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AFTER MARKET UPDATE - WEDNESDAY, OCTOBER 16TH, 2024
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DOW |
+337.28 |
43,077.70 |
+0.79% |
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Volume |
818,288,962 |
-13% |
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Volume |
5,283,775,000 |
-19% |
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NASDAQ |
+51.49 |
18,367.08 |
+0.28% |
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Advancers |
2,105 |
77% |
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Advancers |
3,111 |
73% |
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S&P 500 |
+27.21 |
5,842.47 |
+0.47% |
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Decliners |
635 |
23% |
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Decliners |
1,130 |
27% |
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Russell 2000 |
+36.86 |
2,286.68 |
+1.64% |
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52 Wk Highs |
253 |
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52 Wk Highs |
287 |
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S&P 600 |
+19.80 |
1,442.34 |
+1.39% |
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52 Wk Lows |
14 |
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52 Wk Lows |
53 |
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Market Rose With Help from Financial Stocks on Good Earnings News
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Russell 2000 continued its recent outperformance, jumping 1.6%, bringing its weekly gain to 2.5%. The S&P 500 (+0.5%), Nasdaq Composite (+0.3%), and Dow Jones Industrial Average (+0.8%) settled with solid gains near their highs of the day. The volume reported was lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Advancers led decliners by more than a 3-1 margin on the NYSE and nearly 3-1 on the Nasdaq exchange. There were 103 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 120 on the prior session. New 52-week highs totals solidly outnumbered new 52-week lows on the NYSE and 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 500 Index reversed is perched near its all-time high.
The influential financial sector (+1.2%) played a leadership role after earnings news from Morgan Stanley (MS +6.5%), First Horizon (FHN +4.1%), and Synchrony Financial (SYF +6.1%). Rebound action in some semiconductor-related names including NVIDIA (NVDA +3.1%) and Broadcom (AVGO 176.82, +0.84, +0.5%) helped the market have a positive bias.
The 10-yr yield settled two basis points lower to 4.02% and the 2-yr yield dropped one basis point to 3.94%
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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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Financial, Networking, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.15%) and Bank Index ($BKX +1.72%) both posted gains while the Retail Index ($RLX +0.02%) again finished little changed. The Semiconductor Index ($SOX +0.21%) and the Biotech Index ($BTK -0.04%) both were little changed while the Networking Index ($NWX +0.91%) finished higher. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +0.92%), Oil Services Index ($OSX +1.32%), and the Integrated Oil Index ($XOI +0.52%) each posted gains.
PICTURED: The Broker/Dealer Index ($XBD +1.15%) is perched at its all-time high after 4 consecutive gains.
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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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$104.50
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+0.90
0.87% |
$105.02
|
15,556
25.93% of 50 DAV
50 DAV is 60,000
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$103.96
0.52%
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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 - 10/11/2024 5:15:03 PM
G - Hit another new all-time high with today's solid gain backed by +38% above-average 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 |
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C
A
S
I |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$81.90
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-0.73
-0.88% |
$82.44
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106,948
20.18% of 50 DAV
50 DAV is 530,000
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$83.28
-1.66%
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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 - 10/14/2024 6:03:49 PM
G - Perched at its all-time high after recently wedging higher. Its 50 DMA line ($75) defines initial support above the prior low in the $70 area.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 |
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C
A
S
I |
TXRH
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NASDAQ
Texas Roadhouse
Retail-Restaurants
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$182.91
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+0.25
0.13% |
$184.19
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99,341
15.38% of 50 DAV
50 DAV is 646,000
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$182.88
0.01%
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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 - 10/15/2024 2:13:20 PM
Y - Hitting a new all-time high while posting a 3rd consecutive gain today backed by below-average volume. Recently noted rebound above the 50 DMA line ($170) 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 |
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C
A
S
I |
HWM
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NYSE
Howmet Aerospace
Aerospace/Defense
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$105.87
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+0.56
0.53% |
$106.74
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482,839
22.26% of 50 DAV
50 DAV is 2,169,000
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$105.45
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 - 10/14/2024 6:04:57 PM
G - Pulled back today with +11% above average volume after it recently wedged to new all-time highs. Prior highs in the $98 area and its 50 DMA ($96.57) line define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 |
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News |
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C
A
S
I |
MELI
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NASDAQ
MercadoLibre
Retail-Internet
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$2,068.25
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+21.78
1.06% |
$2,079.94
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67,633
23.32% of 50 DAV
50 DAV is 290,000
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$2,161.73
-4.32%
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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 - 10/11/2024 5:17:01 PM
G - Posted a solid gain today with average volume, making steady progress after finding prompt support near its 50 DMA line ($2,006). Little near-term resistance remains due to overhead supply up to the $2,161 level.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line - 10/3/2024 |
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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 |
NGVC
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NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$27.46
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+0.41
1.52% |
$27.51
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11,136
12.51% of 50 DAV
50 DAV is 89,000
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$30.32
-9.43%
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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 - 10/15/2024 2:14:34 PM
G - Posting a gain today with below-average volume, making more progress above its 50 DMA line ($26.35) which recently acted as resistance after damaging volume-driven losses. The rebound helped its outlook improve, however, it remains below the previously cited pivot point.
>>> 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 |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$58.22
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-0.20
-0.34% |
$60.22
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911,574
46.82% of 50 DAV
50 DAV is 1,947,000
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$64.56
-9.82%
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10/11/2024
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$57.62
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PP = $63.59
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MB = $66.77
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Most Recent Note - 10/16/2024 1:43:03 PM
Y - Pulling back today for a 2nd loss after 9 consecutive gains marked by volume. Color code was changed to yellow with a new pivot point cited based on its 7/16/24 high plus 10 cents. Subsequent gains and strong close above the pivot point backed by at least +40% above average volume may trigger a proper new technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Celistica Hits New All-Time High With 8th Straight Gain - 10/11/2024 |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
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$26.15
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+0.66
2.57% |
$26.50
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327,052
172.13% of 50 DAV
50 DAV is 190,000
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$25.62
2.05%
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10/17/2024
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$26.15
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PP = $25.31
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MB = $26.58
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Most Recent Note - 10/17/2024 12:48:51 PM
Y - Color code is changed to yellow with new pivot point cited based on its 3/21/24 high plus 10 cents. Breaking out above the Augiust '24 high with today's 6th consecutive volume-driven gain. Rallied from support at its 200 DMA line ($20). Reported strong Mar and Jun '24 quarterly results. It was dropped from the Featured Stocks list on 5/07/24.
>>> FEATURED STOCK ARTICLE : Damaging Volume-Driven Loss After Earnings News - 5/7/2024 |
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Set NEW NOTE alert |
Company Profile |
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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.
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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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