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AFTER MARKET UPDATE - WEDNESDAY, JULY 5TH, 2023
Previous After Market Report Next After Market Report >>>
Indices NYSE Nasdaq
DOW  -129.83 34,288.64 -0.38% Volume 850,146,360 +82% Volume 5,536,301,800 +88%
NASDAQ -25.12 13,791.65 -0.18% Advancers 850 29% Advancers 1,611 36%
S&P 500 -8.77 4,446.82 -0.20% Decliners 2,035 71% Decliners 2,865 64%
Russell 2000 -23.87 1,872.91 -1.26% 52 Wk Highs 50   52 Wk Highs 67  
S&P 600 -18.41 1,205.47 -1.50% 52 Wk Lows 12   52 Wk Lows 69  

Major Indices Pulled Back With Leadership Waning

The major indices ended unanimously in the red with small losses. The volume totals reported were higher on the NYSE and on the Nasdaq exchange versus the prior session. Breadth was negative as decliners led advancers by more than a 2-1 margin on the NYSE and by more than a 3-2 margin on the Nasdaq exchange. Leadership thinned as there were 21 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 30 on the prior session. New 52-week highs still outnumbered new 52-week lows on the NYSE while new highs and lows were evenly matched on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Appropriate new buying efforts may be considered under the fact-based investment system.

Chart courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average has pulled back from its 2023 high and is up +3.4% year-to-date.

Factory orders increased 0.3% month-over-month in May following a downwardly revised 0.3% increase (from 0.4%) in April. Excluding transportation, factory orders declined 0.5% month-over-month on the heels of a 0.6% decline in April. Shipments of manufactured goods also increased 0.3% month-over-month after declining 0.6% in April. The Information technology (-0.6%) sector was a notable underperformer. The communication services (+1.2%) and utilities (+1.1%) sectors, meanwhile, rose to the top of the leaderboard. 

Treasuries settled with losses across the curve. The 2-yr note yield rose two basis points to 4.94% and the 10-yr note yield rose nine basis points to 3.95%. 


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.


Financial, Semiconductor, and Commodity-Linked Groups Fell

The Bank Index ($BKX -0.89%) and the Broker/Dealer Index ($XBD -1.37%) posted influential losses while thRetail Index ($RLX +0.19%) inched higherThe tech sector had a negative bias as the Semiconductor Index ($SOX -2.20%) fell and Networking Index ($NWX -0.23%) sputtered while the Biotech Index ($BTK +0.04%) finished flat, The Gold & Silver Index ($XAU -2,76%), sank while the Integrated Oil Index ($XOI -0.83%) edged lower and the Oil Services Index ($OSX +0.07%) was little changed.

Chart courtesy of www.stockcharts.com

PICTURED: The Integrated Oil Index ($XOI -0.83%) recently rebounded above its 50-day moving average (DMA) line and showed resilience while fighting to stay above prior lows.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  79.81 +0.05 +0.07% -4.82%
Integrated Oil $XOI  1,673.42 -14.01 -0.83% -6.37%
Semiconductor $SOX  3,622.32 -81.30 -2.20% +43.06%
Networking $NWX  852.76 -2.01 -0.23% +8.87%
Broker/Dealer $XBD  473.06 -6.58 -1.37% +5.33%
Retail $RLX  3,473.75 +4.79 +0.14% +26.13%
Gold & Silver $XAU  118.60 -3.37 -2.76% -1.87%
Bank $BKX  80.90 -0.73 -0.89% -19.78%
Biotech $BTK  5,222.06 +1.85 +0.04% -1.12%


Featured Stocks

 

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
StockCharts.com Latest Chart for GPK GPK - NYSE
Graphic Packaging Hldg
CONSUMER NON-DURABLES - Packaging and Containers  
$23.64 -0.75
-3.08%

$24.10

3,787,900
84.24% of 50 DAV
50 DAV is 4,496,600
$27.56
-14.22%
10/25/2022 $22.75 PP = $24.17
MB = $25.38
Most Recent Note - 7/5/2023 10:54:59 PM
Gapped down today slumping back toward its 200 DMA line ($23.37) and it will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line ($25.10) is needed to help its outlook improve. Its Relative Strength Rating has slumped to 56, below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Graphic Packaging Hits New High With 6th Consecutive Gain - 6/8/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for STRL STRL - NASDAQ
Sterling Infrastructure
Bldg-Heavy Construction  
$58.44 +0.24
0.41%

$59.43

543,975
184.40% of 50 DAV
50 DAV is 295,000
$58.23
0.36%
12/14/2022 $32.41 PP = $33.72
MB = $35.41
Most Recent Note - 7/5/2023 12:06:04 PM
G - On track today for a 6th consecutive gain, wedging to another new all-time high, very extended from any sound base. Mar '23 quarterly earnings were below the +25% minimum guideline (C criteria) raising fundamental concerns. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Streak of Gains Lifts Sterling Infrastructure to New Highs - 7/3/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for FIX FIX - NYSE
Comfort Systems USA
Bldg-A/C and Heating Prds  
$161.91 -2.53
-1.54%

$163.91

169,289
60.90% of 50 DAV
50 DAV is 278,000
$167.53
-3.35%
4/27/2023 $148.85 PP = $152.23
MB = $159.84
Most Recent Note - 6/27/2023 5:37:17 PM
G - Volume totals have been cooling while hovering near its all-time high. Extended from the prior base and no resistance remains due to overhead supply. Prior highs in the $152-156 area define initial support to watch above its 50 DMA line ($150.54).
>>> FEATURED STOCK ARTICLE : "Negative Reversal" Following Recent Volume-Driven Gains - 6/16/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for KOF KOF - NYSE
Coca-Cola Femsa ADR
Beverages-Non-Alcoholic  
$83.89 -0.32
-0.38%

$84.06

175,461
101.42% of 50 DAV
50 DAV is 173,000
$91.23
-8.05%
6/9/2023 $88.61 PP = $91.33
MB = $95.90
Most Recent Note - 6/27/2023 12:30:58 PM
G - Further undercutting its 50 DMA line ($86.36) with today's 4th consecutive loss raising greater concerns. A prompt rebound above the 50 DMA line is needed to help its outlook improve. The prior low ($81.63 on 5/31/23) defines the next important near-term support to watch. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Coca-Cola Femsa Posts 7th Consecutive Gain - 6/9/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for CLH CLH - NYSE
Clean Harbors
Pollution Control  
$165.02 +1.85
1.13%

$165.88

404,277
102.87% of 50 DAV
50 DAV is 393,000
$164.80
0.13%
3/10/2023 $136.89 PP = $136.74
MB = $143.58
Most Recent Note - 6/27/2023 5:36:07 PM
G - Volume totals have cooled while hovering near its all-time high, extended from any sound base. Its 50 DMA line ($146.56) and prior high define important near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base and Hovering Near High - 6/15/2023
 |  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
StockCharts.com Latest Chart for SPSC SPSC - NASDAQ
SPS Commerce
Comp Sftwr-Spec Enterprs  
$190.08 +1.03
0.54%

$190.24

156,650
86.55% of 50 DAV
50 DAV is 181,000
$192.67
-1.34%
4/24/2023 $150.01 PP = $157.56
MB = $165.44
Most Recent Note - 6/28/2023 5:13:52 PM
G - Volume was +46% above average behind today's gain while hitting another new 52-week high, getting very extended from the previously noted base. Reported Mar '23 quarterly earnings +22% on +20% versus the year-ago period, below the +25% minimum earnings guideline (C criteria) raising some fundamental concerns.
>>> FEATURED STOCK ARTICLE : Perched Near High Following Noted Volume-Driven Gains - 6/21/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for HUBB HUBB - NYSE
Hubbell
Electrical-Power/Equipmt  
$327.65 -1.34
-0.41%

$330.97

379,361
88.43% of 50 DAV
50 DAV is 429,000
$332.76
-1.54%
4/25/2023 $262.85 PP = $257.51
MB = $270.39
Most Recent Note - 6/28/2023 5:10:08 PM
G - Churning above-average volume while recently hovering near its all-time high, very extended from the prior base. Its 50 DMA line ($284) defines initial support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hubbell on Track for 11th Weekly Gain - 6/22/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for NVR NVR - NYSE
NVR
Bldg-Resident/Comml  
$6,231.03 -55.45
-0.88%

$6,302.65

22,963
88.32% of 50 DAV
50 DAV is 26,000
$6,386.62
-2.44%
4/25/2023 $5,882.18 PP = $5,978.25
MB = $6,277.16
Most Recent Note - 6/30/2023 5:37:15 PM
G - Posted a gain today with below-average volume for a new high close, perched near its all-time high. Its 50 DMA line ($5,869) defines near-term support watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : New High Close for Strong Homebuilder - 6/30/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for PHM PHM - NYSE
PulteGroup
Bldg-Resident/Comml  
$77.12 -0.17
-0.22%

$78.36

2,481,988
82.82% of 50 DAV
50 DAV is 2,997,000
$79.15
-2.56%
4/25/2023 $65.17 PP = $64.01
MB = $67.21
Most Recent Note - 7/3/2023 4:11:46 PM
G - Volume totals are cooling while consolidating near its all-time high, very extended from any sound base. Reported earnings +28% for the Mar '23 quarter versus the year-ago period. Important support to watch is defined by its 50 DMA line ($70).
>>> FEATURED STOCK ARTICLE : Negative Reversal After Hitting Another New High - 6/26/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for COKE COKE - NASDAQ
Coca-Cola Consolidated
Beverages-Non-Alcoholic  
$645.52 +6.04
0.94%

$647.00

32,369
80.92% of 50 DAV
50 DAV is 40,000
$694.20
-7.01%
5/4/2023 $646.66 PP = $656.21
MB = $689.02
Most Recent Note - 7/3/2023 4:10:16 PM
Y - Consolidating near its 50 DMA line ($640). More damaging losses would raise concerns and trigger technical sell signals. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Fell Below Pivot Point With Recent Volume-Driven Losses - 6/14/2023
 |  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
StockCharts.com Latest Chart for AMPH AMPH - NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech  
$57.70 +0.07
0.12%

$58.35

350,330
74.07% of 50 DAV
50 DAV is 473,000
$58.80
-1.87%
5/15/2023 $43.56 PP = $44.15
MB = $46.36
Most Recent Note - 6/30/2023 5:39:45 PM
G - Posted a gain today with below-average volume for a 2nd-best-ever close. Very extended from any sound base. Its 50 DMA line ($45.23) and prior highs in the $44 area define important support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hit Another New High With 4th Consecutive Volume-Driven Gain - 6/20/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for ANET ANET - NYSE
Arista Networks
Computer-Networking  
$159.68 -0.22
-0.14%

$160.24

1,544,819
41.99% of 50 DAV
50 DAV is 3,679,000
$178.36
-10.47%
5/30/2023 $176.35 PP = $171.54
MB = $180.12
Most Recent Note - 6/27/2023 5:32:56 PM
G - Rebounded above its 50 DMA line ($152.81) with below-average volume behind today's 2nd consecutive gain helping its outlook improve. Faces near-term resistance due to overhead supply up to the $178 level. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Rebounding Near Recent High With 3 Consecutive Gains - 6/12/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for PANW PANW - NASDAQ
Palo Alto Networks
Computer Sftwr-Security  
$257.88 +3.24
1.27%

$258.88

3,948,129
64.33% of 50 DAV
50 DAV is 6,137,000
$256.83
0.41%
6/5/2023 $228.35 PP = $213.73
MB = $224.42
Most Recent Note - 6/27/2023 5:29:16 PM
G - Hit another new all-time high with today's gain. Very extended from the prior high ($213) which defines initial support to watch on pullbacks. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Strength Continues for Network Security Leader - 6/27/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for LSCC LSCC - NASDAQ
Lattice Semiconductor
Elec-Semicondctor Fablss  
$93.31 -1.78
-1.87%

$95.44

1,615,751
63.96% of 50 DAV
50 DAV is 2,526,000
$97.27
-4.07%
6/13/2023 $91.73 PP = $96.92
MB = $101.77
Most Recent Note - 6/30/2023 5:41:52 PM
Y - Posted a 5th consecutive gain today backed by below-average volume and managed a best-ever close. Its 50 DMA line ($84.55) defines near-term support to watch. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Reported Mar '23 quarterly earnings +38% on +22% sales revenues versus the year-ago period, its 9th consecutive strong quarterly comparison above the +25% minimum earnings guideline (C criteria). Annual earnings history (A criteria) has been strong.
>>> FEATURED STOCK ARTICLE : Lattice Posts Volume-Driven Gains Approaching Prior High - 6/13/2023
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for XPEL XPEL - NASDAQ
XPEL
Auto/Truck-Replace Parts  
$84.02 +0.03
0.04%

$84.06

148,380
115.02% of 50 DAV
50 DAV is 129,000
$87.01
-3.44%
6/28/2023 $83.14 PP = $87.11
MB = $91.47
Most Recent Note - 6/28/2023 5:04:54 PM
Y - Color code was changed to yellow with pivot point cited based on its 8/15/23 high plus 10 cents when featured in the earlier mid-day report. Perched within striking distance of its 52-week high after an orderly 10-month base. Reported Mar '23 quarterly earnings +46% on +19% sales revenues versus the year ago period, its 3rd quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it better match the winning models of the fact-based investment system. Annual earnings growth remained strong while it went through a deep consolidation since dropped from the Featured Stocks list on 8/13/21. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : XPEL Returns to Featured Stocks List After Long Consolidation - 6/28/2023
 |  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

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.

Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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