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AFTER MARKET UPDATE - TUESDAY, AUGUST 2ND, 2016
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DOW |
-90.74 |
18,313.77 |
-0.49% |
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Volume |
916,594,080 |
+10% |
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Volume |
1,982,943,190 |
+16% |
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NASDAQ |
-46.47 |
5,137.73 |
-0.90% |
|
Advancers |
690 |
23% |
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Advancers |
721 |
25% |
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S&P 500 |
-13.81 |
2,157.03 |
-0.64% |
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Decliners |
2,318 |
77% |
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Decliners |
2,152 |
75% |
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Russell 2000 |
-16.78 |
1,202.35 |
-1.38% |
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52 Wk Highs |
96 |
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52 Wk Highs |
67 |
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S&P 600 |
-10.78 |
732.50 |
-1.45% |
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52 Wk Lows |
20 |
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52 Wk Lows |
44 |
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Major Averages Fell With Higher Volume Indicating Distribution
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished firmly lower on Tuesday. The Dow was down 90 points to 18313. The S&P 500 lost 13 points to 2157 and the Nasdaq Composite fell 46 points to 5137. The benchmark S&P 500 Index, the S&P 400 Mid Cap, and the S&P 600 Small Cap Index each hit new record highs on Friday. Big gains for the major indices were noted in prior commentaries and that bullish action signaled a new "confirmed uptrend" for the market (M criteria). Behind the losses on Tuesday the volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, a sign that institutional selling pressure was increasing. Decliners led advancers by more than a 3-1 margin on the NYSE and 3-1 on the Nasdaq exchange. Leadership contracted as there were 22 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 60 on the prior session. New 52-week highs still outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.
PICTURED: The Nasdaq 100 Index pulled back after reaching a new record high on the prior session.
The Dow extended its losing streak to seven days as crude declined and investors appeared cautious amid renewed global economic uncertainty. On the data front, personal income increased 0.2% while personal spending rose 0.4%. The PCE deflator, which is the Fed’s preferred proxy for inflation, ticked up 0.1% in June. In M&A news, Biogen (BIIB +9.37%) surged amid takeover speculation. Nine of 10 sectors in the S&P 500 finished lower on the session. Consumer Discretionary shares were the worst performers with Macy’s (M -7.25%) and Kohl’s (KSS -7.95%) both fell. Royal Caribbean (RCL -6.28%) shares sank as the cruise ship operator reduced its yearly earnings guidance. Pfizer (PFE -2.47%) fell after the drug maker’s profit tumbled 23% in the second-quarter. CVS Health (CVS +4.89%) rose as the company’s earnings topped consensus forecasts. Shares of AmerisourceBergen (ABC +4.55%) rose after the drug distributor bested estimates on the top and bottom line. Treasuries finished mostly lower with the benchmark 10-year note down 4/32 to yield 1.53%. In commodities, NYMEX WTI crude lost 1.3% to $39.55/barrel. COMEX gold gained 1% to $1364.20/ounce. In FOREX, the dollar retreated 1.5% against the yen. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups Rose Amid Broader Group Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.42%), Broker/Dealer Index ($XBD -2.04%) and the Bank Index ($BKX -0.82%) collectively weighed on the major averages on Tuesday. The Biotechnology Index ($BTK -0.71%), Networking Index ($NWX -1.05%) and the Semiconductor Index ($SOX -1.60%) ended unanimously lower. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +1.12%) and the Integrated Oil Index ($XOI +0.60%) rose while the Oil Services Index ($OSX +0.03%) finished flat. Charts courtesy www.stockcharts.com
PICTURED: The Integrated Oil Index ($XOI +0.60%) is sputtering below its 50-day and 200-day moving average (DMA) lines near its prior lows.
| Oil Services |
$OSX |
155.88 |
+0.05 |
+0.03% |
-1.17% |
| Integrated Oil |
$XOI |
1,087.18 |
+6.51 |
+0.60% |
+1.35% |
| Semiconductor |
$SOX |
755.73 |
-12.29 |
-1.60% |
+13.90% |
| Networking |
$NWX |
376.09 |
-3.99 |
-1.05% |
+0.04% |
| Broker/Dealer |
$XBD |
158.73 |
-3.31 |
-2.04% |
-10.87% |
| Retail |
$RLX |
1,354.08 |
-19.54 |
-1.42% |
+5.50% |
| Gold & Silver |
$XAU |
112.86 |
+1.25 |
+1.12% |
+149.14% |
| Bank |
$BKX |
66.90 |
-0.55 |
-0.82% |
-8.46% |
| Biotech |
$BTK |
3,446.61 |
-24.57 |
-0.71% |
-9.63% |
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Seriously Applying the Fact-Based System Now
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Asset Management Services Using the Winning Fact-Based Investment System - Inquire Now! You can have professional help in limiting your losses and maximizing your gains in all market environments. For help with how your portfolio is managed in 2016 and beyond click here and indicate "Find a Broker". *Accounts over $250,000 please. **Serious inquires only, please. |
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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 Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
|
$277.15
|
-1.87
-0.67% |
$279.70
|
301,261
40.66% of 50 DAV
50 DAV is 741,000
|
$280.28
-1.12%
|
5/11/2016
|
$248.33
|
PP = $245.00
|
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MB = $257.25
|
Most Recent Note - 8/1/2016 6:04:02 PM
G - Volume was below average while recently wedging into new all-time high territory. Its 50 DMA line ($264.91) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gains Lack Great Volume While Wedging to New Highs - 7/27/2016 |
View all notes |
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News |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$13.90
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-0.31
-2.18% |
$14.06
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58,547
64.34% of 50 DAV
50 DAV is 91,000
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$16.77
-17.11%
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7/26/2016
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$15.79
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PP = $15.74
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MB = $16.53
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Most Recent Note - 8/2/2016 5:45:41 PM
G - Testing support near its 50 DMA line ($13.95). Considerable loss with higher volume raised concerns and its color code was changed to green while slumping back into the prior base. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain for New Highs Clinched Technical Buy Signal - 7/26/2016 |
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Set NEW NOTE alert |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$200.34
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-2.37
-1.17% |
$202.56
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737,732
56.36% of 50 DAV
50 DAV is 1,309,000
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$210.27
-4.72%
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6/29/2016
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$182.42
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PP = $186.55
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MB = $195.88
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Most Recent Note - 8/2/2016 5:47:50 PM
G - Still consolidating above its "max buy" level with volume totals below average behind 4 consecutive losses. Disciplined investors avoid chasing stocks more than +5% above the prior high or pivot point. Prior highs near $186 define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Perched +5% Above Prior Highs Following Volume-Driven Gains - 7/15/2016 |
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News |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$38.61
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+0.42
1.10% |
$38.89
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149,104
69.03% of 50 DAV
50 DAV is 216,000
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$41.76
-7.54%
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7/13/2016
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$38.87
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PP = $39.29
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MB = $41.25
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Most Recent Note - 8/1/2016 6:00:44 PM
Y - Quietly sputtering back into its prior base raising concerns. Stalled after the 7/15/16 gain backed by +57% above average volume clinched a technical buy signal.
>>> FEATURED STOCK ARTICLE : Negative Reversal After Touching New High - 7/13/2016 |
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News |
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C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$21.42
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-0.62
-2.81% |
$22.00
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882,225
88.13% of 50 DAV
50 DAV is 1,001,000
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$22.50
-4.80%
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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 - 8/2/2016 5:46:28 PM
G - Still consolidating above its "max buy" level. Recent lows and the 200 DMA line in the $16.85 area define important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Consolidating Near Highs Above its "Max Buy" Level - 7/29/2016 |
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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 |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$63.61
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-2.82
-4.25% |
$66.91
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187,333
120.09% of 50 DAV
50 DAV is 156,000
|
$69.53
-8.51%
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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 - 8/2/2016 5:43:34 PM
G - Churning above average volume while hovering near all-time highs, extended from any sound base. Disciplined investors avoid chasing stocks more than +5% above prior highs. Reported earnings +41% on +35% sales revenues for the Jun '16 quarter. Its 50 DMA line ($58.75) defines near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Rallied +30% in 2 Months Since Breakout Was Featured - 7/28/2016 |
View all notes |
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News |
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C
A
S
I |
FBHS
-
NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc
|
$63.19
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-0.41
-0.64% |
$63.48
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1,233,687
65.94% of 50 DAV
50 DAV is 1,871,000
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$64.47
-1.99%
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6/22/2016
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$57.71
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PP = $60.08
|
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MB = $63.08
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Most Recent Note - 8/1/2016 5:58:46 PM
G - Consolidating above its "max buy" level and its color code is changed to green. Rallied for new highs with +66% above average volume following strong earnings news. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Above "Max Buy" Level Following Volume-Driven Gain - 8/1/2016 |
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C
A
S
I |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
|
$32.88
|
-0.11
-0.33% |
$32.95
|
58,534
57.95% of 50 DAV
50 DAV is 101,000
|
$33.14
-0.78%
|
4/19/2016
|
$28.20
|
PP = $28.10
|
|
MB = $29.51
|
Most Recent Note - 8/1/2016 1:39:42 PM
G - Challenging its 52-week high with today's gain. Volume totals have been below average while holding its ground near all-time highs. Its 50 DMA line ($28.79) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Winning Streak Leaves Leader Extended From Prior Base Pattern - 7/18/2016 |
View all notes |
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News |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$49.47
|
-0.63
-1.26% |
$50.11
|
57,744
52.49% of 50 DAV
50 DAV is 110,000
|
$53.58
-7.67%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 8/1/2016 6:02:36 PM
Y - Quietly slumped below its 50 DMA line ($50.23) today. A volume-driven gain and strong close above the pivot point are needed to clinch a convincing technical buy signal. It has been quietly consolidating since highlighted in yellow in the 7/19/16 mid-day report with pivot point cited based on the 6/01/16 high plus 10 cents.
>>> FEATURED STOCK ARTICLE : Meeting Resistance Near Prior Highs - 7/20/2016 |
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News |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$25.91
|
-1.29
-4.74% |
$27.49
|
1,497,187
153.40% of 50 DAV
50 DAV is 976,000
|
$28.72
-9.78%
|
7/19/2016
|
$26.42
|
PP = $28.82
|
|
MB = $30.26
|
Most Recent Note - 8/2/2016 5:40:32 PM
Y - Erased the prior session's gain with a damaging volume-driven loss today. Volume-driven gains above the pivot point are needed to trigger a convincing technical buy signal. Completed another Secondary Offering on 6/06/16. Such offerings often hinder upward price progress for the short term, yet they also help to attract more institutional sponsorship.
>>> FEATURED STOCK ARTICLE : Retail Firm Approaching Pivot Point - 7/19/2016 |
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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 |
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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.
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