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AFTER MARKET UPDATE - MONDAY, NOVEMBER 4TH, 2024
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DOW |
-257.59 |
41,794.60 |
-0.61% |
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Volume |
889,530,643 |
+1% |
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Volume |
5,833,807,900 |
-2% |
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NASDAQ |
-59.93 |
18,179.98 |
-0.33% |
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Advancers |
1,627 |
59% |
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Advancers |
2,150 |
51% |
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S&P 500 |
-16.11 |
5,712.69 |
-0.28% |
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Decliners |
1,122 |
41% |
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Decliners |
2,084 |
49% |
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Russell 2000 |
+8.90 |
2,219.03 |
+0.40% |
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52 Wk Highs |
68 |
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52 Wk Highs |
73 |
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S&P 600 |
+6.71 |
1,396.02 |
+0.48% |
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52 Wk Lows |
43 |
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52 Wk Lows |
133 |
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Major Indices Fell as Market was Indecisive Ahead of Election Day
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices closed with declines ranging from -0.3% to -0.6%. The Russell 2000 Index outperformed, closing +0.4% higher. The volume totals reported were slightly higher than the prior session total on the NYSE and slightly lower on the Nasdaq exchange. Advancers led decliners by a 4-3 margin on the NYSE but they led by a much narrower margin on the Nasdaq exchange. There were 39 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 32 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs 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.
Four of the S&P 500 sectors closed higher led by energy (+1.9%) and real estate (+1.1%). Oil prices rose ($71.48/bbl, +1.96, +2.8%) following a Wall Street Journal report that Iran is planning a "strong and complex" response against Israel. Real estate reacted favorably to a drop in market rates. The 10-yr yield dropped five basis points to 4.31% and the 2-yr yield dropped two basis points to 4.18%. There was mediocre demand for a fresh $58 billion 3-yr note auction.
NVIDIA (NVDA +0.5%) and Sherwin-Williams (SHW +4.6%) will be replacing Intel (INTC -2.9%) and Dow Inc. (DOW -2.1%) in the Dow Jones Industrial Average, effective prior to the open of trading on Friday, November 8.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy-Linked Indexes Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.37%) edged lower and the Bank Index ($BKX -1.03%) also fell, meanwhile the Broker/Dealer Index ($XBD +0.15%) inched higher. The tech sector was indecisive as the Semiconductor Index ($SOX -0.55) and Networking Index ($NWX -0.27%) both edged lower while the Biotech Index ($BTK +0.15%) eked out a tiny gain. Energy-linked groups had a positive bias as the Oil Services Index ($OSX +1.74%) and Integrated Oil Index ($XOI +1.38%) both notched solid gains. The Gold & Silver Index ($XAU -0.17%) suffered a small loss.
PICTURED: The Oil Services Index ($OSX +1.74%) posted a gain, staying above its September 2024 low, but it remains well below its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
75.01 |
+1.28 |
+1.74% |
-10.57% |
| Integrated Oil |
$XOI |
1,866.42 |
+25.45 |
+1.38% |
+0.21% |
| Semiconductor |
$SOX |
4,973.99 |
-27.43 |
-0.55% |
+19.12% |
| Networking |
$NWX |
1,167.58 |
-3.13 |
-0.27% |
+40.20% |
| Broker/Dealer |
$XBD |
750.85 |
+1.15 |
+0.15% |
+34.73% |
| Retail |
$RLX |
4,767.38 |
-17.75 |
-0.37% |
+22.59% |
| Gold & Silver |
$XAU |
159.00 |
-0.28 |
-0.17% |
+26.50% |
| Bank |
$BKX |
120.25 |
-1.25 |
-1.03% |
+25.23% |
| Biotech |
$BTK |
5,974.33 |
+8.73 |
+0.15% |
+10.25% |
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Holding Ground Following Recent Technical Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Adtalem Global Education (ATGE +$0.89 or +1.12% to $80.59) has been holding its ground since highlighted in yellow with pivot point cited based upon its 7/23/24 high plus 10 cents in the 10/30/24 mid-day report (read here). It hit new 52-week and all-time highs with a big volume-driven gain triggering a technical buy signal.
It has an Earnings Per Share Rating of 97. Bullish action came after it reported Sep '24 quarterly earnings +39% on +13% sales revenues versus the year ago period, marking its 3rd strong quarterly earnings increase above the +25% minimum guideline (C criteria). Annual earnings (A criteria) growth has been strong.
The number of top-rated funds owning its shares rose from 473 in Mar '24 to 496 in Sep '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume ratio of 1.3 is an unbiased indication its ahares have been under accumulation over the past 50 days. Its small supply of only 37.5 million shares outstanding can contribute to greater price volatiity 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 |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
|
$110.56
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+2.10
1.94% |
$110.88
|
107,931
179.89% of 50 DAV
50 DAV is 60,000
|
$114.75
-3.65%
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9/17/2024
|
$71.26
|
PP = $87.23
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MB = $91.59
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Most Recent Note - 11/4/2024 12:55:13 PM
G - Perched near its all-time high, extended from any sound base following a streak of gains. Its 50 DMA line ($93.36) defines important near-term support to watch above the prior low ($90.13 on 10/03/24).
>>> 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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$87.82
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+1.35
1.56% |
$89.11
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1,290,540
197.63% of 50 DAV
50 DAV is 653,000
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$88.67
-0.96%
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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 - 10/31/2024 1:26:39 PM
G - Reported Sep '24 quarterly earnings +19% on +14% sales revenues versus the year ago period. Gapped down today and briefly undercut its 50 DMA line ($78.42) before managing an impressive "positive reversal" and rallying to a new all-time high.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$185.41
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-2.11
-1.13% |
$187.09
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579,970
81.11% of 50 DAV
50 DAV is 715,000
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$196.29
-5.54%
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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 - 10/30/2024 2:26:23 PM
G - Color code is changed to green today while hitting new all-time highs above its "max buy" level with a 5th consecutive gain. 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 |
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News |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$99.84
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-0.19
-0.19% |
$101.05
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1,728,407
78.14% of 50 DAV
50 DAV is 2,212,000
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$106.93
-6.63%
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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 - 10/30/2024 1:11:13 PM
G - Consolidating near its 50 DMA ($99) and prior highs in the $98 area which coincide defining important near-term support to watch. More damaging losses would raise concerns and trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$2,063.70
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+8.80
0.43% |
$2,084.19
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249,322
90.66% of 50 DAV
50 DAV is 275,000
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$2,161.73
-4.53%
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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 - 11/4/2024 1:32:42 PM
G - Posting a 3rd consecutive gain today, finding support near its 50 DMA line ($2,050). 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 |
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News |
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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
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$27.45
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+0.11
0.40% |
$27.56
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85,920
104.78% of 50 DAV
50 DAV is 82,000
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$30.32
-9.47%
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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 - 11/4/2024 1:33:18 PM
G -Still consolidating near its 50 DMA line ($27.17) 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 |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$72.32
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+2.10
2.99% |
$73.18
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2,360,049
109.41% of 50 DAV
50 DAV is 2,157,000
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$71.56
1.06%
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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 - 11/4/2024 5:11:58 PM
G - Hit yet another new all-time high with today's gain backed by average volume. Stubbornly holding its ground after noted volume-driven gains. Reported Sep '24 quarterly earnings +60% on +22% sales revenues versus the year-ago period. Fundamentals remain strong. Prior highs in the $63 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Celistica Hits New All-Time High With 8th Straight Gain - 10/11/2024 |
View all notes |
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News |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$24.27
|
-0.84
-3.35% |
$25.19
|
121,235
58.29% of 50 DAV
50 DAV is 208,000
|
$27.06
-10.31%
|
10/17/2024
|
$26.15
|
PP = $25.31
|
|
MB = $26.58
|
Most Recent Note - 11/4/2024 1:34:22 PM
Y - Volume totals have been cooling while consolidating. Halted 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 |
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News |
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C
A
S
I |
RMD
-
NYSE
ResMed
Medical-Products
|
$243.61
|
-0.67
-0.27% |
$247.75
|
1,230,072
115.94% of 50 DAV
50 DAV is 1,061,000
|
$260.49
-6.48%
|
10/25/2024
|
$256.64
|
PP = $255.28
|
|
MB = $268.04
|
Most Recent Note - 11/4/2024 1:36:36 PM
Y - Consolidating above its 50 DMA line ($242.63) which defines important near-term support to watch. Damaging losses quickly negated the recent breakout.
>>> FEATURED STOCK ARTICLE : ResMed Negated Friday's Breakout Raising Concerns - 10/28/2024 |
View all notes |
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Company Profile |
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News |
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C
A
S
I |
ATGE
-
NYSE
Adtalem Global Education
Consumer Svcs-Education
|
$80.59
|
+0.89
1.12% |
$82.70
|
364,238
100.90% of 50 DAV
50 DAV is 361,000
|
$85.26
-5.48%
|
10/30/2024
|
$83.34
|
PP = $80.28
|
|
MB = $84.29
|
Most Recent Note - 11/4/2024 5:11:05 PM
Y - Holding its ground above prior highs. It was highlighted in yellow in the 10/30/24 mid-day report with pivot point citer based upon its 7/23/24 high plus 10 cents. It hit new 52-week and all-time highs with a big volume-driven gain triggering a technical buy signal. Bullish action came after it reported Sep '24 quarterly earnings +39% on +13% sales revenues versus the year ago period, marking its 3rd strong quarterly earnings increase above the +25% minimum guideline (C criteria). Annual earnings growth has been strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Holding Ground Following Recent Technical Breakout - 11/4/2024 |
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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