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AFTER MARKET UPDATE - WEDNESDAY, SEPTEMBER 2ND, 2015
Previous After Market Report Next After Market Report >>>
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DOW |
+293.03 |
16,351.38 |
+1.82% |
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Volume |
1,045,149,100 |
-7% |
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Volume |
1,780,327,810 |
-14% |
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NASDAQ |
+113.88 |
4,749.98 |
+2.46% |
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Advancers |
2,282 |
74% |
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Advancers |
2,027 |
70% |
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S&P 500 |
+35.01 |
1,948.86 |
+1.83% |
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Decliners |
790 |
26% |
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Decliners |
872 |
30% |
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Russell 2000 |
+17.98 |
1,146.03 |
+1.59% |
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52 Wk Highs |
9 |
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52 Wk Highs |
20 |
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S&P 600 |
+9.07 |
665.34 |
+1.38% |
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52 Wk Lows |
82 |
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52 Wk Lows |
48 |
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Major Averages Rose on Lighter Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks rebounded on Wednesday. The Dow was up 293 points to 16351. The S&P 500 advanced 35 points to 1948. The NASDAQ gained 113 points to 4681. Volume totals were reported lighter than the prior session on the NYSE and on the Nasdaq exchange, leaving questions about the buying conviction coming from the institutional crowd. Breadth was positive as advancers led decliners by more than a 3-1 margin on the NYSE and by 5-2 on the Nasdaq exchange. Leadership remained thin as there were only 3 stocks that made it onto the BreakOuts Page, matching the 3 high-ranked companies from the Leaders List that made a new 52-week high on the prior session. There were gains for 4 of the 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 still outnumbered new 52-week highs on both exchanges.
PICTURED: The S&P 500 Index remains below its 50-day and 200-day moving average (DMA) lines which recently crossed. Wednesday's session marked Day 6 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 trimmed weekly losses after international markets were less tumultuous overnight. In domestic news, ADP numbers showed the economy added 190,000 jobs in August, slightly missing analyst projections of 200,000. The Fed’s Beige book release showed that the economy expanded across most regions this summer on strength in the housing market and auto industry.
Nine out of ten sectors in the S&P 500 moved higher on the session. Tech stocks and industrials led the advance while utilities were the lone sector to finish in the red. Apple (AAPL +4.29%) surged higher to headline the gains.
In corporate news, H&R Block (HRB +7.50%) jumped after beating revenue estimates and posting a lower-than-expected loss. Vera Bradley (VRA +27.71%) spiked higher after a strong earnings beat and higher forward guidance. Viacom (VIA +2.36%) rose on reports of activist activity in the stock.
Treasuries declined as the “risk-on” trade took hold. The benchmark 10-year note retreated 10/32 to yield 2.19%.
Commodities were mixed. NYMEX WTI moved 1.4% higher to $46.05/barrel after a volatile trading session. COMEX gold was down 0.6% to $132.15/ounce. In FOREX, the Dollar Index was 0.5% higher with strength against the yen and euro.
The number of stocks currently listed to the Featured Stocks Page has waned based on deteriorating market conditions. The most current notes with headline links help members have access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Retail, and Financial Groups Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +2.15%) and financial shares were positive influences on the major averages as the Broker/Dealer Index ($XBD +1.20%) and the Bank Index ($BKX +1.69%) rose on Wednesday. Strength in the tech sector helped the Nasdaq Composite Index outperform is peers as the Biotechnology Index ($BTK +3.57%), Semiconductor Index ($SOX +2.31%), and the Networking Index ($NWX +1.40%) rose. Energy-linked groups were slightly positive as the Oil Services Index ($OSX +0.34%) and the Integrated Oil Index ($XOI +0.91%) posted gains. The Gold & Silver Index ($XAU -1.23%) fell.
PICTURED: The Retail Index ($RLX +2.15%) slumped back below its 50-day moving average (DMA) line after rallying from a test of support at its 200 DMA line.
| Oil Services |
$OSX |
177.99 |
+0.60 |
+0.34% |
-15.59% |
| Integrated Oil |
$XOI |
1,108.85 |
+10.00 |
+0.91% |
-17.75% |
| Semiconductor |
$SOX |
603.78 |
+13.66 |
+2.31% |
-12.10% |
| Networking |
$NWX |
368.67 |
+5.09 |
+1.40% |
+3.00% |
| Broker/Dealer |
$XBD |
172.54 |
+2.04 |
+1.20% |
-6.55% |
| Retail |
$RLX |
1,182.89 |
+24.87 |
+2.15% |
+14.54% |
| Gold & Silver |
$XAU |
46.23 |
-0.58 |
-1.24% |
-32.79% |
| Bank |
$BKX |
70.62 |
+1.17 |
+1.68% |
-4.90% |
| Biotech |
$BTK |
3,827.94 |
+131.82 |
+3.57% |
+11.31% |
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Damaging Losses Triggered Technical Sell Signal
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
B O F I Holding Inc (BOFI -$1.79 or -1.63% to $107.77) violated its 50-day moving average (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. It was last shown in this FSU section on 8/20/15 with an annotated graph under the headline, "Hovering Near Highs Very Extended From Sound Base". Worrisoe losses came after it was noted with caution - "It may produce more climactic gains, however it is very extended from its prior base. Its recent low ($111.43 on 7/29/15) defines near term support above its 50 DMA line."
It reported Jun '15 quarterly earnings +41% on +42% sales revenues, above the +25% minimum earnings guideline (C criteria) again. Earnings rose by +35%, +40%, +41%, +38%, and +35% in the Mar, Jun, Sep, Dec '14, and Mar '15 quarters, respectively, versus the year ago periods. Sales revenues were up +21%, +24%, +39%, +41%, and +41% during that span. Following a downturn in its FY '11 earnings its annual earnings (A criteria) history has been strong.
Leadership from other Finance - Savings & Loan issues has been reassuring concerning the L criteria. It has earned a Timeliness rating of A, and a Sponsorship rating of B. Keep in mind that its small supply of only 13.6 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. BOFI was highlighted in yellow with pivot point cited based on its 3/23/15 high plus 10 cents in the 6/10/15 mid-day report (read here) while noted - "It clinched a technical buy signal with a gain backed by +55% above average volume on the prior session."
The number of top-rated funds owning share rose from 261 in Sep '14 to 279 in Jun '15. However, the current Up/Down Volume Ratio of 0.9 is an unbiased indication its shares have been under distributional pressure (I criteria) over the past 50 days.
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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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$107.77
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-1.79
-1.63% |
$111.19
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786,852
288.22% of 50 DAV
50 DAV is 273,000
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$134.79
-20.05%
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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 - 9/2/2015 7:20:31 PM
G - Down again today with above average volume. Violated its 50 DMA line triggering a technical sell signal during its streak of damaging volume-driven losses. A prompt 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 : Damaging Losses Triggered Technical Sell Signal - 9/2/2015 |
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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$33.82
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+0.90
2.73% |
$33.82
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689,339
89.52% of 50 DAV
50 DAV is 770,000
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$37.25
-9.21%
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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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$158.51
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+4.75
3.09% |
$158.89
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1,041,244
114.17% of 50 DAV
50 DAV is 912,000
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$176.77
-10.33%
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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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$61.49
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+1.15
1.91% |
$61.51
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124,045
43.99% of 50 DAV
50 DAV is 282,000
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$68.16
-9.79%
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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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$50.73
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+1.48
3.01% |
$50.78
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220,211
79.50% of 50 DAV
50 DAV is 277,000
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$51.86
-2.18%
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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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