FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Thursday, August 29th, 2024

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AFTER MARKET UPDATE - THURSDAY, AUGUST 29TH, 2024

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Indices				NYSE			Nasdaq
DOW	+243.63	41,335.05	+0.59%	Volume	731,398,672	-3%	Volume	5,878,427,200	+9%
NASDAQ	-39.60	17,516.43	-0.23%	Advancers	1,883	69%	Advancers	2,561	62%
S&P 500	-0.22	5,591.96	-0.00%	Decliners	845	31%	Decliners	1,583	38%
Russell 2000	+14.35	2,202.98	+0.66%	52 Wk Highs	225		52 Wk Highs	155
S&P 600	+6.67	1,405.47	+0.48%	52 Wk Lows	17		52 Wk Lows	98

Dow Jones Industrial Average Presses to a New Record High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow Jones Industrial Average rose +0.59%, meanwhile the S&P 500 Index finished flat as the Nasdaq Composite Index (-0.2%) fell and closed near the low of the day. Volume reported was lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Advancers led decliners by a 9-4 margin on the NYSE and by a 5-3 margin on the Nasdaq exchange. Leadership improved as there were 77 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 54 on the prior session. New 52-week highs totals expanded and outnumbered shrinking new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed 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.

Chart courtesy of www.stockcharts.com

PICTURED: The S&P 600 Index is consolidating after promptly rebounding above its 50-day moving average (DMA) line. The 7/31/24 high challenged its all-time high hit in November 2021. Subsequent gains into new high territory would be a reassuing sign for stocks.

The Dow Jones Industrial Average hit a fresh record high, despite a loss in Salesforce (CRM -0.73%) which initially traded higher following its earnings report. NVIDIA (NVDA -6.38%) suffered a post-earnings decline. Affirm Holdings (AFRM +31.92%), and Best Buy (BBY +14.11%) were standout gainers after earnings reports.

The new economic releases showed that Jobless claims remained steady, below recession-like levels, and Q2 GDP was revised up. The 10-yr note yield settled three basis points higher at 3.87% and the 2-yr note yield settled two basis points higher at 3.89%. A fresh $44 billion 7-yr note sale met soft demand.

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.

Semicondutor Index Fell While Broader Groups Posted Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.26%), Broker/Dealer Index ($XBD +0.47%) and the Bank Index ($BKX +0.56%) each posted a small gain. The tech sector was mixed as the Semiconductor Index ($SOX -0.60%) pulled back while the Networking Index ($NWX +1.04%) and Biotech Index ($BTK +0.71%) both posted gains. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +1.15%), Oil Services Index ($OSX +1.04%), and the Integrated Oil Index ($XOI +0.96%) finished unanimously higher.

Chart courtesy of www.stockcharts.com

PICTURED: The Integrated Oil Index ($XOI +0.96%) has recently been consolidating near its 200-day moving average (DMA) line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change

Holding Ground Near All-Time High After Pullback Testing Support
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Howmet Aerospace Inc (HWM +$0.44 or +0.46% to $96.96) remains perched above its "max buy" level near its all-time high. It wedged higher after a pullback tested prior highs in the $85 area coinciding with its 50-day moving average (DMA) line ($86.31).

The number of top-rated funds owning its shares rose from 1,609 in Sep '23 to 1,803 in Jun '24, a reassuring sign concerning the I criteria. HWM was highlighted in yellow with pivot point cited based on its 5/28/24 high plus 10 cents in the 7/30/24 mid-day report. It was shown that evening under the headline "Breakaway Gap For Howmet Aerospace", with an annotated graph as it hit a new all-time high triggering a technical buy signal volume-driven gain.

Recent quarterly comparisons through Jun '24 showed earnings increases above the +25% minimum guideline (C criteria) versus the year-ago period. Annual earnings (A criteria) history has improved after a downturn in FY '19-20. It has an Earnings Per Share Rating of 93, well above the 80+ minimum for buy candidates.

Chart 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
USLM - NASDAQ U.S. Lime & Minerals Bldg-Cement/Concrt/Ag	$78.83	+0.72 0.92%	$79.71	38,708 43.01% of 50 DAV 50 DAV is 90,000	$87.13 -9.53%	6/18/2024	$71.26	PP = $75.77
								MB = $79.56
Most Recent Note - 8/27/2024 5:18:30 PM G - Pulled back today for a loss with below average volume. Volume totals have been cooling while consolidating above its 50 DMA line ($76.26). Near-term resistance remains due to overhead supply up to the $87 level. >>> FEATURED STOCK ARTICLE : Volume Cooling While Consolidating Above 50-Day Moving Average - 8/21/2024 \| 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	$74.00	-0.05 -0.07%	$75.36	646,608 90.69% of 50 DAV 50 DAV is 713,000	$75.15 -1.53%	6/11/2024	$59.76	PP = $64.33
								MB = $67.55
Most Recent Note - 8/27/2024 5:16:13 PM G - Volume was +44% above average behind today's small gain as it hit another new all-time high. Its 50 DMA line ($66.19) defines inital support to watch on pullbacks above prior highs in the $64 area. >>> 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	$96.97	+0.71 0.74%	$97.85	241,326 35.03% of 50 DAV 50 DAV is 689,000	$101.50 -4.46%	7/23/2024	$96.92	PP = $93.39
								MB = $98.06
Most Recent Note - 8/28/2024 5:36:04 PM Y - Lost ground today with lighter volume. There was a noted "negative reversal" for a loss with light volume on 8/26/24 after touching a new all-time high. Recently found prompt support near its 50 DMA line ($90). >>> FEATURED STOCK ARTICLE : Reversed Into Red After Quietly Touching a New High - 8/26/2024 \| 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	$168.63	-0.97 -0.57%	$171.11	427,856 53.15% of 50 DAV 50 DAV is 805,000	$177.72 -5.11%	7/26/2024	$173.08	PP = $175.82
								MB = $184.61
Most Recent Note - 8/27/2024 5:13:38 PM G - Posted a gain today with below-average volume. Closed just below its 50 DMA line ($169.39) which is now downward sloping and has acted as resistance. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Meeting Stubborn Resistance at 50-Day Moving Average - 8/27/2024 \| 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	$96.96	+0.44 0.46%	$97.75	1,949,366 65.00% of 50 DAV 50 DAV is 2,999,000	$98.15 -1.21%	7/30/2024	$93.95	PP = $85.52
								MB = $89.80
Most Recent Note - 8/29/2024 10:35:19 PM G - Holding its ground hovering above its "max buy" level near its all-time high. Wedged higher after a pullback tested prior highs in the $85 area coinciding with its 50 DMA line. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Holding Ground Near All-Time High After Pullback Testing Support - 8/29/2024 \| 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	$2,015.79	+20.62 1.03%	$2,023.55	199,399 62.90% of 50 DAV 50 DAV is 317,000	$2,048.99 -1.62%	8/5/2024	$1,793.73	PP = $1,792.15
								MB = $1,881.76
Most Recent Note - 8/28/2024 5:34:44 PM G - Pulled back today with lighter volume after quietly hitting a new 52-week high on the prior session. 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

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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