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AFTER MARKET UPDATE - THURSDAY, OCTOBER 10TH, 2024
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DOW |
-57.88 |
42,454.12 |
-0.14% |
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Volume |
795,267,516 |
-4% |
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Volume |
5,985,705,600 |
+12% |
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NASDAQ |
-9.57 |
18,282.05 |
-0.05% |
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Advancers |
1,103 |
41% |
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Advancers |
1,716 |
40% |
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S&P 500 |
-11.99 |
5,780.05 |
-0.21% |
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Decliners |
1,585 |
59% |
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Decliners |
2,524 |
60% |
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Russell 2000 |
-12.17 |
2,188.42 |
-0.55% |
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52 Wk Highs |
88 |
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52 Wk Highs |
91 |
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S&P 600 |
-9.15 |
1,387.33 |
-0.66% |
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52 Wk Lows |
38 |
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52 Wk Lows |
167 |
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Major Indices Ended Slightly Lower With Less Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The market-cap weighted S&P 500 Index fell -0.2% while the Down Jones Industrial Average and Nasdaq Composite Index both suffered smaller losses. The volume reported was mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Breadth was negative as decliners led advancers by more than a 4-3 margin on the NYSE and on the Nasdaq exchange. There were 37 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 80 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. 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 600 Small Cap Index is consolidating above its 50-day moving average (DMA) line\.
The September Consumer Price Index report was hotter-than-expected at the headline (actual 0.2%; expected 0.1%) and core (actual 0.3%; expected 0.2%) level. The year-over-year growth rate of core-CPI increased to 3.3% from 3.2% in August and the growth rate of headline CPI slowed to 2.4% from 2.5% in August. Weekly jobless claims totaled 258,000 versus last week's count of 225,000.
Demand was high for a fresh 30-yr bond offering and the 10-yr yield settled three basis points higher at 4.10% while the 2-yr yield settled two basis points lower at 4.00%.
Oil prices rose as WTI crude oil futures settled +3.5% higher at $75.86/bbl. The S&P 500 energy sector rose (+0.8%). The only other sectors to close higher were information technology (+0.1%) and materials (+0.2%). The real estate sector (-0.9%) logged the largest decline followed by communication services (-0.6%). |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.04%) finished flat and the Bank Index ($BKX -0.23%) and Broker/Dealer Index ($XBD -0.56%) both ended with small losses. The Networking Index ($NWX -1.12%) and the Semiconductor Index ($SOX -0.53%) both ended lower while the Biotech Index ($BTK +0.25%) ended slightly higher. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +2.78%) outpaced the Oil Services Index ($OSX +0.93%) and the Integrated Oil Index ($XOI +1.13%).
PICTURED: The Integrated Oil Index ($XOI +1.13%) posted a 2nd consecutive gain, finding support at its 50-day moving average (DMA) line after slumping below its 200 DMA line.
| Oil Services |
$OSX |
80.05 |
+0.74 |
+0.93% |
-4.57% |
| Integrated Oil |
$XOI |
1,983.62 |
+21.69 |
+1.11% |
+6.50% |
| Semiconductor |
$SOX |
5,293.94 |
-27.96 |
-0.53% |
+26.79% |
| Networking |
$NWX |
1,150.77 |
-13.02 |
-1.12% |
+38.18% |
| Broker/Dealer |
$XBD |
710.57 |
-3.98 |
-0.56% |
+27.50% |
| Retail |
$RLX |
4,671.44 |
+1.99 |
+0.04% |
+20.13% |
| Gold & Silver |
$XAU |
158.77 |
+4.30 |
+2.78% |
+26.32% |
| Bank |
$BKX |
115.69 |
-0.26 |
-0.23% |
+20.49% |
| Biotech |
$BTK |
5,835.73 |
+14.75 |
+0.25% |
+7.69% |
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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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$97.60
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-0.09
-0.09% |
$97.66
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64,871
102.97% of 50 DAV
50 DAV is 63,000
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$98.61
-1.02%
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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 - 10/9/2024 5:57:06 PM
G - Hit a new all-time high with today's 4th consecutive gain backed by light volume. Prior high in the $87 area defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Above Prior Highs Near All-Time High - 10/7/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
Chart |
Request a new note
C
A
S
I |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$80.56
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-1.26
-1.54% |
$81.17
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659,137
118.55% of 50 DAV
50 DAV is 556,000
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$82.45
-2.29%
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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 - 10/9/2024 5:55:56 PM
G - Posted a gain today for a new all-time high. Its 50 DMA line ($74.33) defines initial support above the prior low in the $70 area.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TXRH
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NASDAQ
Texas Roadhouse
Retail-Restaurants
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$174.04
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-1.94
-1.10% |
$175.57
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433,031
64.63% of 50 DAV
50 DAV is 670,000
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$180.69
-3.68%
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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 - 10/8/2024 5:23:59 PM
Y - Posted a small gain today backed by lighter volume. Recently noted rebound above the 50 DMA line ($169) 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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$102.10
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-1.60
-1.54% |
$103.33
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1,459,327
60.63% of 50 DAV
50 DAV is 2,407,000
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$104.24
-2.05%
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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 - 10/10/2024 12:49:37 PM
G - Pulling back today after 4 consecutive gains with light volume as it wedged to new all-time highs. Prior highs in the $98 area and its 50 DMA ($96.14) line define important near-term support to watch.
>>> 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 |
Request a new note
C
A
S
I |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$2,040.50
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-7.49
-0.37% |
$2,059.82
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197,304
60.34% of 50 DAV
50 DAV is 327,000
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$2,161.73
-5.61%
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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 - 10/8/2024 5:25:46 PM
G - Posted a 4th consecutive small gain today with below-average volume, finding support near its 50 DMA line ($1,981). More damaging losses would raise concerns and trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line - 10/3/2024 |
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 |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$25.95
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-0.48
-1.82% |
$26.39
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53,858
57.91% of 50 DAV
50 DAV is 93,000
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$30.32
-14.41%
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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 - 10/8/2024 5:27:40 PM
G - Posted a gain today with below-average volume rebounding to its 50 DMA line ($26.25) which may act as resistance after damaging volume-driven losses. Only solid rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Near 50-Day Moving Average After Volume-Driven Losses - 10/4/2024 |
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.
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