
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5/28/2024
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$351.47
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PP = $365.10
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MB = $383.36
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Most Recent Note - 6/11/2024 12:06:00 PM
Y - Hit a new all-time high with a big "breakaway gap" and volume-driven gain on the prior session triggering a technical buy signal. Rebounded above its 50 DMA line ($320) last week. Bullish action came after it reported Apr '24 quarterly earnings +63% on +33% sales revenues versus the year-ago period, continuing its strong earnings track record. Recent lows define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume-Driven Loss Triggered Technical Sell Signal - 5/30/2024 |
View all notes |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$141.79
|
-1.84
-1.28% |
$142.94
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4,388,909
116.79% of 50 DAV
50 DAV is 3,758,000
|
$143.94
-1.49%
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6/7/2024
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$143.06
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PP = $138.38
|
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MB = $145.30
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Most Recent Note - 6/11/2024 12:20:46 PM
Y - Pausing today after 8 consecutive gains while wedging to new all-time highs. Color code was changed to yellow with pivot point cited based on its 3/07/24 high. To clinch a proper technical buy signal gains above the pivot point must be backed by at least +40% above-average volume. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Wedging Into New High Ground - 6/7/2024 |
View all notes |
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News |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
|
$59.85
|
+0.36
0.61% |
$60.08
|
879,631
212.99% of 50 DAV
50 DAV is 413,000
|
$64.33
-6.96%
|
6/11/2024
|
$59.76
|
PP = $64.33
|
|
MB = $67.55
|
Most Recent Note - 6/11/2024 5:27:30 PM
Y - Posted a 2nd consecutive volume-driven gain today. Color code was changed to yellow when highlighted oin the earlier mid-day report as it was noted that a vaild secondary buy point exists up to +5% above the recent high after finding support at its 10 WMA line following a prior breakout. Reported improved earnings in the Jun, Sep, Dec '23, and Mar '24 quarters versus the year ago periods. Annual earnings growth has been strong and steady. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Granite Construction Found Support at 10-Week Moving Average - 6/11/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
Chart |
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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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