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AFTER MARKET UPDATE - FRIDAY, OCTOBER 18TH, 2024
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DOW |
+161.35 |
43,239.05 |
+0.37% |
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Volume |
816,411,207 |
-0% |
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Volume |
5,834,758,100 |
+10% |
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NASDAQ |
+6.53 |
18,373.61 |
+0.04% |
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Advancers |
1,252 |
46% |
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Advancers |
1,887 |
45% |
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S&P 500 |
-1.00 |
5,841.47 |
-0.02% |
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Decliners |
1,483 |
54% |
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Decliners |
2,317 |
55% |
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Russell 2000 |
-5.82 |
2,280.85 |
-0.25% |
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52 Wk Highs |
257 |
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52 Wk Highs |
250 |
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S&P 600 |
-2.52 |
1,439.82 |
-0.17% |
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52 Wk Lows |
20 |
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52 Wk Lows |
63 |
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mc
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Theer. The volume reported was slightly lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Decliners led advancers by a narrow margin on the NYSE and 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 103 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 Nasdaq Composite Index is perched within close striking distance of its all-time high.
The S&P 500 (+0.4%) and Dow Jones Industrial Average (+0.1%) set fresh record highs on this winning week. The Nasdaq Composite (+0.6%) jumped more than 100 points while the Russell 2000 slid 0.2% after outperforming through the week.
A big gain in Netflix (NFLX 763.89, +76.24, +11.1%) following better-than-expected earnings results and guidance provided some support to the broader market. This price action also boosted the S&P 500 communication services sector (+0.9%), which logged the largest gain today.
The next best performing sector was real estate (+0.7%), followed by utilities (+0.6%) and information technology (+0.5%). The financial sector settled flat, weighed down by an earnings-related loss in Dow component American Express (AXP -3.2%). Shares declined despite better-than-expected Q3 EPS results and above-consensus guidance.
The only sector to register a decline was energy (-0.4%), which underperformed through the week as oil prices dropped below $70.00/bbl. WTI crude oil futures settled Friday at $68.62/bbl.
The upside bias in equities is also related to a drop in market rates following this morning's data. The Housing Starts (1.354 mln) and Building Permits (1.428 mln) report for September showed above-consensus starts coupled with some softness in permits.
The 10-yr yield settled two basis points lower at 4.07%. The 2-yr yield settled four basis points lower at 3.95%.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.73%) posted a modest gain while the Bank Index ($BKX +0.10%) and the Retail Index ($RLX +0.04%) both finished little changed. The Semiconductor Index ($SOX +0.96%) and the Networking Index ($NWX +0.36%) both finished higher but the Biotech Index ($BTK -0.69%) fell. The Gold & Silver Index ($XAU +0.97%) and the Integrated Oil Index ($XOI +0.82%) each posted gains while the Oil Services Index ($OSX -0.18%) ended slightly in the red.
PICTURED: The Semiconductor Index ($SOX +0.96%) posted a decent gain, consolidating above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
76.04 |
-1.99 |
-2.55% |
-9.34% |
| Integrated Oil |
$XOI |
1,914.51 |
-4.45 |
-0.23% |
+2.79% |
| Semiconductor |
$SOX |
5,208.62 |
+3.81 |
+0.07% |
+24.74% |
| Networking |
$NWX |
1,167.02 |
+10.19 |
+0.88% |
+40.13% |
| Broker/Dealer |
$XBD |
748.40 |
-0.52 |
-0.07% |
+34.29% |
| Retail |
$RLX |
4,749.71 |
+23.70 |
+0.50% |
+22.14% |
| Gold & Silver |
$XAU |
171.31 |
+7.63 |
+4.66% |
+36.30% |
| Bank |
$BKX |
122.53 |
-0.37 |
-0.31% |
+27.61% |
| Biotech |
$BTK |
5,953.12 |
+47.63 |
+0.81% |
+9.86% |
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Gain With Light Volume for New High Close
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Texas Roadhouse (TXRH +$1.59 or +0.87% to $183.89) rose to a new all-time high close with today's gain backed by below-average volume. It faces no resistance due to overhead supply. TXRH was highlighted in yellow with pivot point cited based on its 6/28/24 high plus 10 cents in the 7/26/24 mid-day report (read here). It was last shown in this FSU section on 9/26/24 with an annotated graph under the headline "Wedging to New Highs With Quiet Volume Behind Gains".
TXRH has a 96 Earnings Per Share Rating, well above the 80+ minimum guideline for buy candidates. It reported Jun '24 quarterly earnings +47% on +15% sales revenues versus the year-ago period. Sequential quarterly comparisons show impressive earnings growth rate acceleration. Annual earnings growth has been strong since a downturn in FY '20.
The number of top-rated funds owning its shares rose from 682 in Sep '23 to 805 in Sep '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been nearly neutral concerning accumulation/distribution over the past 50 days.
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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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$104.32
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+0.72
0.69% |
$105.02
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55,599
92.67% of 50 DAV
50 DAV is 60,000
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$103.96
0.35%
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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 - 10/17/2024 5:18:41 PM
G - Hit another new all-time high with today's gain backed by near 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 |
View all notes |
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News |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$81.85
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-0.77
-0.93% |
$82.44
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613,295
115.72% of 50 DAV
50 DAV is 530,000
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$83.28
-1.72%
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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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News |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$182.30
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-0.36
-0.20% |
$184.19
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356,664
55.21% of 50 DAV
50 DAV is 646,000
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$182.88
-0.32%
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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 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$106.21
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+0.90
0.85% |
$106.74
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2,368,440
109.20% of 50 DAV
50 DAV is 2,169,000
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$105.45
0.72%
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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 |
View all notes |
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Company Profile |
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News |
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C
A
S
I |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$2,065.87
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+19.40
0.95% |
$2,079.94
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197,644
68.15% of 50 DAV
50 DAV is 290,000
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$2,161.73
-4.43%
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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 - 10/17/2024 5:15:47 PM
G - Posted a 2nd small gain today with below-average volume, making steady progress after finding prompt support near its 50 DMA line ($2,026). 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 |
View all notes |
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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 |
|
Max Buy |
NGVC
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NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$27.76
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+0.71
2.62% |
$28.04
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62,617
70.36% of 50 DAV
50 DAV is 89,000
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$30.32
-8.44%
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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 - 10/17/2024 5:17:49 PM
G - Posted a 3rd consecutive gain today with below-average volume, making more progress above its 50 DMA line ($26.50) and rising back above the previously cited pivot point helping its outlook improve.
>>> FEATURED STOCK ARTICLE : Near 50-Day Moving Average After Volume-Driven Losses - 10/4/2024 |
View all notes |
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Company Profile |
SEC
News |
Chart |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$58.18
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-0.24
-0.41% |
$60.22
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2,117,669
108.77% of 50 DAV
50 DAV is 1,947,000
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$64.56
-9.88%
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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 |
View all notes |
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Company Profile |
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News |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$26.30
|
+0.81
3.18% |
$26.50
|
525,778
276.73% of 50 DAV
50 DAV is 190,000
|
$25.62
2.65%
|
10/17/2024
|
$26.15
|
PP = $25.31
|
|
MB = $26.58
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Most Recent Note - 10/17/2024 5:14:45 PM
Y - Finished strong after highlighted in yellow with new pivot point cited based on its 3/21/24 high plus 10 cents. Broke out above the August '24 high and rose further 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. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Paymentus Featured Breaking Out With Volume Driven Gains - 10/17/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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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