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AFTER MARKET UPDATE - TUESDAY, SEPTEMBER 10TH, 2024
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DOW |
-92.63 |
40,736.96 |
-0.23% |
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Volume |
902,072,966 |
-5% |
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Volume |
4,984,673,600 |
-4% |
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NASDAQ |
+141.28 |
17,025.88 |
+0.84% |
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Advancers |
1,422 |
52% |
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Advancers |
2,140 |
52% |
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S&P 500 |
+24.48 |
5,495.53 |
+0.45% |
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Decliners |
1,305 |
48% |
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Decliners |
2,002 |
48% |
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Russell 2000 |
-0.34 |
2,097.44 |
-0.02% |
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52 Wk Highs |
223 |
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52 Wk Highs |
133 |
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S&P 600 |
-3.98 |
1,330.97 |
-0.30% |
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52 Wk Lows |
112 |
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52 Wk Lows |
169 |
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Major Indices Were Mixed as Weak Financials Pressured Dow
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.5%) and Nasdaq Composite (+0.8%) posted gains, meanwhile the Dow Jones Industrial Average (-0.2%) lagged with a small loss. Volume reported was lighter than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was slightly positive as advancers narrowly led decliners on the NYSE and on the Nasdaq exchange. There were 27 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, matching the total of 27 on the prior session. New 52-week highs totals expanded and outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs on the Nasdaq exchange for a sixth 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.
 PICTURED: The S&P 500 Index has rebounded near its 50-day moving average (DMA) line which may now act as resistance.
The market seemed to show some hesitation in front of the presidential debate and Wednesday's release of the August Consumer Price Index. Treasuries saw the 10-yr yield drop five basis points to 3.65% as the 2-yr yield settled six basis point lower at 3.61%. A fresh $58 billion 3-yr note sale met strong demand.
JPMorgan Chase (JPM -5.19%) was the worst performer in the DJIA, followed by Goldman Sachs (GS -4.39%). The former suggested expectations for 2025 net interest income are a bit too high and the latter said it sees Q3 trading revenue tracking towards a 10% decline. Ally Financial (ALLY -17.6%) said credit challenges have intensified. Apple (AAPL -0.38%) sputtered after disclosing that it expects to record a one-time income tax charge in its fiscal Q4 of up to approximately $10 billion after losing a back-tax ruling in the EU Court of Justice.
Aside from weakness in the financial sector, the only other S&P 500 sector to lose ground was energy (-1.9%) amid falling oil prices. WTI crude oil futures sank -4.1%, or $2.81, to $65.85/bbl.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Tech Indexes Rose While Financial and Energy Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.73%) posted an influential gain while the Bank Index ($BKX -1.84%) and Broker/Dealer Index ($XBD -0.94%) both lost ground. The tech sector had a positive bias as the Semiconductor Index ($SOX +1.19%) and Networking Index ($NWX +1.89%) both posted solid gains and the Biotech Index ($BTK +0.31%) inched higher. Energy-linked groups had a negative bias as the Oil Services Index ($OSX -2.33%) and the Integrated Oil Index ($XOI -1.70%) both lost ground.
PICTURED: The Gold & Silver Index ($XAU +1.35%) posted a 2nd consecutive gain. It recently slumped back below its 50-day moving average (DMA) line. Prior lows and its 200 DMA line define the next important support to watch.
| Oil Services |
$OSX |
72.67 |
-1.73 |
-2.33% |
-13.36% |
| Integrated Oil |
$XOI |
1,838.27 |
-31.77 |
-1.70% |
-1.30% |
| Semiconductor |
$SOX |
4,680.67 |
+54.89 |
+1.19% |
+12.10% |
| Networking |
$NWX |
1,013.80 |
+18.79 |
+1.89% |
+21.73% |
| Broker/Dealer |
$XBD |
656.65 |
-6.24 |
-0.94% |
+17.83% |
| Retail |
$RLX |
4,473.01 |
+76.25 |
+1.73% |
+15.02% |
| Gold & Silver |
$XAU |
147.33 |
+1.97 |
+1.35% |
+17.22% |
| Bank |
$BKX |
109.52 |
-2.05 |
-1.84% |
+14.06% |
| Biotech |
$BTK |
5,734.59 |
+17.44 |
+0.31% |
+5.83% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
|
Max Buy |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$77.97
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+1.26
1.64% |
$78.55
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34,175
44.38% of 50 DAV
50 DAV is 77,000
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$87.13
-10.51%
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6/18/2024
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$71.26
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PP = $75.77
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MB = $79.56
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Most Recent Note - 9/9/2024 5:21:36 PM
G - Posted a 4th consecutive small gain today but it is still lingering just below its 50 DMA line ($77.23). More damaging losses would raise serious concerns. Near-term resistance remains due to overhead supply up to the $87 level.
>>> FEATURED STOCK ARTICLE : US Lime & Minerals Lingers Below 50-Day Average - 9/6/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$72.38
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+0.50
0.70% |
$72.89
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371,131
53.55% of 50 DAV
50 DAV is 693,000
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$75.36
-3.95%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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Most Recent Note - 9/9/2024 5:19:08 PM
G - Volume was light behind today's small gain, consolidating near its all-time high. Its 50 DMA line ($67.90) 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 |
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Company Profile |
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News |
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C
A
S
I |
MMYT
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NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$94.44
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+0.62
0.66% |
$97.50
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384,772
56.25% of 50 DAV
50 DAV is 684,000
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$101.50
-6.96%
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7/23/2024
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$96.92
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PP = $93.39
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MB = $98.06
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Most Recent Note - 9/10/2024 4:43:03 PM
Y - Posted a 2nd consecutive gain today with lighter than average volume. Recently retested support near its 50 DMA line ($91.91). Faces near-term resistance up to the $100 level.
>>> FEATURED STOCK ARTICLE : Reversed Into Red After Quietly Touching a New High - 8/26/2024 |
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Company Profile |
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News |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$159.84
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-1.42
-0.88% |
$162.09
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980,025
129.46% of 50 DAV
50 DAV is 757,000
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$177.72
-10.06%
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7/26/2024
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$173.08
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PP = $175.82
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MB = $184.61
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Most Recent Note - 9/9/2024 5:20:33 PM
G - Pulled back for a 3rd consecutive loss today with average volume, sputtering below its 50 DMA line ($168.58) which is now downward sloping and has acted as resistance. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> 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 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$93.15
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-0.54
-0.58% |
$94.09
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1,534,464
53.28% of 50 DAV
50 DAV is 2,880,000
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$98.15
-5.09%
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7/30/2024
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$93.95
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PP = $85.52
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MB = $89.80
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Most Recent Note - 9/9/2024 5:29:45 PM
G - Posted a big gain today with lighter volume after recent losses backed by higher volume. Its 50 DMA ($88) line defines important near-term support above prior highs in the $85 area.
>>> 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 |
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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 |
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Max Buy |
MELI
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NASDAQ
MercadoLibre
Retail-Internet
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$2,014.32
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-15.59
-0.77% |
$2,045.33
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142,571
45.26% of 50 DAV
50 DAV is 315,000
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$2,064.76
-2.44%
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8/5/2024
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$1,793.73
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PP = $1,792.15
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MB = $1,881.76
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Most Recent Note - 9/9/2024 5:22:40 PM
G - Posted a solid gain today with lighter volume, still hovering in a tight range near its all-time high. Its 50 DMA line ($1,815) and prior highs define support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pulled Back From New All-Time High - 9/3/2024 |
View all notes |
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Company Profile |
SEC
News |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$26.89
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+0.57
2.17% |
$26.94
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46,195
53.72% of 50 DAV
50 DAV is 86,000
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$28.31
-5.02%
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9/5/2024
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$27.91
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PP = $27.60
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MB = $28.98
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Most Recent Note - 9/10/2024 4:42:07 PM
Y - Posted a gain today with lighter volume. Color code was changed to yellow in the 9/05/24 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.
>>> FEATURED STOCK ARTICLE : Following Pullback a Secondary Buy Point Exists - 9/5/2024 |
View all notes |
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News |
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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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
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by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
or 954-785-1121.
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