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AFTER MARKET UPDATE - MONDAY, OCTOBER 30TH, 2023
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DOW |
+511.37 |
32,928.96 |
+1.58% |
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Volume |
904,996,738 |
-4% |
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Volume |
4,172,107,000 |
-1% |
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NASDAQ |
+146.47 |
12,789.48 |
+1.16% |
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Advancers |
1,934 |
68% |
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Advancers |
2,687 |
62% |
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S&P 500 |
+49.45 |
4,166.82 |
+1.20% |
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Decliners |
898 |
32% |
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Decliners |
1,652 |
38% |
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Russell 2000 |
+10.35 |
1,647.29 |
+0.63% |
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52 Wk Highs |
15 |
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52 Wk Highs |
26 |
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S&P 600 |
+6.76 |
1,075.56 |
+0.63% |
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52 Wk Lows |
232 |
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52 Wk Lows |
419 |
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The market averages are in a correction (M criteria). New buying efforts should be avoided until a solid follow-through day signals a new confirmed rally.
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Major Indices Rose With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices closed near their best levels of the day with gains ranging from +0.7% to +1.6% on Monday's session. The volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange, revealing lackluster buying demand from the institutional crowd. Breadth was positive as advancers led decliners by more than a 2-1 margin on the NYSE and 5-3 on the Nasdaq exchange. There were 4 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 8 on the prior session. New 52-week lows totals contracted yet still solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The market averages are in a correction (M criteria). New buying efforts should be avoided until a solid follow-through day signals a new confirmed rally.
PICTURED: The Nasdaq Composite Index is quietly sputtering near its 200-day moving average (DMA) line after damaging losses on higher volume.
All 11 sectors registered gains as communication services (+2.1%) and financials (+1.7%) led the pack while the energy sector (+0.3%) saw the slimmest gain. Semiconductor stocks were a notable pocket of weakness, sliding alongside ON Semiconductor (ON -21.77%), which reported better-than-expected Q3 results, but issued disappointing Q4 guidance. Apple (AAPL +1.23%) logged a gain ahead of its earnings report due on Thursday. McDonald's (MCD +1.72%) reported impressive quarterly results. Stellantis (STLA -0.22%) and General Motors (GM +0.51%) reached tentative deals with the UAW. Healthpeak (PEAK -2.68%) and Physicians Realty Trust (DOC -0.54%) announced an all-stock merger of equals valued at approximately $21 billion.
The U.S. Treasury quarterly refunding statement showed plans to borrow $776 billion in Q4, which is $76 billion below the estimate from three months ago. The 2-yr note yield rose two basis points to 5.05% and the 10-yr note yield climbed three basis points to 4.88%.
This week includes the Bank of Japan policy decision overnight that might feature a tweak to the yield curve control policy, the ISM Manufacturing PMI on Tuesday, the FOMC decision on Wednesday, the Bank of England policy decision on Thursday, and the October Employment Situation Report and ISM Services PMI on Friday.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Financial Indexes Posted Influential Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +2.93%) posted a solid gain while the Broker/Dealer Index ($XBD +1.01%) and the Bank Index ($BKX +1.91%) also rose. The tech sector had a negative bias as the Semiconductor Index ($SOX -1.30%) and the Networking Index ($NWX -3.08%) both slumped while the Biotech Index ($BTK +0.07%) finished flat. The Gold & Silver Index ($XAU -1.19%) lost ground while the Oil Services Index ($OSX +0.06%) was unchanged and the Integrated Oil Index ($XOI +0.26%) inched higher.
PICTURED: The Networking Index ($NWX -3.08%) fell to a new 2023 low.
| Oil Services |
$OSX |
87.25 |
+0.06 |
+0.06% |
+4.05% |
| Integrated Oil |
$XOI |
1,853.26 |
+4.88 |
+0.26% |
+3.69% |
| Semiconductor |
$SOX |
3,185.18 |
-41.91 |
-1.30% |
+25.79% |
| Networking |
$NWX |
663.04 |
-21.08 |
-3.08% |
-15.35% |
| Broker/Dealer |
$XBD |
459.62 |
+4.58 |
+1.01% |
+2.34% |
| Retail |
$RLX |
3,368.04 |
+95.89 |
+2.93% |
+22.30% |
| Gold & Silver |
$XAU |
113.70 |
-1.37 |
-1.19% |
-5.92% |
| Bank |
$BKX |
73.08 |
+1.37 |
+1.91% |
-27.54% |
| Biotech |
$BTK |
4,547.76 |
+3.36 |
+0.07% |
-13.89% |
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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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