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AFTER MARKET UPDATE - FRIDAY, AUGUST 16TH, 2024
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DOW |
+96.70 |
40,659.76 |
+0.24% |
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Volume |
872,458,065 |
-2% |
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Volume |
5,252,203,300 |
-7% |
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NASDAQ |
+37.22 |
17,631.72 |
+0.21% |
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Advancers |
1,773 |
65% |
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Advancers |
2,536 |
60% |
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S&P 500 |
+11.03 |
5,554.25 |
+0.20% |
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Decliners |
959 |
35% |
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Decliners |
1,665 |
40% |
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Russell 2000 |
+6.45 |
2,141.92 |
+0.30% |
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52 Wk Highs |
121 |
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52 Wk Highs |
125 |
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S&P 600 |
+3.42 |
1,370.44 |
+0.25% |
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52 Wk Lows |
16 |
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52 Wk Lows |
92 |
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A solid follow-through day was noted on Tuesday confirming a new market uptrend (M criteria).
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Major Indices Inched Higher for Gains on Lighter Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.2%), Nasdaq Composite (+0.2%), Dow Jones Industrial Average (+0.2%), and Russell 2000 (+0.2%) posted unanimous gains and ended near their session highs. Volume reported for Friday was lighter than the prior session totals on the NYSE and on the Nasdaq exchange, indicative of lackluster institutional buying demand. Breadth was positive as advancers led decliners by almost a 2-1 margin on the NYSE and by 5-3 on the Nasdaq exchange. There were 42 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 51 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. Bullish action in the major indices recently confirmed a new market uptrend (M criteria). Disciplined investors know that new buying efforts are only to be made in stocks meeting all key criteria of the fact-based investment system.
X PICTURED: The posted a 3rd consecutive gain with higher volume, making steady progress after promptly repairing the recent violation of its 50-day moving average (DMA) line.
None of the S&P 500 sectors moved more than 0.6% in either direction. The financial sector showed relative strength, closing 0.6% higher, and the industrial sector (-0.2%) logged the "biggest" loss.
The 2-yr note yield settled four basis points lower at 4.06% and the 10-yr note yield settled four basis points lower to 3.89%. A disappointing housing starts and building permits report for July limited buying enthusiasm along with unimpressive earnings results from chip equipment maker Applied Materials (AMAT-1.9%). Stocks were largely indecisive as Dexcom (DXCM +3.2%) and Amcor (AMCR -3.7%) were the best and worst performing stocks in the S&P 500, respectively.
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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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Gold & Silver, Financial, and Networking INdexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.79%) and Bank Index ($BKX +1.13%) each posted solid gains on Friday while the Retail Index ($RLX -0.02%) finished flat. The tech sector was led by the Networking Index ($NWX +1.01%) while the Semiconductor Index ($SOX -0.06%) finished flat and the Biotech Index ($BTK -0.38%) edged lower. The Gold & Silver Index ($XAU +2.58%) posted a solid gain while the Oil Services Index ($OSX -0.17%) and the Integrated Oil Index ($XOI -0.19%) both ended slightly lower.
X
PICTURED: The gapped up and posted a solid gain on . It recently found support near its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
83.21 |
-0.14 |
-0.17% |
-0.79% |
| Integrated Oil |
$XOI |
2,011.45 |
-3.80 |
-0.19% |
+8.00% |
| Semiconductor |
$SOX |
5,170.25 |
-3.14 |
-0.06% |
+23.82% |
| Networking |
$NWX |
993.05 |
+9.90 |
+1.01% |
+19.24% |
| Broker/Dealer |
$XBD |
664.05 |
+5.23 |
+0.79% |
+19.16% |
| Retail |
$RLX |
4,396.20 |
-0.92 |
-0.02% |
+13.05% |
| Gold & Silver |
$XAU |
153.53 |
+3.72 |
+2.48% |
+22.15% |
| Bank |
$BKX |
110.70 |
+1.24 |
+1.13% |
+15.29% |
| Biotech |
$BTK |
5,766.06 |
-21.92 |
-0.38% |
+6.41% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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 |  USLM - NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag | $77.08 | -0.66
-0.85% | $78.93 | 84,258
84.26% of 50 DAV
50 DAV is 100,000 | $87.13
-11.53%
| 6/18/2024 | $71.26 | PP = $75.77 | | MB = $79.56 | Most Recent Note - 8/15/2024 2:44:06 PM
G - Gapped up today rebounding further above the 50 DMA line ($74.30) helping its outlook to improve. Resistance remains due to overhead supply up to the $87 level.
>>> 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 | $70.99 | +0.87
1.24% | $71.51 | 431,599
55.98% of 50 DAV
50 DAV is 771,000 | $73.01
-2.77%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 |  Most Recent Note - 8/16/2024 11:45:25 PM
G - Volume was below average behind the 2 latest gains while wedging to new high closes. Prior highs in the $64 area define important support to watch coinciding with its 50 DMA line ($64.59).
>>> 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 | $94.63 | -1.93
-2.00% | $96.75 | 582,897
81.30% of 50 DAV
50 DAV is 717,000 | $100.22
-5.58%
| 7/23/2024 | $96.92 | PP = $93.39 | | MB = $98.06 | Most Recent Note - 8/16/2024 11:41:55 PM
Y - Pulled back from its all-time high today with below-average volume. Recently found prompt support near its 50 DMA line ($87). 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 | $167.26 | -2.74
-1.61% | $170.20 | 723,372
88.54% of 50 DAV
50 DAV is 817,000 | $177.72
-5.89%
| 7/26/2024 | $173.08 | PP = $175.82 | | MB = $184.61 | Most Recent Note - 8/16/2024 11:43:52 PM
G - Pulled back today and closed below its 50 DMA line ($169.58) which is now downward sloping and may act as resistance.
>>> 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 | HWM - NYSE
Howmet Aerospace
Aerospace/Defense | $95.82 | +0.24
0.25% | $96.22 | 1,350,979
43.23% of 50 DAV
50 DAV is 3,125,000 | $97.29
-1.51%
| 7/30/2024 | $93.95 | PP = $85.52 | | MB = $89.80 | Most Recent Note - 8/15/2024 9:18:04 PM
Y - Volume totals have been cooling while wedging toward its all-time high. Found prompt support after a pullback tested prior highs in the $85 area defining initial support to watch above its 50 DMA line ($83.49).
>>> 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 | 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 | MELI - NASDAQ
MercadoLibre
Retail-Internet | $1,977.97 | -18.47
-0.93% | $1,999.00 | 245,078
75.88% of 50 DAV
50 DAV is 323,000 | $1,998.68
-1.04%
| 8/5/2024 | $1,793.73 | PP = $1,792.15 | | MB = $1,881.76 | Most Recent Note - 8/15/2024 12:01:27 PM
G - Powering to a new 52-week high with today's big gain. Color code was changed to green after rising above its "max buy" level. Prior highs define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finished Flat When Poised to Breakout - 8/5/2024 | 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 |
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Max Buy |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$77.74
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+3.19
4.28% |
$78.15
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56,427
56.43% of 50 DAV
50 DAV is 100,000
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$87.13
-10.78%
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6/18/2024
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$71.26
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PP = $75.77
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MB = $79.56
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Most Recent Note - 8/15/2024 2:44:06 PM
G - Gapped up today rebounding further above the 50 DMA line ($74.30) helping its outlook to improve. Resistance remains due to overhead supply up to the $87 level.
>>> 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
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NYSE
Granite Construction
Bldg-Heavy Construction
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$70.12
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+1.28
1.86% |
$71.08
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507,772
66.03% of 50 DAV
50 DAV is 769,000
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$73.01
-3.96%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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Most Recent Note - 8/14/2024 5:17:24 PM
G - Volume totals have still been cooling while stubbornly holding its ground near its all-time high. Prior highs in the $64 area define important support to watch coinciding with its 50 DMA line ($64.17).
>>> 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
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NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$96.56
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+1.63
1.71% |
$97.51
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581,892
80.82% of 50 DAV
50 DAV is 720,000
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$100.22
-3.65%
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7/23/2024
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$96.92
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PP = $93.39
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MB = $98.06
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Most Recent Note - 8/13/2024 5:17:49 PM
Y - Managed a "positive reversal" and posted a gain today with below-average volume. Recently found prompt support near its 50 DMA line ($86). 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
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$170.00
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+2.31
1.38% |
$172.65
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656,424
80.35% of 50 DAV
50 DAV is 817,000
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$177.72
-4.34%
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7/26/2024
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$173.08
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PP = $175.82
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MB = $184.61
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Most Recent Note - 8/13/2024 5:19:12 PM
G - Posted a gain today rebounding to close just above its 50 DMA line ($169.67) with higher (below-average) volume helping its outlook to improve.
>>> 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 |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$95.58
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+1.70
1.81% |
$95.84
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2,144,709
68.46% of 50 DAV
50 DAV is 3,133,000
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$97.29
-1.76%
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7/30/2024
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$93.95
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PP = $85.52
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MB = $89.80
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Most Recent Note - 8/15/2024 9:18:04 PM
Y - Volume totals have been cooling while wedging toward its all-time high. Found prompt support after a pullback tested prior highs in the $85 area defining initial support to watch above its 50 DMA line ($83.49).
>>> 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 |
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 |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$1,996.44
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+97.87
5.15% |
$1,998.68
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519,149
162.23% of 50 DAV
50 DAV is 320,000
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$1,923.18
3.81%
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8/5/2024
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$1,793.73
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PP = $1,792.15
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MB = $1,881.76
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Most Recent Note - 8/15/2024 12:01:27 PM
G - Powering to a new 52-week high with today's big gain. Color code was changed to green after rising above its "max buy" level. Prior highs define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finished Flat When Poised to Breakout - 8/5/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
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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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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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