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AFTER MARKET UPDATE - TUESDAY, AUGUST 18TH, 2020
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DOW |
-66.84 |
27,778.07 |
-0.24% |
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Volume |
770,522,627 |
+3% |
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Volume |
3,175,046,900 |
-1% |
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NASDAQ |
+81.11 |
11,210.84 |
+0.73% |
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Advancers |
1,165 |
39% |
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Advancers |
1,244 |
38% |
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S&P 500 |
+7.79 |
3,389.78 |
+0.23% |
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Decliners |
1,796 |
61% |
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Decliners |
2,072 |
62% |
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Russell 2000 |
-15.70 |
1,569.77 |
-0.99% |
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52 Wk Highs |
100 |
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52 Wk Highs |
137 |
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S&P 600 |
-11.96 |
907.13 |
-1.30% |
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52 Wk Lows |
11 |
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52 Wk Lows |
22 |
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S&P 500 and Nasdaq Composite Index Hit New Record Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 added 0.2%, closing at a fresh record level for the first time since February 19. The Dow slipped 66 points, while the Nasdaq Composite was up 0.7%, hitting an all-time high for the second-straight session. The reported volume totals were mixed, higher than the prior session total on the NYSE and slightly lower on the Nasdaq exchange. Decliners led advancers by a 3-2 margin on the NYSE and by a 5-3 margin on the Nasdaq exchange. There were 48 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 56 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows totals on both the NYSE and the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Any sustainable rally requires a healthy crop of new leaders, so it remains ever-important to see substantial new highs totals. Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index hit a new record high and it is +4.9% year-to-date. Stocks finished mostly higher on Tuesday as investors weighed retail earnings reports, housing data, and renewed U.S.-China tensions. In geopolitical news, the Commerce Department announced new restrictions on Huawei Technologies, prohibiting non-U.S. chipmakers that use U.S. technology to sell to the Chinese telecom giant without a special license.
On the data front, housing starts surged 22.6% in July, the most since October 2016. Building permits spiked 18.8% during the same period, exceeding estimates calling for a 5.4% uptick. Treasuries strengthened, with the yield on the 10-year note down three basis points to 0.66%, while a gauge of the U.S. dollar slid to its lowest point in more than two years. In commodities, WTI crude drifted from a five-month high. COMEX gold extended yesterday’s rally, once again surpassing $2,000.00/ounce.
Seven of 11 S&P 500 sectors closed in negative territory, with Consumer Discretionary shares outperforming. Amazon jumped 4.1% as the e-Commerce giant took steps to encourage its third-party sellers to meet its delivery standards for Prime members. In earnings, Walmart (WMT -0.66%) hit a new all-time high but suffered a "negative reversal" and ended lower after warning that consumer spending slowed last month as federal stimulus support waned. Kohl’s (KSS -14.67%) fell following downbeat forward guidance, while Home Depot (HD -1.12%) fell despite a 23.4% surge in comparable-store sales. NYSE trading volume was roughly 33% below the average daily level observed this year, according to Dow Jones Market Data.
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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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Retail Index Posts Standout Gain as Most Groups Fall
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.95%) posted a standout gain while the Bank Index ($BKX -1.82%) and the Broker/Dealer Index ($XBD -0.66%) both created a drag on the major indices. The Networking Index ($NWX +0.16%) eked out a very small gain while the Semiconductor Index ($SOX -0.58%) and Biotech Index ($BTK -0.68%) both ended modestly lower. The Oil Services Index ($OSX -2.17%) and Integrated Oil Index ($XOI -1.79%) both outpaced the Gold & Silver Index ($XAU -0.77%) to the downside. PICTURED: The Gold & Silver Index ($XAU -0.77%) is perched near its 52-week high after a brief consolidation.
| Oil Services |
$OSX |
38.29 |
-0.85 |
-2.17% |
-51.09% |
| Integrated Oil |
$XOI |
756.33 |
-13.81 |
-1.79% |
-40.47% |
| Semiconductor |
$SOX |
2,214.66 |
-12.95 |
-0.58% |
+19.74% |
| Networking |
$NWX |
600.86 |
+0.96 |
+0.16% |
+2.99% |
| Broker/Dealer |
$XBD |
290.59 |
-1.94 |
-0.66% |
+0.07% |
| Retail |
$RLX |
3,509.32 |
+67.15 |
+1.95% |
+43.28% |
| Gold & Silver |
$XAU |
153.28 |
-1.19 |
-0.77% |
+43.36% |
| Bank |
$BKX |
75.86 |
-1.41 |
-1.82% |
-33.08% |
| Biotech |
$BTK |
5,607.14 |
-38.49 |
-0.68% |
+10.65% |
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50-Day Moving Average Acted As Support Level
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Netflix Inc (NFLX +$9.52 or +1.97% to $491.87) found prompt support last week after briefly undercutting both its 50-day moving average (DMA) line ($479.87) and prior low ($467.54). The rebound above the 50 DMA line helped its outlook improve, however, the volume behind recent gains has been very light. It has not formed a sound base pattern. NFLX was last shown in this FSU section on 7/29/20 with an annotated graph under the headline,"Consolidating After Getting Extended From Prior Base". Fundamentals remain strong. NFLX has been consolidating after reporting Jun '20 earnings +165% on +25% sales revenues versus the year ago period. It has tallied 4 consecutive quarterly comparisons well above the +25% minimum guideline (C criteria). It has traded up as much as +46.2% since it was highlighted in yellow with pivot point cited based on its 3/03/20 high plus 10 cents in the 4/13/20 mid-day report (read here). A previously noted downturn in FY '15 earnings (A criteria) has been followed by very strong growth. The number of top-rated funds owning its shares (I criteria) rose from 1,534 in Mar '17 to 2,717 in Jun '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under slight accumulation over the past 50 days. The company has 423.4 million shares in the public float (S criteria) which can make it a less likely sprinter. It has a Timeliness rating of A, a Sponsorship rating of B, and an Accumulation/Distribution Rating of C-. Charts courtesy of www.stockcharts.com
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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 |
CRL
-
NYSE
Charles River Labs Intl
DRUGS - Biotechnology
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$217.15
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-1.30
-0.60% |
$219.25
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266,726
70.38% of 50 DAV
50 DAV is 379,000
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$221.97
-2.17%
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7/15/2020
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$192.66
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PP = $189.95
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MB = $199.45
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Most Recent Note - 8/17/2020 6:10:53 PM
G - Volume totals have been cooling while hovering near its all-time high. Bullish action last week came after it reported Jun '20 quarterly earnings -3% on +4% sales revenues, below the +25% minimum guideline (C criteria) but better than expected while the company also raised its guidance. The prior high ($189.85 on 6/03/20) defines initial support to watch above its 50 DMA line ($191.37).
>>> FEATURED STOCK ARTICLE : Hit New Highs Again; EPS Rating Dropped Yet Remains High at 92 - 8/7/2020 |
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C
A
S
I |
EBS
-
NYSE
Emergent Biosolutions
DRUGS - Biotechnology
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$129.92
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-3.47
-2.60% |
$132.92
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1,010,809
95.90% of 50 DAV
50 DAV is 1,054,000
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$137.61
-5.59%
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7/7/2020
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$89.47
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PP = $93.68
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MB = $98.36
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Most Recent Note - 8/18/2020 5:19:08 PM
G - Pulled back today with higher (near average) volume, yet it remains perched near its all-time high and very extended from any sound base. Bullish action came after it reported Jun '20 quarterly earnings +890% on +62% sales revenue for the Jun '20 quarter versus the year ago period. Prior highs in the $93 area define initial support above its 50 DMA line ($92.41).
>>> FEATURED STOCK ARTICLE : Rally Continues Into Record High Territory - 8/4/2020 |
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C
A
S
I |
BMRN
-
NASDAQ
Biomarin Pharmaceutical
DRUGS - Drug Manufacturers - Other
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$118.54
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-0.95
-0.80% |
$119.90
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723,213
56.06% of 50 DAV
50 DAV is 1,290,000
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$131.95
-10.16%
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6/17/2020
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$110.95
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PP = $112.67
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MB = $118.30
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Most Recent Note - 8/13/2020 7:44:44 PM
G - Still sputtering below its 50 DMA line ($120). A prompt rebound above the 50 DMA line is needed for its outlook to improve. Recently reported Jun '20 quarterly earnings +220% on +11% sales revenues versus the year ago period, continuing its strong earnings track record.
>>> FEATURED STOCK ARTICLE : Hovering Above 50-Day Average After Another Strong Earnings Report - 8/5/2020 |
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C
A
S
I |
AMD
-
NASDAQ
Advanced Micro Devices
ELECTRONICS - Semiconductor - Broad Line
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$81.66
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-0.76
-0.92% |
$82.88
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30,819,671
47.18% of 50 DAV
50 DAV is 65,319,000
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$87.29
-6.45%
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7/22/2020
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$61.73
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PP = $59.10
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MB = $62.06
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Most Recent Note - 8/14/2020 5:26:27 PM
G - Volume totals have been cooling while perched near its all-time high, very extended from the previously noted base. The recent low ($76.10 on 8/11/20) defines near-term support above its 50 DMA line ($62.27). Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : AMD Rose +46% Since First Featured on June 9th - 8/14/2020 |
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C
A
S
I |
TREX
-
NYSE
Trex Company Inc
MATERIALS and CONSTRUCTION - General Building Materials
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$146.25
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+1.81
1.25% |
$147.22
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427,845
49.46% of 50 DAV
50 DAV is 865,000
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$147.50
-0.85%
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6/26/2020
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$109.05
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PP = $132.94
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MB = $139.59
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Most Recent Note - 8/17/2020 6:12:50 PM
G - Touched a new all-time high today but ended near the session low with a small gain backed by light volume. It has been wedging above its "max buy" level with volume totals cooling. Reported Jun '20 quarterly earnings +27% on +7% sales revenues versus the year ago period. Important near-term support is at its 50 DMA line ($130).
>>> FEATURED STOCK ARTICLE : Perched Near All Time High With Earnings News Due Monday - 7/30/2020 |
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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 |
NFLX
-
NASDAQ
Netflix Inc
SPECIALTY RETAIL - Music and Video Stores
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$491.87
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+9.52
1.97% |
$495.30
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3,484,726
46.01% of 50 DAV
50 DAV is 7,574,000
|
$575.37
-14.51%
|
5/14/2020
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$441.95
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PP = $449.62
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MB = $472.10
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Most Recent Note - 8/18/2020 5:16:29 PM
G - Found prompt support last week after briefly undercutting both its 50 DMA line ($479.87) and prior low ($467.54). The rebound above the 50 DMA line helped its outlook improve, however, the volume behind recent gains has been very light. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Acted As Support Level - 8/18/2020 |
View all notes |
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C
A
S
I |
CHGG
-
NYSE
Chegg Inc
Consumer Svcs-Education
|
$78.22
|
-1.49
-1.87% |
$82.07
|
5,161,411
143.01% of 50 DAV
50 DAV is 3,609,000
|
$89.82
-12.91%
|
6/17/2020
|
$63.71
|
PP = $68.08
|
|
MB = $71.48
|
Most Recent Note - 8/18/2020 5:17:48 PM
G - Churned heavier volume today and lost ground after 3 consecutive gains with below average volume. Very extended from any sound base. Reported Jun '20 quarterly earnings +61% on +63% sales revenues versus the year ago period. Its 50 DMA line ($71.94) defines support to watch above its prior high in the $68 area. Any losses leading to violations would raise concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Bullish Action Continued After Latest Strong Earnings Report - 8/6/2020 |
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C
A
S
I |
LGIH
-
NASDAQ
L G I Homes Inc
Bldg-Resident/Comml
|
$115.24
|
+0.72
0.63% |
$118.80
|
345,350
104.97% of 50 DAV
50 DAV is 329,000
|
$123.94
-7.02%
|
7/7/2020
|
$99.19
|
PP = $95.82
|
|
MB = $100.61
|
Most Recent Note - 8/17/2020 6:16:17 PM
G - Posted a big gain today with light volume, rebounding toward its 52-week high. It is extended from the previously noted base. Its 50 DMA line ($101.27) defines near-term support to watch above prior highs in the $95 area.
>>> FEATURED STOCK ARTICLE : Earning News Due Next Week for Homebuilder - 7/31/2020 |
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C
A
S
I |
NOW
-
NYSE
Servicenow Inc
Computer Sftwr-Enterprse
|
$437.58
|
-4.79
-1.08% |
$444.36
|
2,258,612
133.49% of 50 DAV
50 DAV is 1,692,000
|
$454.70
-3.77%
|
4/30/2020
|
$343.05
|
PP = $363.05
|
|
MB = $381.20
|
Most Recent Note - 8/13/2020 7:42:23 PM
G - Consolidating above its 50 DMA line ($415.47) which defines important near-term support to watch. Subsequent losses leading to a violation may trigger a technical sell signal. Reported Jun '20 quarterly earnings +73% on +28% sales revenues versus the year ago period. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Average After Another Strong Quarter - 8/13/2020 |
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C
A
S
I |
TTD
-
NASDAQ
The Trade Desk Inc Cl A
Comml Svcs-Advertising
|
$469.08
|
-5.77
-1.22% |
$484.00
|
547,389
36.86% of 50 DAV
50 DAV is 1,485,000
|
$510.00
-8.02%
|
6/3/2020
|
$340.61
|
PP = $327.35
|
|
MB = $343.72
|
Most Recent Note - 8/17/2020 6:14:53 PM
G - Quietly holding its ground still perched near its all-time high. Recently reported Jun '20 quarterly earnings -3% on -13% sales revenues versus the year ago period, raising fundamental concerns. It is extended from any sound base of sufficient length. Its 50 DMA line ($428.60) defines near-term support above the prior low ($404 on 7/24/20) where violations may trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Hovering Near High After Latest Quarterly Report Raised Concerns - 8/12/2020 |
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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 |
DOCU
-
NASDAQ
Docusign Inc
Computer Sftwr-Enterprse
|
$209.47
|
+1.77
0.85% |
$213.53
|
2,754,731
53.58% of 50 DAV
50 DAV is 5,141,000
|
$229.83
-8.86%
|
6/10/2020
|
$149.73
|
PP = $152.10
|
|
MB = $159.71
|
Most Recent Note - 8/17/2020 6:09:27 PM
G - Posted a 4th consecutive gain with below average volume, consolidating above its 50 DMA line ($188.22) and prior low ($189.12 on 8/12/20) which define important near-term support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Moving Average Line and Recent Low - 8/17/2020 |
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C
A
S
I |
PING
-
NYSE
Ping Identity Holdings Corp
Computer Sftwr-Security
|
$32.49
|
-0.73
-2.20% |
$33.75
|
925,650
70.42% of 50 DAV
50 DAV is 1,314,400
|
$37.80
-14.05%
|
6/1/2020
|
$29.24
|
PP = $29.90
|
|
MB = $31.40
|
Most Recent Note - 8/13/2020 12:51:23 PM
G - Reported Jun '20 quarterly earnings -27% on -6% sales revenues versus the year ago period, below the +25% minimum earnings guideline, raising fundamental concerns. Undercut its 50 DMA line ($32.62) with today's 5th consecutive volume-driven loss. The next important near-term support is the prior highs in the $29 area. It has not formed a sound base of sufficient length. Completed Secondary Offerings on 7/09/20 and 5/15/20.
>>> FEATURED STOCK ARTICLE : Perched Near High With Earnings News Due Wednesday Evening - 8/10/2020 |
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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.
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