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AFTER MARKET UPDATE - MONDAY, JUNE 17TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
+188.94 |
38,778.10 |
+0.49% |
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Volume |
833,006,322 |
-0% |
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Volume |
5,842,808,500 |
+14% |
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NASDAQ |
+168.14 |
17,857.02 |
+0.95% |
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Advancers |
2,345 |
43% |
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Advancers |
3,437 |
40% |
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S&P 500 |
+41.74 |
5,473.34 |
+0.77% |
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Decliners |
3,145 |
57% |
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Decliners |
5,103 |
60% |
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Russell 2000 |
+15.85 |
2,022.01 |
+0.79% |
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52 Wk Highs |
38 |
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52 Wk Highs |
62 |
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S&P 600 |
+11.74 |
1,284.18 |
+0.92% |
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52 Wk Lows |
94 |
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52 Wk Lows |
212 |
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Major Indices Rose With Greater L:eadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 extended its record high, climbing +0.77% while the Nasdaq Composite rose +0.95% and Dow Jones Industrial Average rose +0.49%. Volume totals reported were mixed, slightly lighter than the prior session on the NYSE yet higher on the Nasdaq exchange. Market breadth was negative as decliners led advancers by a 3-2 margin on the NYSE and by a 5-3 margin on the Nasdaq exchange. Leadership improved as there were 47 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 13 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. It was encouraging to see recent improvement in the new highs totals with the market showing some broad-based strength and resilience. Remember that any uptrend requires healthy leadership.
PICTURED: The Nasdaq Composite Index is perched at its all-time high following 5 consecutive gains.
The latest economic data was limited to the NY Fed Empire State Manufacturing Index, which rose to -6.0 in June from -15.6 in May. The rate-sensitive real estate (-0.8%) and utilities (-0.5%) sectors were laggards, pressured by a jump in yields. The 10-yr note yield closed seven basis points higher at 4.28% and the 2-yr note yield settled eight basis points higher at 4.76%.
Outsized gains in Apple (AAPL +1.97%) and Microsoft (MSFT +1.31%), two of the three stocks with a market cap above $3 trillion, provided some support to the broader market. Broadcom (AVGO +5.4%) was another top performer. Strength in the mega cap and semiconductor spaces boosted the S&P 500 information technology (+1.2%) and consumer discretionary (+1.4%) sectors to make them top gainers.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Semi, Networking, and Energy Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.78%), Bank Index ($BKX +1.12%), and the Retail Index ($RLX +0.71%) posted unanimous gains on Monday. The Semiconductor Index ($SOX +1.60%) led the tech sector while the Networking Index ($NWX +0.91%) posted a smaller gain but the Biotech Index ($BTK -0.43%) lost ground. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU -0.79%) edged lower while the Oil Services Index ($OSX +2.11%) and the Integrated Oil Index ($XOI +0.42%) both posted gains.
![]() PICTURED: The Retail Index ($RLX +0.71%) is consolidating above its 50-day moving average (DMA) line near its all-time high.
| Oil Services |
$OSX |
81.07 |
+1.68 |
+2.11% |
-3.36% |
| Integrated Oil |
$XOI |
1,968.94 |
+8.34 |
+0.43% |
+5.72% |
| Semiconductor |
$SOX |
5,688.10 |
+89.79 |
+1.60% |
+36.23% |
| Networking |
$NWX |
814.30 |
+7.34 |
+0.91% |
-2.22% |
| Broker/Dealer |
$XBD |
622.73 |
+4.84 |
+0.78% |
+11.74% |
| Retail |
$RLX |
4,461.99 |
+31.55 |
+0.71% |
+14.74% |
| Gold & Silver |
$XAU |
133.93 |
-1.08 |
-0.80% |
+6.55% |
| Bank |
$BKX |
101.43 |
+1.12 |
+1.12% |
+5.64% |
| Biotech |
$BTK |
5,170.82 |
-22.41 |
-0.43% |
-4.58% |
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Still Sputtering Below Pivot Point After Negating Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
PDD Holdings (PDD -$0.68 or -0.46% to $148.30) pulled back today with below average volume. It 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. It was last shown in this FSU section on 5/28/24 under the headline "Pulled Back Below Prior Highs Raising Concerns".
It has a highest possible Earnings Per Share Rating of 99. Quarterly comparisons through Mar '24 showed encouraging sales revenues and greatly improved earnings versus the year-ago periods with growth rate acceleration. After years of losses, it had a profitable FY '21-23 helping it better match the fundamental annual earnings (A criteria) guidelines of the fact-based investment system.
The number of top-rated funds owning its shares rose from 1,487 in Jun '23 to 1,862 in Mar '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. It has an A Timelinesss Rating and a B Sponsorship Rating.
Chart courtesy of www.stockcharts.com
 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 - NYSE
TransDigm Group
Aerospace/Defense | $1,318.91 | +24.15
1.87% | $1,328.20 | 162,446
77.73% of 50 DAV
50 DAV is 209,000 | $1,369.58
-3.70%
| 4/12/2024 | $1,224.21 | PP = $1,246.32 | | MB = $1,308.64 |  Most Recent Note - 6/17/2024 3:54:05 PM
G - Quietly consolidating above its "max buy" level. Its 50 DMA line ($1,283) defines near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Transdigm Consolidating Above 50-Day Moving Average - 6/12/2024 | 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 | $354.59 | +12.28
3.59% | $354.74 | 30,072
125.30% of 50 DAV
50 DAV is 24,000 | $378.78
-6.39%
| 2/9/2024 | $254.68 | PP = $265.09 | | MB = $278.34 | Most Recent Note - 6/17/2024 3:56:42 PM
G - Rebounding toward the prior high with higher volume behind today''s gain. Recently found prompt support near its 50 DMA line ($332). It has not formed a sound base. 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 | SEC News | Chart | Request a new note C A S I | CLS - NYSE
Celestica
Elec-Contract Mfg | $57.02 | +1.31
2.35% | $57.47 | 1,952,264
82.34% of 50 DAV
50 DAV is 2,371,000 | $61.06
-6.62%
| 5/15/2024 | $51.52 | PP = $51.22 | | MB = $53.78 | Most Recent Note - 6/17/2024 3:58:46 PM
G - Wedging higher after finding support near prior highs in the $51 area. Its 50 DMA line ($49.77) defines additional near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Steady Pullback to Below "Max Buy" Level Following Rally - 6/4/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | DECK - NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg | $1,017.49 | -6.26
-0.61% | $1,037.05 | 350,489
97.36% of 50 DAV
50 DAV is 360,000 | $1,106.89
-8.08%
| 5/24/2024 | $1,010.60 | PP = $956.27 | | MB = $1,004.08 | Most Recent Note - 6/13/2024 4:36:56 PM
G - Consolidating near its all-time high, extended from the prior base. Prior highs in the $956 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Deckers Consolidating Near High - 6/13/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | ELF - NYSE
e.l.f. Beauty
Cosmetics/Personal Care | $195.41 | +2.78
1.44% | $198.01 | 689,718
42.92% of 50 DAV
50 DAV is 1,607,000 | $221.83
-11.91%
| 5/24/2024 | $193.79 | PP = $182.73 | | MB = $191.87 | Most Recent Note - 6/17/2024 4:00:09 PM
G - Hovering near recent highs. Its 50 DMA line ($173) 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 | 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 | PDD - NASDAQ
PDD Holdings ADR
Retail-Internet | $148.30 | -0.68
-0.46% | $150.45 | 4,512,247
47.95% of 50 DAV
50 DAV is 9,410,000 | $164.69
-9.95%
| 5/24/2024 | $161.85 | PP = $153.09 | | MB = $160.74 | Most Recent Note - 6/17/2024 5:06:51 PM
Y - Pulled back today with below average. 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. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Still Sputtering Below Pivot Point After Negating Breakout - 6/17/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | CRWD - NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security | $390.43 | +5.00
1.30% | $394.64 | 4,549,308
129.72% of 50 DAV
50 DAV is 3,507,000 | $390.71
-0.07%
| 5/28/2024 | $351.47 | PP = $365.10 | | MB = $383.36 | Most Recent Note - 6/13/2024 4:35:53 PM
Y - Color code is changed to yellow after pulling back just below its "max buy" level today with near average volume following 4 consecutive volume-driven gains for new all-time highs. Its 50 DMA line ($323) defines near-term support to watch. 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.
>>> FEATURED STOCK ARTICLE : Volume-Driven Loss Triggered Technical Sell Signal - 5/30/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | NVO - NYSE
Novo Nordisk ADR
Medical-Ethical Drugs | $140.37 | -2.13
-1.49% | $142.13 | 3,098,407
83.18% of 50 DAV
50 DAV is 3,725,000 | $144.50
-2.86%
| 6/7/2024 | $143.06 | PP = $138.38 | | MB = $145.30 | Most Recent Note - 6/17/2024 3:52:17 PM
Y - Pulled back today with light volume. Recently wedged to new all-time highs with gains lacking great volume conviction. 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 | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | GVA - NYSE
Granite Construction
Bldg-Heavy Construction | $61.97 | -0.32
-0.51% | $62.46 | 187,962
43.11% of 50 DAV
50 DAV is 436,000 | $64.33
-3.67%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 | Most Recent Note - 6/12/2024 5:34:03 PM
Y - Gapped up today for a 3rd consecutive volume-driven gain. Color code was changed to yellow when highlighted on the earlier mid-day report as it was noted that a valid 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 an 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 | 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 |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
|
$1,294.76
|
-28.89
-2.18% |
$1,310.00
|
194,198
92.92% of 50 DAV
50 DAV is 209,000
|
$1,369.58
-5.46%
|
4/12/2024
|
$1,224.21
|
PP = $1,246.32
|
|
MB = $1,308.64
|
Most Recent Note - 6/12/2024 5:29:08 PM
G - Color code is changed to green after rising back above its "max buy" level. Its 50 DMA line ($1,278) defines near-term support to watch. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Transdigm Consolidating Above 50-Day Moving Average - 6/12/2024 |
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
|
$342.31
|
+5.80
1.72% |
$342.47
|
18,697
77.90% of 50 DAV
50 DAV is 24,000
|
$378.78
-9.63%
|
2/9/2024
|
$254.68
|
PP = $265.09
|
|
MB = $278.34
|
Most Recent Note - 6/12/2024 5:31:04 PM
G - Gapped up today for a solid gain with average volume, finding prompt support near its 50 DMA line ($329). It has not formed a sound base. 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 |
SEC
News |
Chart |
Request a new note
C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
|
$55.71
|
-1.06
-1.87% |
$56.58
|
1,718,292
72.47% of 50 DAV
50 DAV is 2,371,000
|
$61.06
-8.76%
|
5/15/2024
|
$51.52
|
PP = $51.22
|
|
MB = $53.78
|
Most Recent Note - 6/14/2024 12:58:08 PM
G - Pulling back today after 2 consecutive gains. Prior highs in the $51 area define initial support to watch above its 50 DMA line ($49.60).
>>> FEATURED STOCK ARTICLE : Steady Pullback to Below "Max Buy" Level Following Rally - 6/4/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
DECK
-
NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg
|
$1,023.75
|
-6.41
-0.62% |
$1,032.22
|
201,447
55.96% of 50 DAV
50 DAV is 360,000
|
$1,106.89
-7.51%
|
5/24/2024
|
$1,010.60
|
PP = $956.27
|
|
MB = $1,004.08
|
Most Recent Note - 6/13/2024 4:36:56 PM
G - Consolidating near its all-time high, extended from the prior base. Prior highs in the $956 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Deckers Consolidating Near High - 6/13/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
|
$192.63
|
-7.81
-3.90% |
$200.57
|
815,721
50.76% of 50 DAV
50 DAV is 1,607,000
|
$221.83
-13.16%
|
5/24/2024
|
$193.79
|
PP = $182.73
|
|
MB = $191.87
|
Most Recent Note - 6/14/2024 12:56:56 PM
G - Pulling back today after 4 consecutive gains rebounding above its "max buy" level near prior highs. Its 50 DMA line ($172.44) 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 |
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 |
PDD
-
NASDAQ
PDD Holdings ADR
Retail-Internet
|
$148.98
|
-2.09
-1.38% |
$150.53
|
8,592,500
91.31% of 50 DAV
50 DAV is 9,410,000
|
$164.69
-9.54%
|
5/24/2024
|
$161.85
|
PP = $153.09
|
|
MB = $160.74
|
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 |
Chart |
Request a new note
C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
|
$385.44
|
+2.63
0.69% |
$388.35
|
3,421,027
97.55% of 50 DAV
50 DAV is 3,507,000
|
$390.71
-1.35%
|
5/28/2024
|
$351.47
|
PP = $365.10
|
|
MB = $383.36
|
Most Recent Note - 6/13/2024 4:35:53 PM
Y - Color code is changed to yellow after pulling back just below its "max buy" level today with near average volume following 4 consecutive volume-driven gains for new all-time highs. Its 50 DMA line ($323) defines near-term support to watch. 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.
>>> FEATURED STOCK ARTICLE : Volume-Driven Loss Triggered Technical Sell Signal - 5/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$142.50
|
+0.01
0.01% |
$143.18
|
2,838,420
76.20% of 50 DAV
50 DAV is 3,725,000
|
$144.50
-1.38%
|
6/7/2024
|
$143.06
|
PP = $138.38
|
|
MB = $145.30
|
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 |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
|
$62.29
|
-0.31
-0.50% |
$62.60
|
519,224
119.09% of 50 DAV
50 DAV is 436,000
|
$64.33
-3.17%
|
6/11/2024
|
$59.76
|
PP = $64.33
|
|
MB = $67.55
|
Most Recent Note - 6/12/2024 5:34:03 PM
Y - Gapped up today for a 3rd consecutive volume-driven gain. Color code was changed to yellow when highlighted on the earlier mid-day report as it was noted that a valid 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 an 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 |
SEC
News |
Chart |
Request a new note
C
A
S
I |
|
|
|
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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