FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - FRIDAY, AUGUST 2ND, 2024

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Indices				NYSE			Nasdaq
DOW	-610.71	39,737.26	-1.51%	Volume	1,221,610,431	+9%	Volume	6,445,793,500	-6%
NASDAQ	-417.98	16,776.16	-2.43%	Advancers	682	25%	Advancers	776	18%
S&P 500	-100.12	5,346.56	-1.84%	Decliners	2,075	75%	Decliners	3,488	82%
Russell 2000	-76.85	2,109.31	-3.52%	52 Wk Highs	149		52 Wk Highs	113
S&P 600	-46.90	1,350.34	-3.36%	52 Wk Lows	117		52 Wk Lows	333

Market Weakness Has Look of a More Worrisome Correction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The major indices suffered damaging losses on Friday, with the Dow Jones Industrial Average ending the session down -1.5% while the S&P 500 Index fell -1.84% and the Nasdaq Composite Index fell -2.43%. Volume reported was higher than the prior session total on the NYSE and lighter on the Nasdaq exchange. Decliners led advancers by a 3-1 margin on the NYSE and by more than 4-1 on the Nasdaq exchange. There were 53 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 53 on the prior session. New 52-week highs totals contracted yet still outnumbered new 52-week lows on the NYSE, but new lows swelled and solidly outnumbered new highs on the Nasdaq exchange. The major indices encountered more worrisome pressure having the look of a serious market correction (M criteria). Disciplined investors know that in corrections it is wise to reduce market exposure by selling any weakening stocks on a case-by-case basis.

Chart courtesy of www.stockcharts.com

PICTURED: The Nasdaq Composite Index met resistance near its 50-day moving average (DMA) line and slumped with damaging volume-driven losses. The deterioration to new lows raised greater concerns for the broader market outlook.

Nonfarm payrolls increased by just 114,000, the unemployment rate jumped to 4.3% from 4.1%, and average hourly earnings decelerated on a year-over-year basis to 3.6% from 3.8%. Growth concerns sent Treasury yields sharply lower as the 10-yr note yield settled 18 basis points lower at 3.79% and the 2-yr note yield settled 29 basis points lower at 3.87%.

A broad retreat sent 7of the 11 S&P 500 sectors down at least -1.9%. Dow components Amazon.com (AMZN -8.8%) and Intel (INTC -26.1%) were standouts decliners. AMZN had weaker-than-expected Q3 revenue guidance. INTC disappointed with Q2 earnings, Q3 guidance, and news that it will be suspending its dividend. It is also cutting more than 15% of its workforce. Apple (AAPL +0.7%) inched higher after reporting quarterly results that featured better than expected earnings and revenue.

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.

Retail, Tech, Financial, and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -5.90%), Broker/Dealer Index ($XBD -3.96%) and the Bank Index ($BKX -4.32%) each ended solidly in the red on Friday. The tech sector was led lower by another big loss for the Semiconductor Index ($SOX -5.18%) followed by the Networking Index ($NWX -3.19%) and the Biotech Index ($BTK -1.54%). Commodity-linked groups had a negative bias as the Gold & Silver Index ($XAU -2.61%), Oil Services Index ($OSX -5.20%) and the Integrated Oil Index ($XOI -3.27%) posted unanimous losses.

Chart courtesy of www.stockcharts.com

PICTURED: The Semiconductor Index ($SOX -5.18%) was a laggard on Friday as it gapped down testing its 200-day moving average (DMA) line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	83.71	-4.60	-5.20%	-0.20%
Integrated Oil	$XOI	1,946.12	-65.76	-3.27%	+4.49%
Semiconductor	$SOX	4,607.76	-251.83	-5.18%	+10.35%
Networking	$NWX	894.16	-29.48	-3.19%	+7.37%
Broker/Dealer	$XBD	618.31	-25.50	-3.96%	+10.95%
Retail	$RLX	4,237.56	-265.58	-5.90%	+8.97%
Gold & Silver	$XAU	145.51	-3.90	-2.61%	+15.77%
Bank	$BKX	106.35	-4.80	-4.32%	+10.76%
Biotech	$BTK	5,698.77	-89.40	-1.54%	+5.17%

Slump to New Lows Hurts Outlook
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Transdigm Group Inc (TDG -$55.77 or -4.40% to $1,212.27) met resistance this week after rebounding near its 50-day moving average (DMA) line ($1,295) and it slumped to new 13-week lows as Friday's big loss raised greater concerns. A rebound above the 50 DMA line is needed fro its outlook to improve. Fundamentals remain strong.

TDG was last shown in this FSU section on 7/10/24 with an annotated graph under the headline, "Lingering Below 50-Day Moving Average But Only -7% Off High". TDG reported Mar '24 quarterly earnings +34% on +21% sales revenues versus the year-ago period, its 12th consecutive comparison above the +25% minimum earnings guideline (C criteria). Growth has been very strong after a downturn in FY '20 and '21 (A criteria) hurt its earnings track record. It has a 92 Earnings Per Share Rating.

The number of top-rated funds owning its shares rose from 1,332 in Dec '22 to 1,624 in Jun '24, a reassuring trend concerning the I criteria. Its small supply of 53.7 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. It has a Timeliness Rating of B and an Accumulation/Distribution rating of C-.

Charts used courtesy of www.stockcharts.com

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	$1,212.27	-55.77 -4.40%	$1,249.77	314,646 130.02% of 50 DAV 50 DAV is 242,000	$1,369.58 -11.49%	7/31/2024	$1,294.22	PP = $1,369.68
								MB = $1,438.16
Most Recent Note - 8/2/2024 7:05:03 PM G - Color code was changed to green after meeting resistance near its 50 DMA line ($1,290) and slumping to new lows. A rebound above the 50 DMA line is needed for its outlook to improve. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Slump to New Lows Hurts Outlook - 8/2/2024 \| 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	$78.07	-6.86 -8.08%	$81.61	71,565 70.16% of 50 DAV 50 DAV is 102,000	$87.13 -10.40%	6/18/2024	$71.26	PP = $75.77
								MB = $79.56
Most Recent Note - 8/2/2024 12:45:14 PM G - Gapped down today for a big volume-driven loss raising concerns while retreating from its all-time high. Prior highs in the $75 area define initial support to watch above its 50 DMA line ($73.55). Do not be confused as shares split 5:1 (Featured Price and Pivot Point were adjusted). >>> FEATURED STOCK ARTICLE : Recent Breakout Triggered New (or Add-On) Technical Buy Signal - 7/22/2024 \| 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	$69.52	+0.13 0.19%	$69.77	668,905 93.55% of 50 DAV 50 DAV is 715,000	$73.01 -4.78%	6/11/2024	$59.76	PP = $64.33
								MB = $67.55
Most Recent Note - 7/31/2024 4:56:39 PM G - Posted a gain backed by average volume hitting another new all-time high. Prior highs in the $64 area define initial support to watch above its 50 DMA line ($62.79). See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Hit New High While Making Steady Progress - 7/31/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
MMYT - NASDAQ MakeMyTrip Leisure-Travel Booking	$84.89	-4.60 -5.14%	$86.32	947,238 124.80% of 50 DAV 50 DAV is 759,000	$100.22 -15.30%	7/23/2024	$96.92	PP = $93.39
								MB = $98.06
Most Recent Note - 8/2/2024 12:48:13 PM Y - Gapped down today undercutting prior highs in the $89 area and testing support at its 50 DMA line ($84). More damaging losses would raise greater concerns. >>> FEATURED STOCK ARTICLE : Volume Driven Trip to New Highs - 7/23/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TXRH - NASDAQ Texas Roadhouse Retail-Restaurants	$166.13	-7.00 -4.04%	$170.97	819,229 98.82% of 50 DAV 50 DAV is 829,000	$177.72 -6.52%	7/26/2024	$173.08	PP = $175.82
								MB = $184.61
Most Recent Note - 8/2/2024 12:51:30 PM G - Color code is changed to green after slumping below its 50 DMA line with today's loss. A rebound above the 50 DMA line is needed for its outlook to improve. Touched a new all-time on the prior session. Subsequent gains and a close above the pivot point backed by at least +40% above average volume may trigger a proper technical buy signal. >>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure When Poised to Break Out - 7/26/2024 \| 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
HWM - NYSE Howmet Aerospace Aerospace/Defense	$90.16	-4.71 -4.96%	$93.75	4,454,806 150.45% of 50 DAV 50 DAV is 2,961,000	$97.29 -7.33%	7/30/2024	$93.95	PP = $85.52
								MB = $89.80
Most Recent Note - 8/2/2024 12:47:06 PM Y - Pulling back today for a 2nd loss after a streak of 5 volume-driven gains for new highs. Prior highs in the $85 area define initial support to watch above its 50 DMA line. >>> FEATURED STOCK ARTICLE : Breakaway Gap For Howmet Aerospace - 7/30/2024 \| 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.

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