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AFTER MARKET UPDATE - TUESDAY, OCTOBER 17TH, 2023
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DOW |
+13.11 |
33,997.65 |
+0.04% |
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Volume |
978,444,948 |
+289% |
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Volume |
4,433,300,400 |
+93% |
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NASDAQ |
-34.24 |
13,533.75 |
-0.25% |
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Advancers |
1,633 |
58% |
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Advancers |
2,413 |
57% |
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S&P 500 |
-0.43 |
4,373.20 |
-0.01% |
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Decliners |
1,173 |
42% |
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Decliners |
1,823 |
43% |
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Russell 2000 |
+18.98 |
1,766.05 |
+1.09% |
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52 Wk Highs |
47 |
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52 Wk Highs |
45 |
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S&P 600 |
+12.97 |
1,145.54 |
+1.15% |
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52 Wk Lows |
135 |
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52 Wk Lows |
191 |
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Major Indices Were Mixed While Leadership Improved
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 finished flat and the Nasdaq Composite declined 0.3%, weighed down by underperforming growth and mega cap stocks. The Russell 2000 climbed 1.1% and the S&P Mid Cap 400 rose 1.2%. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 4-3 margin on the NYSE and on the Nasdaq exchange. There were 27 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 14 on the prior session. New 52-week lows totals still solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The market averages are in an uptrend (M criteria). New buying efforts should be made only in stocks meeting all key criteria of the fact-based investment system.
PICTURED: The Dow Jones Industrial Average has rebounded above its 200-day moving average (DMA) line but remains below its 50 DMA line.
Most of the S&P 500 sectors registered a gain led by materials (+1.0%) and energy (+1.0%). The information technology sector (-0.8%) saw the biggest decline.
The September Retail Sales Report revealed that total retail sales were up +0.7% month-over-month following an upwardly revised +0.8% increase (from +0.6%) in August. Retail sales, excluding autos, were up +0.6% month-over-month following an upwardly revised +0.9% increase (from +0.6%) in August. That report fueled increased selling in Treasuries. The 2-yr note yield climbed 11 basis points to 5.20%. The 10-yr note yield settled at 4.85%, 14 basis points higher.
NVIDIA (NVDA -4.68%) was an influential laggard after news that the Biden administration will put more restrictions on China's ability to purchase advanced semiconductors, according to The Wall Street Journal. Meanwhile, Bank of America (BAC +2.33%), Goldman Sachs (GS -1.60%), Lockheed Martin (LMT +0.16%), and Johnson & Johnson (JNJ -0.91%) all reported better than expected earnings, but closed with mixed results.
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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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Commodity-Linked Groups and Financial Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Gold & Silver Index ($XAU +2.17%) and the Oil Services Index ($OSX +1.91%) both outpaced the Integrated Oil Index ($XOI +0.85%). The Bank Index ($BKX +1.70%) and Broker/Dealer Index ($XBD +0.97%) both posted influential gains that helped boost the major averages while the Retail Index ($RLX -0.37%) edged lower. The tech sector had a mostly negative bias as the Networking Index ($NWX +0.05%) finished flat while the Biotech Index ($BTK -0.16%) sputtered and the Semiconductor Index ($SOX -0.80%) lost ground.
PICTURED: The Networking Index ($NWX +0.05%) has been sputtering after recently falling to its 2023 low.
| Oil Services |
$OSX |
96.55 |
+1.81 |
+1.91% |
+15.14% |
| Integrated Oil |
$XOI |
1,972.82 |
+16.66 |
+0.85% |
+10.38% |
| Semiconductor |
$SOX |
3,474.66 |
-27.85 |
-0.80% |
+37.22% |
| Networking |
$NWX |
723.60 |
+0.35 |
+0.05% |
-7.62% |
| Broker/Dealer |
$XBD |
486.47 |
+4.66 |
+0.97% |
+8.31% |
| Retail |
$RLX |
3,423.40 |
-12.86 |
-0.37% |
+24.31% |
| Gold & Silver |
$XAU |
117.22 |
+2.49 |
+2.17% |
-3.01% |
| Bank |
$BKX |
78.66 |
+1.32 |
+1.70% |
-22.00% |
| Biotech |
$BTK |
4,990.52 |
-7.93 |
-0.16% |
-5.50% |
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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***
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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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