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AFTER MARKET UPDATE - TUESDAY, SEPTEMBER 1ST, 2015
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DOW |
-469.68 |
16,058.35 |
-2.84% |
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Volume |
1,120,629,580 |
+4% |
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Volume |
2,069,172,790 |
+24% |
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NASDAQ |
-140.41 |
4,636.10 |
-2.94% |
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Advancers |
432 |
14% |
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Advancers |
565 |
18% |
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S&P 500 |
-58.33 |
1,913.85 |
-2.96% |
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Decliners |
2,716 |
86% |
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Decliners |
2,542 |
82% |
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Russell 2000 |
-31.40 |
1,128.05 |
-2.71% |
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52 Wk Highs |
6 |
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52 Wk Highs |
13 |
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S&P 600 |
-18.59 |
656.27 |
-2.75% |
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52 Wk Lows |
99 |
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52 Wk Lows |
59 |
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Breadth Negative as Volume Rose Behind More Big Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks tumbled more than 3% on Tuesday. The Dow finished 469 points lower to 16058. The S&P 500 declined 58 points to 1913. The NASDAQ lost 140 points to 4636. Tuesday's volume totals were reported higher than the prior session on the NYSE and on the Nasdaq exchange, a sign of more worrisome distributional pressure coming from the institutional crowd. Breadth was negative as decliners led advancers by more than a 6-1 margin on the NYSE and by more than 4-1 in the Nasdaq exchange. Leadership thinned as there were only 3 stocks that made it onto the BreakOuts Page, down from 6 high-ranked companies from the Leaders List that made a new 52-week high on the prior session. There were losses for all 5 high-ranked companies currently on the Featured Stocks Page, a list that was trimmed during recent weakness. The total number of new 52-week lows expanded and outnumbered new 52-week highs on both exchanges.
PICTURED: The Nasdaq Composite Index chart shows the severity of the recently noted correction after the index sank below its 50-day and 200-day moving average (DMA) lines. Tuesday's session marked Day 5 of a new rally attempt. Provided that the Day 1 session lows are not violated, investors may be looking for a valid follow-through day to possibly signal a new "confirmed rally" at some point. Follow-through days require at least one of the major averages to post a solid gain +1.4% gain or more on higher volume, and the gain must be coupled with an expansion in leadership (stocks hitting new 52-week highs).
Keep in mind, for a market environment to be considered technically "healthy" at least 2 of the 3 major indices should be trading above their respective 200-day moving average (DMA) lines. The market correction (M criteria) grew worrisome as all of the major indices dove below their respective 200-day moving average (DMA) lines. A lot of recovery work must be done to get the indices back into "healthy" shape, and that improvement could require some considerable time and patience.
Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. This is precisely how the fact-based investment system prompts investors to reduce exposure in weak markets, preserving cash until another confirmed rally marked by solid leadership.
The major averages retreated amid heightened concern over Chinese growth. Markets from Europe to Asia sold off after a gauge of manufacturing activity in China fell to the lowest level in three years. On our shores, ISM numbers showed that U.S. factories expanded at the slowest pace since 2013. Separate releases showed an encouraging growth in factory orders and a continued decline in exports.
All ten sectors in the S&P 500 finished more than 2% lower. Financials and energy stocks were the worst performers while consumer staples was the most resilient sector.
In corporate news, SunEdison (SUNE +3.46%) rose on news that Point72 Asset Management has taken a 5.1% stake in the company. Apple (AAPL -4.47%) fell after reports that the company intends to enter the original content space. Netflix (NFLX -8.03%) fell in sympathy with the news.
Treasuries gained strength as investors moved to perceived “safe haven” assets. The 10-benchmark year note finished up 16/32 to yield 2.16%.
Commodities were mixed. After a three-day rally of more than 20%, WTI crude slid 8.5% to $45.01/barrel. COMEX gold was up 0.7 % to $1139.50/ounce. In Forex, the dollar lost significant ground to the yen and euro.
The number of stocks currently listed to the Featured Stocks Page has waned based on deteriorating market conditions. The most current notes with headline links help members have access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Retail, Tech, and Commodity-Linked Groups Sank
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -3.01%) slumped badly and financial shares were a negative influence on the major averages as the Broker/Dealer Index ($XBD -3.43%) and the Bank Index ($BKX -4.29%) fell hard again on Tuesday. The tech sector was punished as the Biotechnology Index ($BTK -2.69%), Semiconductor Index ($SOX -3.42%), and the Networking Index ($NWX -2.58%) suffered unanimous losses. Energy-linked groups were down hardest as the Oil Services Index ($OSX -3.77%) and the Integrated Oil Index ($XOI -3.91%) both sank again. The Gold & Silver Index ($XAU -3.34%) also fell.
PICTURED: The Broker/Dealer Index ($XBD -3.43%) is slumping again and remains well below its 200 DMA line.
PICTURED: The Bank Index ($BKX -4.29%) failed to rebound above its 200 DMA line and it is slumping again. Longtime readers of this commentary may remember that weak action from financial shares hurts the broader market outlook because financial stocks have a history of being reliable "leading indicators".
| Oil Services |
$OSX |
177.39 |
-6.94 |
-3.76% |
-15.88% |
| Integrated Oil |
$XOI |
1,098.85 |
-44.76 |
-3.91% |
-18.49% |
| Semiconductor |
$SOX |
590.12 |
-20.92 |
-3.42% |
-14.09% |
| Networking |
$NWX |
363.58 |
-9.63 |
-2.58% |
+1.57% |
| Broker/Dealer |
$XBD |
170.50 |
-6.05 |
-3.43% |
-7.66% |
| Retail |
$RLX |
1,158.02 |
-35.90 |
-3.01% |
+12.13% |
| Gold & Silver |
$XAU |
46.81 |
-1.62 |
-3.35% |
-31.94% |
| Bank |
$BKX |
69.45 |
-3.11 |
-4.29% |
-6.48% |
| Biotech |
$BTK |
3,696.13 |
-102.06 |
-2.69% |
+7.47% |
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Needs Rebound Above 50-Day Average For Outlook to Improve
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Ulta Salon Cosmetics & Fragrance, Inc. (ULTA -$4.33 or -2.74% to $153.76) found prompt support after undercutting its 200-day moving average (DMA) line on 8/24/15 amid broad market (M criteria) weakness, however it is slumping back toward that important long-term average. It met resistance at its 50 DMA line ($163.58) in the interim. A rebound above the 50 DMA line is needed for its outlook to improve.
ULTA was last shown with an annotated graph in this FSU section on 8/13/15 under the headline, "Recent Gains Have Still Lacked Substantial Volume Conviction". It tallied a gain on 8/18/15 with solid +54% above average volume, but it stalled immediately afterward and soon triggered technical sell signals. It made limited headway since highlighted in yellow with pivot point cited based on its 4/24/15 high plus 10 cents in the 5/29/15 mid-day report (read here).
It reported earnings +34%, +26%, +22%, and +35% in the Jul '14, Oct '14, Jan '15 and Apr '15 quarterly comparisons, respectively. Its strong earnings have been underpinned by steady sales revenues increases in the +21-22% range during that span of time. In 3 of the past 4 quarterly comparisons results have now been above the +25% minimum earnings guideline (C criteria).
Its solid annual earnings (A criteria) history is very reassuring. It has a small supply (S criteria) of only 62.9 million shares in the public float. The number of top-rated funds with an ownership interest has grown from 566 funds in Jun '14 to 804 funds as of Jun '15, which is a very encouraging sign of increasing institutional interest (the I criteria).
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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 |
BOFI
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NASDAQ
B O F I Holding Inc
BANKING - Savings andamp; Loans
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$109.56
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-6.28
-5.42% |
$114.00
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456,921
169.23% of 50 DAV
50 DAV is 270,000
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$134.79
-18.72%
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6/10/2015
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$101.47
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PP = $97.78
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MB = $102.67
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Most Recent Note - 9/1/2015 5:38:16 PM
G - Violated its 50 DMA line triggering a technical sell signal during its streak of damaging volume-driven losses. It is extended from any sound base. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Hovering Near Highs Very Extended From Sound Base - 8/20/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
AHS
-
NYSE
A M N Healthcare Svcs
DIVERSIFIED SERVICES - Staffing and Outsourcing Service
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$32.92
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-0.68
-2.02% |
$33.07
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1,082,872
141.55% of 50 DAV
50 DAV is 765,000
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$37.25
-11.62%
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8/5/2015
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$34.50
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PP = $32.53
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MB = $34.16
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Most Recent Note - 9/1/2015 12:31:42 PM
G - Pulling back near its 50 DMA line ($32.09) with today's 3rd consecutive loss. More damaging losses would raise greater concerns, especially if slumping to a close back in the prior base.
>>> FEATURED STOCK ARTICLE : Testing Support Amid Broad Market Weakness - 8/25/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
ULTA
-
NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
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$153.76
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-4.33
-2.74% |
$156.98
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1,280,863
142.79% of 50 DAV
50 DAV is 897,000
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$176.77
-13.02%
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5/29/2015
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$155.03
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PP = $159.95
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MB = $167.95
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Most Recent Note - 9/1/2015 1:41:42 PM
G - Still sputtering below its 50 DMA line ($163.59) which recently acted as resistance. A rebound above the 50 DMA line is needed for its outlook to improve. Found prompt support after undercutting its 200 DMA line on 8/24/15 amid broad market (M criteria) weakness.
>>> FEATURED STOCK ARTICLE : Needs Rebound Above 50-Day Average For Outlook to Improve - 9/1/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
LXFT
-
NYSE
Luxoft Holding Inc Cl A
Comp Sftwr-Spec Enterprs
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$60.34
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-0.75
-1.23% |
$60.73
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265,170
93.70% of 50 DAV
50 DAV is 283,000
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$68.16
-11.47%
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5/26/2015
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$51.90
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PP = $57.40
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MB = $60.27
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Most Recent Note - 9/1/2015 5:40:41 PM
G - Sputtering near its 50 DMA line amid broad market weakness (M criteria). More damaging losses would raise greater concerns.
>>> FEATURED STOCK ARTICLE : After Shakeout a Prompt Rebound Above 50-Day Moving Average - 8/27/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
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$49.25
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-0.04
-0.08% |
$49.39
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287,092
104.40% of 50 DAV
50 DAV is 275,000
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$51.86
-5.03%
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8/12/2015
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$49.01
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PP = $45.85
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MB = $48.14
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Most Recent Note - 8/31/2015 5:39:25 PM
G - Consolidating above its "max buy" level. Found prompt support near its 50 DMA line amid recent market weakness (M criteria) which remains an overriding concern arguing against new buying efforts. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Found Support at 50-day Average Following Breakout - 8/31/2015 |
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 |
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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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