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AFTER MARKET UPDATE - MONDAY, JUNE 29TH, 2015
Previous After Market Report Next After Market Report >>>
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DOW |
-350.33 |
17,596.35 |
-1.95% |
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Volume |
852,599,390 |
-53% |
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Volume |
1,852,184,550 |
-28% |
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NASDAQ |
-122.04 |
4,958.47 |
-2.40% |
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Advancers |
288 |
9% |
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Advancers |
371 |
12% |
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S&P 500 |
-43.85 |
2,057.64 |
-2.09% |
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Decliners |
2,880 |
90% |
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Decliners |
2,709 |
87% |
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Russell 2000 |
-33.04 |
1,246.75 |
-2.58% |
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52 Wk Highs |
23 |
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52 Wk Highs |
52 |
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S&P 600 |
-17.27 |
717.17 |
-2.35% |
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52 Wk Lows |
330 |
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52 Wk Lows |
140 |
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Damaging Losses Earn Label of a Market Correction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks sold off sharply on Monday. The Dow slid 349 points to 17596. The S&P 500 tumbled 43 points to 2057. The NASDAQ lost 122 points to 4958. The volume totals were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was solidly negative as decliners led advancers by a 10-1 margin on the NYSE and by 7-1 on the Nasdaq exchange. Leadership waned as there were 20 high-ranked companies from the Leaders List that made new 52-week highs and appeared on the BreakOuts Page, down from the prior session total of 77 stocks. New 52-week lows totals expanded and solidly outnumbered new 52-week highs on the Nasdaq exchange and on the NYSE. There were losses for all 16 high-ranked companies currently on the Featured Stocks Page, a more negative bias than the broader market.
Monday's damaging action prompts greater caution! Technical weakness in the major averages (M criteria) earned the label of a "correction" as the Nasdaq Composite Index violated its 50-day moving average (DMA) line, joining the Dow and S&P 500 Index, both of which already had recently slumped below their respective 50 DMA lines.
Investors should closely watch individual issues and be ready on a case-by-case basis to sell any stocks triggering technical sell signals. This is precisely how the fact-based investment system encourages investors to reduce exposure during uncooperative markets. Keep a watch list of the strongest stocks meeting all of the key fundamental and technical criteria while waiting for the market to eventually produce a new confirmed rally.
PICTURED: The S&P 500 Index sank below its May-June lows and nearly tested support at its 200-day moving average (DMA) line.
The major averages retreated as uncertainty around Greece intensified. The
country imposed strict capital controls and closed banks until after a July 5th
referendum on proposed austerity measures. The Euro Stoxx 600 finished 4.2%
lower on the news, the biggest one-day decline on the index since 2011. On the
domestic front, a release showed pending home sales for May were in line with
expectations.
All ten sectors in the S&P 500 finished in negative territory. Materials
and financials were the worst performers on the session. Dow Chemical (DOW -3.57%) paced materials while JP Morgan Chase & Co (JPM -2.5%) headlined the
financial losses. In corporate news, shares of Tegna (TGNA +5.05%) formerly known as Gannett (GCI -5.17%) after the company spun off its publishing division.
Assurant (AIZ -2.57%) slumped and MBIA (MBIA -23.44%) fell hard on reports that
Puerto Rico will not be able to fulfill its debt obligations.
The risk-off trade caused by global uncertainty provided strength for U.S.
Treasuries. The benchmark 10-year note closed up a full point and 9/32 to yield
2.32%.
Commodities were mixed. WTI crude retreated 2.5% to $58.16/barrel. COMEX gold
gained 0.5% to $1179.00/ounce. In FOREX, the dollar index lost 0.5%. The Featured Stocks Page shows the most current notes with headline links which direct members into the more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports published.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Retail, Tech and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -3.46%) and Bank Index ($BKX -2.50%) both suffered losses, and weakness from the Retail Index ($RLX -2.31%) also created a drag on the major averages. The tech sector saw unanimous losses for the Biotechnology Index ($BTK -3.02%), Semiconductor Index ($SOX -2.91%), and the Networking Index ($NWX -2.18%). The Oil Services Index ($OSX -1.76%) and the Integrated Oil Index ($XOI -2.35%) both fell and the Gold & Silver Index ($XAU -1.19%) also slumped, rounding out the widely negative session.
Charts courtesy www.stockcharts.com
PICTURED: The Biotechnology Index ($BTK -3.02%) fell to its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
198.78 |
-3.56 |
-1.76% |
-5.73% |
| Integrated Oil |
$XOI |
1,295.87 |
-31.19 |
-2.35% |
-3.88% |
| Semiconductor |
$SOX |
678.07 |
-20.29 |
-2.91% |
-1.28% |
| Networking |
$NWX |
375.52 |
-8.37 |
-2.18% |
+4.91% |
| Broker/Dealer |
$XBD |
194.68 |
-6.98 |
-3.46% |
+5.44% |
| Retail |
$RLX |
1,130.30 |
-26.77 |
-2.31% |
+9.45% |
| Gold & Silver |
$XAU |
63.91 |
-0.77 |
-1.19% |
-7.08% |
| Bank |
$BKX |
76.82 |
-1.97 |
-2.50% |
+3.45% |
| Biotech |
$BTK |
4,085.74 |
-127.14 |
-3.02% |
+18.80% |
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Did Not Trigger a New Technical Buy Signal
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Jones Lang Lasalle Inc (JLL -$5.07 or -2.92% to $168.85) slumped to a close near its 50-day moving average (DMA) line today while broader market weakness (M criteria) raised concerns. Prior lows ($166.68 on 6/09/15) define the next important near-term support to watch where violations would raise greater concerns and trigger a technical sell signal.
After it last appeared in this FSU section on 6/04/15 with annotated graphs under the headline, "Forming New Base and No Resistance Remains", disciplined investors waited and did not see the volume-driven gains for new highs that it needed to trigger a new (or add-on) technical buy signal. The new pivot point was cited based on its 4/28/15 high after building a short flat base. Very little resistance remains due to overhead supply, however, it has made limited headway since highlighted in yellow in the 2/03/15 mid-day report (read here) and noted - "Has the look of a valid Secondary Buy point up to +5% above prior highs."
Earnings rose +46%, 55%, +29%, and +147% in the Jun, Sep, Dec '14 and Mar '15 quarterly comparisons versus the year ago periods, respectively, above the +25% minimum earnings guideline (C criteria). The number of top-rated funds owning its shares rose from 513 in Mar '14 to 680 in Mar '15, which is a reassuring sign concerning the I criteria. Its small supply (S criteria) of only 44.4 million shares in the public float 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 |
GSBC
-
NASDAQ
Great Southern Bancorp
BANKING - Savings and Loans
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$41.79
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-0.72
-1.69% |
$42.51
|
27,688
89.32% of 50 DAV
50 DAV is 31,000
|
$42.95
-2.70%
|
4/27/2015
|
$40.94
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PP = $40.54
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MB = $42.57
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Most Recent Note - 6/29/2015 6:32:20 PM
Y - Pulling back near prior highs in the $41 area after wedging to new highs with gains last week lacking the great volume conviction indicative of serious institutional buying demand. Recent lows ($38.00 on 5/06/15) define the next important support where a violation would trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Still Finding Support at 50-Day Moving Average - 6/9/2015 |
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C
A
S
I |
BOFI
-
NASDAQ
B O F I Holding Inc
BANKING - Savings andamp; Loans
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$105.74
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-0.73
-0.69% |
$108.38
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288,650
178.18% of 50 DAV
50 DAV is 162,000
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$107.10
-1.27%
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6/10/2015
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$101.47
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PP = $97.78
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MB = $102.67
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Most Recent Note - 6/29/2015 6:24:48 PM
G - There was a "negative reversal" today after touching another new 52-week high following a streak of 7 consecutive gains. Disciplined investors avoid chasing extended stocks. Prior highs near $97 define important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Small Saving & Loan Shows More Signs of Accumulation - 6/10/2015 |
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C
A
S
I |
EPAM
-
NYSE
Epam Systems Inc
COMPUTER SOFTWARE and SERVICES - Information Technology Service
|
$69.58
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-2.51
-3.48% |
$71.50
|
448,285
106.73% of 50 DAV
50 DAV is 420,000
|
$74.49
-6.59%
|
5/18/2015
|
$67.42
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PP = $70.59
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MB = $74.12
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Most Recent Note - 6/29/2015 6:15:07 PM
Y - Fell today near prior highs in the $70 area. Subsequent damaging losses leading to a 50 DMA line violation would raise greater concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Consolidating After Breakout - 6/5/2015 |
View all notes |
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C
A
S
I |
ILMN
-
NASDAQ
Illumina Inc
DRUGS - Biotechnology
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$213.98
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-4.08
-1.87% |
$218.60
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1,568,044
116.07% of 50 DAV
50 DAV is 1,351,000
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$223.08
-4.08%
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6/8/2015
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$209.97
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PP = $213.43
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MB = $224.10
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Most Recent Note - 6/29/2015 6:27:16 PM
Y - Pulled back today for a 4th consecutive loss yet remains perched near its 52-week new high. Highlighted in yellow in the 6/08/15 mid-day report (read here
>>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of All-Time Highs - 6/8/2015 |
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C
A
S
I |
VRX
-
NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other
|
$220.31
|
-8.52
-3.72% |
$227.33
|
1,770,488
99.75% of 50 DAV
50 DAV is 1,775,000
|
$246.01
-10.45%
|
1/5/2015
|
$144.84
|
PP = $149.90
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MB = $157.40
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Most Recent Note - 6/26/2015 12:53:45 PM
Y - Its brief consolidation above its 50 DMA line ($225.65) may be a riskier "late stage" base currently being formed. A subsequent violation of the 50 DMA line would trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Latest Consolidation is Not a Sufficient Length Bade - 6/16/2015 |
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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 |
AVGO
-
NASDAQ
Avago Technologies Ltd
ELECTRONICS - Semiconductor - Broad Line
|
$132.01
|
-3.14
-2.32% |
$135.21
|
3,475,613
98.18% of 50 DAV
50 DAV is 3,540,000
|
$150.50
-12.29%
|
5/28/2015
|
$141.06
|
PP = $136.38
|
|
MB = $143.20
|
Most Recent Note - 6/26/2015 3:58:01 PM
Y - Pulling back with higher volume behind today's 4th consecutive loss. Slumping near previously noted support at prior highs in the $136 area. Damaging losses on higher volume would raise concerns if leading to a close below its old high close ($134.44 on 3/23/15).
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling During Consolidation After Breakout - 6/18/2015 |
View all notes |
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C
A
S
I |
NXPI
-
NASDAQ
Nxp Semiconductors N V
ELECTRONICS - Semiconductor - Broad Line
|
$97.50
|
-3.02
-3.00% |
$99.95
|
3,168,645
110.83% of 50 DAV
50 DAV is 2,859,000
|
$114.00
-14.47%
|
4/15/2015
|
$100.75
|
PP = $108.60
|
|
MB = $114.03
|
Most Recent Note - 6/29/2015 6:19:51 PM
G - Slumped further below its 50 DMA line with slightly higher volume behind today's 7th consecutive loss. A prompt rebound above the 50 DMA line is needed to help its outlook improve.
>>> FEATURED STOCK ARTICLE : Consolidating Near 50-day Average and Just Above Prior Lows - 6/23/2015 |
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C
A
S
I |
SWKS
-
NASDAQ
Skyworks Solutions Inc
ELECTRONICS - Semiconductor - Integrated Cir
|
$102.04
|
-4.87
-4.55% |
$105.80
|
6,042,826
183.62% of 50 DAV
50 DAV is 3,291,000
|
$112.88
-9.61%
|
5/1/2015
|
$97.51
|
PP = $102.87
|
|
MB = $108.01
|
Most Recent Note - 6/29/2015 1:58:37 PM
Y - Pulling back near its 50 DMA line ($102.23) with today's loss on higher volume. The recent low ($98.07 on 6/09/15) defines the next important support where damaging violations may trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Found Support After Wedging From Late Stage Base - 6/11/2015 |
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C
A
S
I |
AMBA
-
NASDAQ
Ambarella Inc
ELECTRONICS - Semiconductor - Specialized
|
$100.81
|
-0.76
-0.75% |
$103.70
|
3,719,096
109.35% of 50 DAV
50 DAV is 3,401,000
|
$128.06
-21.28%
|
5/1/2015
|
$75.99
|
PP = $77.49
|
|
MB = $81.36
|
Most Recent Note - 6/26/2015 5:56:14 PM
G - Endured distributional pressure today and ended near the session low. May go on to produce more climatic gains, however, its large loss on 6/22/15 with heavy volume was noted as a technical sell signal. See the latest FSU analysis for more details and annotated graphs.
>>> FEATURED STOCK ARTICLE : Holding Ground After Big Pullback on Heavy Volume Triggered Technical Sell Signal - 6/25/2015 |
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C
A
S
I |
ACHC
-
NASDAQ
Acadia Healthcare Inc
HEALTH SERVICES - Specialized Health Services
|
$75.50
|
-0.36
-0.47% |
$76.93
|
799,644
102.91% of 50 DAV
50 DAV is 777,000
|
$78.51
-3.84%
|
5/27/2015
|
$73.90
|
PP = $74.19
|
|
MB = $77.90
|
Most Recent Note - 6/26/2015 5:54:16 PM
Y - Down today with heavy volume, still consolidating above prior highs defining initial support in the $74-75 area. The 50 DMA line defines the next support level to watch. A volume-driven gain on 6/19/15 triggered a technical buy signal.
>>> FEATURED STOCK ARTICLE : Signs of Demand With Volume-Driven Gain for New Highs - 6/19/2015 |
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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 |
APOG
-
NASDAQ
Apogee Enterprises
MATERIALS and CONSTRUCTION - General Building Materials
|
$51.19
|
-1.83
-3.45% |
$52.90
|
585,494
219.29% of 50 DAV
50 DAV is 267,000
|
$61.05
-16.15%
|
4/9/2015
|
$49.58
|
PP = $48.13
|
|
MB = $50.54
|
Most Recent Note - 6/29/2015 6:22:26 PM
G - Slumped well below its 50 DMA line raising concerns with above average volume behind today's 4th consecutive loss. Only a prompt rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched at High - 6/12/2015 |
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C
A
S
I |
JLL
-
NYSE
Jones Lang Lasalle Inc
REAL ESTATE - Property Management/Developmen
|
$168.85
|
-5.07
-2.92% |
$173.95
|
306,034
85.96% of 50 DAV
50 DAV is 356,000
|
$174.83
-3.42%
|
6/4/2015
|
$172.34
|
PP = $174.93
|
|
MB = $183.68
|
Most Recent Note - 6/29/2015 6:30:22 PM
Y - Broader market weakness hurt the overall market outlook (M criteria) today as it fell near its 50 DMA line which recently acted as support. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Did Not Trigger a New Technical Buy Signal - 6/29/2015 |
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C
A
S
I |
ULTA
-
NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
|
$153.68
|
-4.30
-2.72% |
$156.95
|
634,623
84.73% of 50 DAV
50 DAV is 749,000
|
$159.85
-3.86%
|
5/29/2015
|
$155.03
|
PP = $159.07
|
|
MB = $167.02
|
Most Recent Note - 6/26/2015 3:44:19 PM
Y - Found support while still consolidating above its 50 DMA line following a "negative reversal" on 5/29/15. A subsequent volume-driven gain and close above its pivot point may trigger a proper technical buy signal.
>>> FEATURED STOCK ARTICLE : Still Consolidating Above 50-Day Moving Average Line - 6/22/2015 |
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C
A
S
I |
LXFT
-
NYSE
Luxoft Holding Inc Cl A
Comp Sftwr-Spec Enterprs
|
$57.27
|
-2.33
-3.91% |
$58.25
|
278,064
119.86% of 50 DAV
50 DAV is 232,000
|
$60.33
-5.07%
|
5/26/2015
|
$51.90
|
PP = $57.40
|
|
MB = $60.27
|
Most Recent Note - 6/29/2015 6:18:06 PM
Y - It gapped down today and closed the session just below its pivot point raising concerns. Its 50 DMA line defines important near-term support.
>>> FEATURED STOCK ARTICLE : Quietly Consolidating Near Highs With No Overhead Supply - 6/17/2015 |
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C
A
S
I |
PANW
-
NYSE
Palo Alto Networks
Computer Sftwr-Security
|
$171.85
|
-3.41
-1.95% |
$174.69
|
1,801,290
129.22% of 50 DAV
50 DAV is 1,394,000
|
$185.00
-7.11%
|
3/27/2015
|
$146.44
|
PP = $149.45
|
|
MB = $156.92
|
Most Recent Note - 6/26/2015 5:50:16 PM
G - Loss on 2 times average volume indicated distributional pressure behind today's 5th consecutive loss. Extended from any sound base. Its 50 DMA line ($163.04) defines support where a violation would trigger a technical sell signal. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Higher Volume Loss a Sign of Distributional Pressure - 6/26/2015 |
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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 |
CMCM
-
NYSE
Cheetah Mobile Cl A Ads
COMPUTER SOFTWARE and SERVICES - Security Software and Services
|
$28.00
|
-3.01
-9.71% |
$29.49
|
3,042,392
211.87% of 50 DAV
50 DAV is 1,436,000
|
$36.63
-23.56%
|
6/24/2015
|
$34.37
|
PP = $36.73
|
|
MB = $38.57
|
Most Recent Note - 6/29/2015 6:13:07 PM
G - Violated its 50 DMA line and prior highs in the $30 area today with a 2nd consecutive volume-driven loss and its color code is changed to green. Disciplined investors waited and did not see the volume-driven gains for new highs that it needed to trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Computer Security Firm Building on a Flat Base - 6/24/2015 |
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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
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