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AFTER MARKET UPDATE - WEDNESDAY, OCTOBER 2ND, 2024
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DOW |
+39.55 |
42,196.52 |
+0.09% |
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Volume |
899,351,160 |
-8% |
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Volume |
5,595,199,100 |
-7% |
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NASDAQ |
+14.76 |
17,925.12 |
+0.08% |
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Advancers |
1,274 |
47% |
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Advancers |
1,992 |
48% |
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S&P 500 |
+0.79 |
5,709.54 |
+0.01% |
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Decliners |
1,446 |
53% |
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Decliners |
2,167 |
52% |
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Russell 2000 |
-2.03 |
2,195.00 |
-0.09% |
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52 Wk Highs |
138 |
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52 Wk Highs |
115 |
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S&P 600 |
-6.07 |
1,396.28 |
-0.43% |
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52 Wk Lows |
27 |
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52 Wk Lows |
143 |
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Major Indices Ended Little Changed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
There was little change for the S&P 500 (+0.01%), Nasdaq Composite (+0.1%), Russell 2000 (-0.1%) and Dow Jones Industrial Average (+0.1%). The volume reported was lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Decliners led advancers by a 7-6 margin on the NYSE and by a narrower margin on the Nasdaq exchange. There were 56 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, matching the total on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs 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.
PICTURED: The Nasdaq Composite Index is consolidating after rebounding within striking distance of its all-time high.
Stocks had a muted response to the ADP Employment Change Report for September, which didn't impact the market's thinking on soft landing scenario for the economy. Payroll growth was decent (143,000), wage inflation moderated, hiring was seen in both the goods and service-providing sectors, and across all geographic regions. The consumer discretionary sector was the worst performer, closing -0.8% lower due in part to a solid loss in NIKE (NKE -6.77%), which reported fiscal Q1 results and withdrew its FY25 guidance. Humana (HUM -11.79%) was another losing standout after reporting that only 25% of its members are enrolled in 4-star plans and above, versus 94% in 2024.
The S&P 500 information technology sector (+0.6%) and the energy sector (+1.1%) closed higher. WTI crude oil futures settled 0.7% higher at $70.20/bbl.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Energy, and Broker/Dealer Indexes Posted Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.20%) inched lower and the Bank Index ($BKX -0.02%) finished flat while the Broker/Dealer Index ($XBD +0.50%) posted a modest gain. The tech sector had a positive bias as the Semiconductor Index ($SOX +1.48%) and the Networking Index ($NWX +1.46%) posted gains and the Biotech Index ($BTK +0.02%) finished flat. The Gold & Silver Index ($XAU +0.13%) inched higher and the Oil Services Index ($OSX +0.22%) and Integrated Oil Index ($XOI +0.86%) each posted small gains.
PICTURED: The Oil Services Index ($OSX +0.22%) posted a 4th consecutive small gain, rebounding toward its 50 and 200 DMA lines.
| Oil Services |
$OSX |
78.74 |
+0.17 |
+0.22% |
-6.12% |
| Integrated Oil |
$XOI |
1,941.40 |
+16.54 |
+0.86% |
+4.24% |
| Semiconductor |
$SOX |
5,099.20 |
+74.26 |
+1.48% |
+22.12% |
| Networking |
$NWX |
1,136.88 |
+16.31 |
+1.46% |
+36.51% |
| Broker/Dealer |
$XBD |
692.70 |
+3.48 |
+0.50% |
+24.30% |
| Retail |
$RLX |
4,665.35 |
-12.09 |
-0.26% |
+19.97% |
| Gold & Silver |
$XAU |
161.48 |
+0.20 |
+0.13% |
+28.48% |
| Bank |
$BKX |
112.24 |
-0.02 |
-0.02% |
+16.89% |
| Biotech |
$BTK |
5,924.14 |
+1.32 |
+0.02% |
+9.33% |
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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 |
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Max Buy |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$92.67
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-0.51
-0.55% |
$94.58
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42,124
62.87% of 50 DAV
50 DAV is 67,000
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$97.88
-5.32%
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9/17/2024
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$71.26
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PP = $87.23
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MB = $91.59
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Most Recent Note - 9/30/2024 5:18:18 PM
G - Hit another new all-time high with today's gain backed by +22% above-average volume. Prior high in the $87 area defines initial support to watch on pullbacks.
>>> 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 |
Chart |
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C
A
S
I |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$80.18
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+0.85
1.07% |
$80.54
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742,711
115.87% of 50 DAV
50 DAV is 641,000
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$81.38
-1.47%
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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 - 10/1/2024 10:29:06 PM
G - Posted a 3rd small gain today, hovering near its all-time high. Its 50 DMA line and prior low in the $70 area define important near-term support levels to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
MMYT
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NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$86.91
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-4.76
-5.19% |
$91.00
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1,809,170
280.49% of 50 DAV
50 DAV is 645,000
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$110.49
-21.34%
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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 - 10/2/2024 5:26:07 PM
Slumped further below its 50 DMA line ($95.99) with today's loss backed by heavier volume and it will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line is needed for its outlook to improve. Faces near-term resistance due to overhead supply up to the $110 area.
>>> FEATURED STOCK ARTICLE : New High After Finding Prompt Support Near 50-Day Moving Average - 9/12/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$178.23
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+1.01
0.57% |
$178.40
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531,235
72.38% of 50 DAV
50 DAV is 734,000
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$180.69
-1.36%
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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 - 10/2/2024 5:27:32 PM
Y - Managed a "positive reversal" today and closed near the session high with a gain backed by lighter volume. Recently noted rebound above the 50 DMA line ($168.71) helped its outlook to improve. Faces no resistance due to overhead supply.
>>> FEATURED STOCK ARTICLE : Wedging to New Highs With Quiet Volume Behind Gains - 9/26/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$101.29
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+0.37
0.37% |
$102.13
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1,762,708
65.09% of 50 DAV
50 DAV is 2,708,000
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$101.70
-0.40%
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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 - 9/30/2024 6:04:04 PM
G - Volume was light today as it posted a gain for a best-ever close. Its 50 DMA ($93.41) line defines important near-term support above the recent low ($90.72). See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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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$1,970.72
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-95.40
-4.62% |
$2,015.42
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514,297
161.22% of 50 DAV
50 DAV is 319,000
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$2,161.73
-8.84%
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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 - 10/2/2024 1:58:34 PM
G - Gapped down today undercutting its prior low ($1,966) and testing its 50 DMA line ($1,954) which defines important near-term support. More damaaging losses would raise concerns and trigger a technical sell signal.
>>> 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 |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$26.51
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-2.93
-9.95% |
$28.81
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197,809
217.37% of 50 DAV
50 DAV is 91,000
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$30.32
-12.57%
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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 - 10/2/2024 2:03:17 PM
G - Pulling back abruptly for a big loss today with above-average volume undercutting its pivot point and testing its 50 DMA line ($26.18) which defines important support. More damaging losses would raise greater concerns and trigger a technical sell signal.
>>> 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 |
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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
at any time. Questions or comments may be submitted
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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