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AFTER MARKET UPDATE - TUESDAY, OCTOBER 29TH, 2024
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DOW |
-154.52 |
42,233.05 |
-0.36% |
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Volume |
902,342,227 |
+4% |
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Volume |
7,002,900,700 |
+20% |
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NASDAQ |
+145.56 |
18,712.75 |
+0.78% |
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Advancers |
876 |
32% |
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Advancers |
1,966 |
46% |
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S&P 500 |
+9.40 |
5,832.92 |
+0.16% |
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Decliners |
1,841 |
68% |
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Decliners |
2,295 |
54% |
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Russell 2000 |
-5.98 |
2,238.09 |
-0.27% |
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52 Wk Highs |
62 |
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52 Wk Highs |
140 |
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S&P 600 |
-5.82 |
1,405.96 |
-0.41% |
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52 Wk Lows |
49 |
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52 Wk Lows |
86 |
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Nasdaq Composite Index Hit New All-Time High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Nasdaq Composite reached a record close, settling +0.8% higher, and the S&P 500 rose +0.2%, meanwhile the Dow Jones Industrial Average (-0.4%) and Russell 2000 (-0.3%) both closed lower. The volume totals reported were higher than the prior session totals on the NYSE and on the Nasdaq exchange. Decliners led advancers by more than a 2-1 margin on the NYSE and by a narrower margin on the Nasdaq exchange. There were 33 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, matching the total of 33 on the prior session. New 52-week highs totals 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 posted a 4th consecutive gain and hit a new all-time high.
Treasury yields moved higher following a strong Consumer Confidence report for October but settled little changed. There was strong demand for a fresh $44 billion 7-yr note sale. The 10-yr yield settled unchanged at 4.27% and the 2-yr yield declined two basis points to 4.12%.
D.R. Horton (DHI -7.2%) closed lower after reporting results, weighing on homebuilders. Ford (F -8.4%) and Pfizer (PFE -1.4%) also fell following earnings news. Meanwhile, V.F. Corp (VFC +27.0%) and Royal Caribbean (RCL +3.2%) were earnings-related winners. Alphabet (GOOG +1.7%) was also an influential winner ahead of its earnings report due after Tuesday's close.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver, Semiconductor, and Networking Indexes Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX -0.43%) edged lower and the Broker/Dealer Index ($XBD +0.16%) eked out a small gain. The Retail Index ($RLX +0.27%) also edged higher. The Semiconductor Index ($SOX +2.31%) posted a standout gain and the Networking Index ($NWX +1.74%) followed, but the Biotech Index ($BTK +0.39%) posted a smaller gain. The Oil Services Index ($OSX -1.22%) and the Integrated Oil Index ($XOI -1.96%) both lost ground, meanwhile, the Gold & Silver Index ($XAU +1.64%) posted a solid gain.
PICTURED: The Networking Index ($NWX +1.74%) posted a gain, nearly challenging its 2024 high.
| Oil Services |
$OSX |
73.69 |
-0.91 |
-1.22% |
-12.14% |
| Integrated Oil |
$XOI |
1,834.68 |
-36.65 |
-1.96% |
-1.49% |
| Semiconductor |
$SOX |
5,332.17 |
+120.51 |
+2.31% |
+27.70% |
| Networking |
$NWX |
1,170.05 |
+20.03 |
+1.74% |
+40.49% |
| Broker/Dealer |
$XBD |
759.35 |
+1.38 |
+0.18% |
+36.26% |
| Retail |
$RLX |
4,691.28 |
+12.80 |
+0.27% |
+20.64% |
| Gold & Silver |
$XAU |
168.66 |
+2.73 |
+1.64% |
+34.19% |
| Bank |
$BKX |
122.81 |
-0.52 |
-0.43% |
+27.90% |
| Biotech |
$BTK |
5,845.41 |
+22.84 |
+0.39% |
+7.87% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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 - NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag | $106.95 | +0.53
0.50% | $108.50 | 67,898
121.25% of 50 DAV
50 DAV is 56,000 | $106.93
0.02%
| 9/17/2024 | $71.26 | PP = $87.23 | | MB = $91.59 |  Most Recent Note - 10/29/2024 5:22:34 PM
G - Posted a 4th consecutive gain today backed by average volume for a new all-time high. Its 50 DMA line ($91) and prior high in the $87 area define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Hovering Above Prior Highs Near All-Time High - 10/7/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | GVA - NYSE
Granite Construction
Bldg-Heavy Construction | $82.53 | +0.35
0.43% | $82.57 | 426,954
72.86% of 50 DAV
50 DAV is 586,000 | $84.10
-1.87%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 | Most Recent Note - 10/29/2024 5:23:24 PM
G - Volume totals have been cooling while hovering near its all-time high. Its 50 DMA line ($77.91) defines initial support to watch on pullbacks.
>>> 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 - NASDAQ
Texas Roadhouse
Retail-Restaurants | $193.18 | +5.07
2.70% | $193.23 | 907,330
131.69% of 50 DAV
50 DAV is 689,000 | $189.97
1.69%
| 7/26/2024 | $173.08 | PP = $175.82 | | MB = $184.61 | Most Recent Note - 10/25/2024 12:28:26 PM
Y - Gapped up today hitting new all-time highs near its "max buy" level with a 2nd consecutive gain backed by heavy volume. Faces no resistance due to overhead supply. Prior highs in the $177-180 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for New High Close - 10/18/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | HWM - NYSE
Howmet Aerospace
Aerospace/Defense | $100.09 | -2.29
-2.24% | $101.22 | 2,748,962
129.36% of 50 DAV
50 DAV is 2,125,000 | $106.93
-6.40%
| 7/30/2024 | $93.95 | PP = $85.52 | | MB = $89.80 | Most Recent Note - 10/24/2024 6:58:29 PM
G - Pulled back further from its all-time high with today''s loss. Slumped near prior highs in the $98 area which coincide with its 50 DMA defining 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 | $2,026.57 | -29.52
-1.44% | $2,075.68 | 272,016
101.50% of 50 DAV
50 DAV is 268,000 | $2,161.73
-6.25%
| 8/5/2024 | $1,793.73 | PP = $1,792.15 | | MB = $1,881.76 | Most Recent Note - 10/28/2024 10:04:54 PM
G - Posted a small gain today with average volume. Recently finding support near its 50 DMA line ($2,047). 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 | 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 | $27.58 | +0.38
1.40% | $27.58 | 40,848
48.63% of 50 DAV
50 DAV is 84,000 | $30.32
-9.04%
| 9/5/2024 | $27.91 | PP = $27.60 | | MB = $28.98 | Most Recent Note - 10/28/2024 10:03:36 PM
G -Posted a gain today with below average volume, still consolidating near its 50 DMA line ($26.91) which has been acting as support after it slumped back below the previously cited pivot point raising concerns.
>>> 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 | CLS - NYSE
Celestica
Elec-Contract Mfg | $69.96 | -0.34
-0.48% | $70.39 | 2,073,236
97.89% of 50 DAV
50 DAV is 2,118,000 | $70.72
-1.07%
| 10/11/2024 | $57.62 | PP = $63.59 | | MB = $66.77 | Most Recent Note - 10/25/2024 12:07:10 PM
G - Reported Sep '24 quarterly earnings +60% on +22% sales revenues versus the year ago period. Rising further and its color code is changed to green today after a gap up on the prior session, rallying to new all-time highs. A strong close above the pivot point backed by at least +40% above average volume may clinch 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 | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | PAY - NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr | $24.73 | +0.37
1.52% | $25.05 | 181,877
88.72% of 50 DAV
50 DAV is 205,000 | $27.06
-8.61%
| 10/17/2024 | $26.15 | PP = $25.31 | | MB = $26.58 | Most Recent Note - 10/24/2024 6:57:14 PM
Y - Posted a gain today with near average volume, halting its slide near prior highs in the $25 area.
>>> 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 | Request a new note C A S I | RMD - NYSE
ResMed
Medical-Products | $244.40 | -2.43
-0.98% | $250.09 | 1,442,988
140.78% of 50 DAV
50 DAV is 1,025,000 | $260.49
-6.18%
| 10/25/2024 | $256.64 | PP = $255.28 | | MB = $268.04 | Most Recent Note - 10/28/2024 10:02:00 PM
Y - Loss today with above average volume negated Friday''s breakout raising concerns. Its color code was changed to yellow in Friday''s mid-day report with pivot point cited based on its 9/09/24 high plus 10 cents. Reported earnings +34% on +31% sales revenues for the Sep '24 quarter versus the year-ago period, its 3rd strong comparison above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been steady. See the latest FSU analysis for more details and a new annotatewd graph.
>>> FEATURED STOCK ARTICLE : ResMed Negated Friday''s Breakout Raising Concerns - 10/28/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I |
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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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