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AFTER MARKET UPDATE - WEDNESDAY, OCTOBER 26TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
+30.06 |
18,199.33 |
+0.17% |
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Volume |
863,470,290 |
+5% |
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Volume |
1,566,363,570 |
+10% |
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NASDAQ |
-33.13 |
5,250.27 |
-0.63% |
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Advancers |
1,040 |
35% |
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Advancers |
928 |
31% |
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S&P 500 |
-3.73 |
2,139.43 |
-0.17% |
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Decliners |
1,900 |
65% |
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Decliners |
2,065 |
69% |
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Russell 2000 |
-11.35 |
1,204.75 |
-0.93% |
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52 Wk Highs |
45 |
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52 Wk Highs |
56 |
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S&P 600 |
-5.41 |
727.29 |
-0.74% |
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52 Wk Lows |
46 |
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52 Wk Lows |
81 |
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Breadth Negative as Leadership Wanes Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished mostly lower on Wednesday. The Dow was up 30 points to 18199. The S&P 500 lost 3 points to 2139 and the Nasdaq Composite fell 33 points to 5250. The volume totals were reported higher than the prior session totals on the NYSE and on the Nasdaq exchange. Decliners led advancers by nearly 2-1 on the NYSE and by more than 2-1 on the Nasdaq exchange. There were 14 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 25 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. PICTURED: The Nasdaq Composite Index finished the session just below its 50-day moving average (DMA) line with a loss on higher volume.
Recent deterioration in the charts of the major averages (M criteria) and less leadership (fewer stocks hitting new highs) are signs that the uptrend is under pressure. The S&P 500 Index and the Dow Jones Industrial Average met resistance near their respective 50 DMA lines and abruptly retreated near prior lows. The Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages fluctuated in a choppy session as oil prices declined and investors digested mixed corporate earnings releases. Shares of Apple (AAPL -2.25%) fell as the tech giant posted its first year-over-year profit and revenue decline since 2001. On the data front, new home sales rose 3.1% in September, after a sharp 7.6% decline the previous month. Separately, Markit’s survey of U.S. business activity expanded to 54.8 in September.
Six of 11 sectors in the S&P 500 finished in negative territory. In earnings, Southwest Airlines (LUV -8.46%) fell with lower-than-expected growth in revenue-per-available-seat mile. Boeing (BA +4.69%) rose after the company raised its full-year revenue forecast. In the consumer space, Chipotle (CMG -9.28%) fell as comparable-store sales fell 21.9% in the quarter. Shares of Comcast (CMCSA -3.04%) was lower despite upbeat results for cable subscriptions. Mondelez International (MDLZ +3.65%) after the chocolate maker expanded distribution in China and the U.S. In Health Care, Biogen (BIIB +3.66%) rose amid strong sales of its multiple sclerosis pill Tecfidera.
Treasuries declined with the benchmark 10-year note down 8/32 to yield 1.78%. In commodities, NYMEX WTI crude lost 1.6% to $49.14/barrel. In FOREX, the Dollar Index fell 0.1%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Networking Index and Bank Index Posted Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.57%) fell modestly and the Broker/Dealer Index ($XBD -0.16%) also inched lower while the Bank Index ($BKX +0.91%) gained ground on Wednesday. The Gold & Silver Index ($XAU -2.16%) fell hardest while the Oil Services Index ($OSX -0.51%) edged lower and the Integrated Oil Index ($XOI +0.03%) finished flat. The Biotechnology Index ($BTK -0.27%) and the Semiconductor Index ($SOX -0.17%) both ended slightly lower while the Networking Index ($NWX +1.60%) posted a solid gain. Charts courtesy www.stockcharts.com
 PICTURED: The Retail Index ($RLX -0.57%) is consolidating near its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
159.04 |
-0.82 |
-0.51% |
+0.83% |
| Integrated Oil |
$XOI |
1,158.84 |
+0.37 |
+0.03% |
+8.03% |
| Semiconductor |
$SOX |
827.22 |
-1.45 |
-0.17% |
+24.68% |
| Networking |
$NWX |
400.24 |
+6.30 |
+1.60% |
+6.47% |
| Broker/Dealer |
$XBD |
171.23 |
-0.27 |
-0.16% |
-3.85% |
| Retail |
$RLX |
1,346.05 |
-7.76 |
-0.57% |
+4.88% |
| Gold & Silver |
$XAU |
85.43 |
-1.88 |
-2.15% |
+88.59% |
| Bank |
$BKX |
74.75 |
+0.67 |
+0.90% |
+2.29% |
| Biotech |
$BTK |
2,998.36 |
-8.21 |
-0.27% |
-21.38% |
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Sputtering Below 50-Day Average Ahead of Earnings News
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Patrick Industries Inc (PATK -$1.25 or -2.09% to $58.50) finished weak today as it slumped further below its 50-day moving average (DMA) line ($62.85) and undercut prior lows. Keep in mind that it is due to report Sep '16 quarterly earnings news before the open on Thursday. Volume and volatility often increase near earnings news. Earnings rose +41% on +35% sales revenues for the Jun '16 quarter, continuing its streak of quarterly comparisons steadily above the +25% minimum earnings guideline (C criteria). A small downturn in FY '13 was a flaw previously noted in its annual earnings (A criteria) history.
A new pivot point was recently cited based on its 9/06/16 high, however a rally above the 50 DMA line and convincing volume-driven gains above the pivot point are still needed to trigger a new (or add-on) technical buy signal. PATK was last shown in this FSU section on 9/28/16 with an annotated graph under the headline, "Found Support While Building on a New 'Double Bottom' Base Pattern". It was first highlighted in yellow with pivot point based on its 4/28/16 high plus 10 cents in the 5/24/16 mid-day report (read here).
Its current Up/Down Volume ratio of 1.4 is an unbiased indication that its shares were under accumulation over the past 50 days. The number of top-rated funds owning its share rose from 218 in Jun '15 to 293 in Sep '16, a reassuring trend concerning the I criteria. Its small supply of 14.3 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. |
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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 |
TDG
-
NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$271.08
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+2.96
1.10% |
$271.27
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406,481
111.67% of 50 DAV
50 DAV is 364,000
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$294.38
-7.91%
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10/25/2016
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$268.12
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PP = $269.41
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MB = $282.88
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Most Recent Note - 10/25/2016 4:53:32 PM
Y - Color code is change to yellow and a new pivot point is cited based on its 9/07/16 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. Posted a gain on above average volume today for a best-ever close. Rebounded above its 50 DMA line with volume-driven gains after issuing a Special Dividend effective 10/20/16.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Needed - 10/19/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$18.53
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-0.23
-1.23% |
$18.82
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108,102
65.12% of 50 DAV
50 DAV is 166,000
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$19.08
-2.88%
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10/10/2016
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$18.20
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PP = $18.37
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MB = $19.29
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Most Recent Note - 10/24/2016 12:17:18 PM
Y - Holding its ground near its 52-week high and near its "max buy" level after last week's big volume-driven gains above its pivot point triggered a technical buy signal. Prior highs and its 50 DMA line define near-term support in the $18 area where violations would trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Challenged 52-Week High With Another Volume-Driven Gain - 10/10/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$14.50
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-0.20
-1.36% |
$14.85
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134,823
172.85% of 50 DAV
50 DAV is 78,000
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$18.16
-20.15%
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7/26/2016
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$15.79
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PP = $15.74
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MB = $16.53
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Most Recent Note - 10/26/2016 6:29:25 PM
G - Today's 3rd consecutive damaging volume-driven loss tested its 200 DMA line ($14.09) which defines a very important support level. A rebound above the 50 DMA line ($16.20) is needed for its outlook improve.
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 9/27/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$265.74
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-3.86
-1.43% |
$268.26
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605,338
50.15% of 50 DAV
50 DAV is 1,207,000
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$272.58
-2.51%
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6/29/2016
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$182.42
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PP = $186.55
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MB = $195.88
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Most Recent Note - 10/25/2016 4:54:50 PM
G - Held its ground stubbornly and posted a gain on light volume for a best-ever close today. Repeatedly noted - "Very extended from any sound base. Its 50 DMA line defines near-term support to watch."
>>> FEATURED STOCK ARTICLE : Very Extended From Base Following Additional Gains - 10/21/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$45.18
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-0.10
-0.22% |
$45.50
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72,755
39.98% of 50 DAV
50 DAV is 182,000
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$47.72
-5.32%
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9/29/2016
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$46.12
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PP = $47.82
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MB = $50.21
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Most Recent Note - 10/24/2016 4:01:18 PM
Y - Quietly consolidating near its 50 DMA line ($45.07) and prior low ($43.50 on 9/12/16) which define near term support where violations would raise concerns and trigger technical sell signals. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Still Building on New Base Pattern - 10/25/2016 |
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 |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$58.50
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-1.25
-2.09% |
$59.85
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165,039
82.11% of 50 DAV
50 DAV is 201,000
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$69.53
-15.86%
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9/28/2016
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$64.85
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PP = $66.87
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MB = $70.21
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Most Recent Note - 10/26/2016 6:26:15 PM
G - Slumped further below its 50 DMA line today and undercut the prior low ($58.43 on 9/20/16) raising concerns. Due to report Sep '16 quarterly earnings before the open tomorrow, and volume and volatility often increase near earnings news. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Sputtering Below 50-Day Average Ahead of Earnings News - 10/26/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
PAYC
-
NYSE
Paycom Software Inc
COMPUTER SOFTWARE and SERVICES - Application Software
|
$51.73
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-0.23
-0.44% |
$52.42
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407,281
72.21% of 50 DAV
50 DAV is 564,000
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$52.93
-2.27%
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10/18/2016
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$50.25
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PP = $53.03
|
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MB = $55.68
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Most Recent Note - 10/25/2016 4:44:47 PM
Y - Mat resistance at its 52-week high today following 2 consecutive big gains backed by above average volume. Previously noted - "Subsequent volume-driven gains above its pivot point are still needed to trigger a technical buy signal. Support is defined by the recent low in the $46 area. Reported earnings +110% on +61% sales revenues for the Jun '16 quarter, and prior quarterly earnings were above the +25% minimum guideline (C criteria)."
>>> FEATURED STOCK ARTICLE : Technical Breakout Needed to Trigger a Proper Buy Signal - 10/18/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$53.56
|
-0.03
-0.06% |
$53.88
|
51,954
89.58% of 50 DAV
50 DAV is 58,000
|
$54.00
-0.81%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 10/24/2016 4:04:25 PM
Y - Touched a new high today. Gain on 10/19/16 backed by +127% above average volume helped clinch a technical buy signal. Found support after undercutting its 50 DMA line ($51.98) More damaging losses would raise concerns.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating is Under Guidelines While Perched Near Highs - 9/22/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$53.83
|
-4.00
-6.92% |
$57.45
|
686,295
421.04% of 50 DAV
50 DAV is 163,000
|
$61.87
-12.99%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
|
MB = $58.88
|
Most Recent Note - 10/26/2016 12:35:10 PM
G - Today's big volume-driven loss violated support at its Sep '15 high in the $56 area raising greater concerns and triggering a technical sell signal.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Helped Outlook - 10/20/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.79
|
-0.34
-1.25% |
$27.22
|
435,456
40.17% of 50 DAV
50 DAV is 1,084,000
|
$28.72
-6.72%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
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MB = $30.14
|
Most Recent Note - 10/24/2016 4:02:43 PM
Y - Wedging higher above its 50 DMA line ($26.56) with gains lacking volume conviction. Since highlighted in yellow with new pivot point cited based on its 9/01/16 high plus 10 cents, members were repeatedly reminded - "Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal."
>>> FEATURED STOCK ARTICLE : Gapped Up on News Being Added to S&P 600 Small Cap Index - 10/4/2016 |
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 |
|
Max Buy |
|
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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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