FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Thursday, September 5th, 2024

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AFTER MARKET UPDATE - THURSDAY, SEPTEMBER 5TH, 2024

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Indices				NYSE			Nasdaq
DOW	-219.22	40,755.75	-0.54%	Volume	829,502,281	-4%	Volume	5,059,362,300	-1%
NASDAQ	+43.37	17,127.66	+0.25%	Advancers	1,211	44%	Advancers	1,834	44%
S&P 500	-16.66	5,503.41	-0.30%	Decliners	1,521	56%	Decliners	2,364	56%
Russell 2000	-13.16	2,132.05	-0.61%	52 Wk Highs	204		52 Wk Highs	121
S&P 600	-7.28	1,361.66	-0.53%	52 Wk Lows	66		52 Wk Lows	145

Major Indices Were Mixed Awaiting Fresh Economic Data
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Nasdaq Composite (+0.3%) settled slightly higher while the S&P 500 settled -0.3% lower, closing below its 50-day moving average (5,506). Volume reported was lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Decliners led advancers by a 5-4 margin on the NYSE and by a 4-3 margin on the Nasdaq exchange. There were 30 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 30 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs on the Nasdaq exchange for a third consecutive session. 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 500 Index fell below its 50-day moving average (DMA) line.

The ADP Employment Change Report for August was weaker than expected while the weekly initial jobless claims report was better than expected. The revised Q2 productivity report had the right mix of an upward revision to productivity and a downward revision to unit labor costs. The ISM Services PMI for August was better than expected but little changed from July. The August Employment Situation Report is due Friday at 8:30 ET.

Eight of the 11 S&P 500 sectors settled with declines led by health care (-1.4%), industrials (-1.2%), and financials (-1.0%). The consumer discretionary (+1.4%), communication services (+0.5%), and information technology (+0.1%) sectors were alone in positive territory at the close. Tesla (TSLA +4.90%) was a winning standout after a Bloomberg report that it could introduce full self-driving technology in China and Europe, pending necessary approvals, in the first quarter of 2025. The 10-yr note yield settled four basis points lower at 3.73% and the 2-yr note yield settled two basis points lower at 3.75%.

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.

Retail , Broker/Dealer, and Networking Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.47%) and the Broker/Dealer Index ($XBD +0.92%) posted gains while the Bank Index ($BKX -0.83%) finished to the downside. The Semiconductor Index ($SOX -0.60%) and the Biotech Index ($BTK -0.29%) both suffered small losses while the Networking Index ($NWX +0.83%). Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +0.86%) rose while the Oil Services Index ($OSX -0.70%) and the Integrated Oil Index ($XOI -1.24%) ended lower.

Chart courtesy of www.stockcharts.com

PICTURED: The Broker/Dealer Index ($XBD +0.92%) and recently rebounded and traded above its prior high. It found prompt support after an abrupt slump undercut its 50-day moving average (DMA) line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	76.12	-0.54	-0.70%	-9.25%
Integrated Oil	$XOI	1,892.82	-23.79	-1.24%	+1.63%
Semiconductor	$SOX	4,742.42	-28.43	-0.60%	+13.58%
Networking	$NWX	997.89	+8.21	+0.83%	+19.82%
Broker/Dealer	$XBD	670.07	+6.11	+0.92%	+20.24%
Retail	$RLX	4,433.99	+64.32	+1.47%	+14.02%
Gold & Silver	$XAU	147.83	+1.26	+0.86%	+17.61%
Bank	$BKX	112.48	-0.94	-0.83%	+17.14%
Biotech	$BTK	5,730.59	-16.47	-0.29%	+5.75%

Following Pullback a Secondary Buy Point Exists
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Natural Grocers (NGVC +$1.16 or +4.41% to $27.47) was highlighted in yellow in the earlier mid-day report (read here) as it was noted that a valid secondary buy point exists up to 5% above the prior high since finding support near its 10 WMA line after an earlier breakout.

NGVC has an Earnings Per Share Rating of 95. Reported earnings +29% on +10% sales revenues for the Jun '24 quarter versus the year ago period, its 5th consecutive strong quarter above the +25% minimum earnings guideline (C criteria). Annual earnings growth has been steady (A criteria).

The Retail-Super/Mini Markets group is currently ranked 36th on the 197 Industry Groups list. Top-rated funds owning an interest in the company's shares rose from 177 in Sep '23 to 197 in Jun '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.9 provides an unbiased indication that its shares have been under accumulation over the past 50 days. Its small supply (S criteria) of only 22.8 million shares outstanding can contribute to greater price volatility in the event of institutional buying or selling.

Charts courtesy 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	$76.27	+0.02 0.03%	$77.22	44,132 55.86% of 50 DAV 50 DAV is 79,000	$87.13 -12.46%	6/18/2024	$71.26	PP = $75.77
								MB = $79.56
Most Recent Note - 9/3/2024 3:28:29 PM G - Pulling back today for a big loss testing its 50 DMA line ($76.86). More damaging losses would raise serious concerns. 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	$72.02	-0.33 -0.46%	$72.40	264,980 38.02% of 50 DAV 50 DAV is 697,000	$75.36 -4.43%	6/11/2024	$59.76	PP = $64.33
								MB = $67.55
Most Recent Note - 9/3/2024 3:32:39 PM G - Volume is light behind today's loss, slumping from its all-time high. Its 50 DMA line ($67.11) defines inital support to watch on pullbacks above prior highs in the $64 area. >>> FEATURED STOCK ARTICLE : Granite Contruction Closes at All-Time High - 8/30/2024 \| 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	$93.76	-0.82 -0.87%	$97.84	425,972 63.67% of 50 DAV 50 DAV is 669,000	$101.50 -7.63%	7/23/2024	$96.92	PP = $93.39
								MB = $98.06
Most Recent Note - 9/4/2024 1:22:34 PM Y - Today's volume-driven gain has it rebounding above its 50 DMA line ($91.03) helping its outlook improve and its color code is changed to yellow. Faces near-term resistance up to the $100 level. >>> 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	$165.24	-2.52 -1.50%	$168.41	492,563 64.39% of 50 DAV 50 DAV is 765,000	$177.72 -7.02%	7/26/2024	$173.08	PP = $175.82
								MB = $184.61
Most Recent Note - 9/3/2024 3:35:48 PM G - Pulling back today with below-average volume, sputtering below its 50 DMA line ($169.23) which is now downward sloping and has acted as resistance. >>> 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	$94.21	-0.14 -0.15%	$94.81	2,617,319 88.87% of 50 DAV 50 DAV is 2,945,000	$98.15 -4.01%	7/30/2024	$93.95	PP = $85.52
								MB = $89.80
Most Recent Note - 9/3/2024 3:31:27 PM G - Pulling back for a big loss today with below-average volume. Its 50 DMA ($86.90) and prior highs in the $85 area define important near-term support. >>> 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	$2,038.18	+46.59 2.34%	$2,048.05	216,241 68.00% of 50 DAV 50 DAV is 318,000	$2,064.76 -1.29%	8/5/2024	$1,793.73	PP = $1,792.15
								MB = $1,881.76
Most Recent Note - 9/3/2024 3:34:11 PM G - Pulling back today with lighter volume after hitting a new all-time high on the prior session. Prior highs define initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Pulled Back From New All-Time High - 9/3/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NGVC - NYSE Natural Grocers Retail-Super/Mini Mkts	$27.47	+1.16 4.41%	$28.31	190,834 227.18% of 50 DAV 50 DAV is 84,000	$27.60 -0.47%	9/5/2024	$27.91	PP = $27.60
								MB = $28.98
Most Recent Note - 9/5/2024 5:08:31 PM Y - Color code was changed to yellow inm the earlier mid-day report as a valid secondary buy point was noted up to 5% above the prior high since finding support near its 10 WMA line after an earlier breakout. Reported earnings +29% on +10% sales revenues for the Jun '24 quarter versus the year ago period, its 5th consecutive strong quarter above the +25% minimum earnings guideline (C criteria). Annual earnings growth has been steady. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Following Pullback a Secondary Buy Point Exists - 9/5/2024 \| 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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