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AFTER MARKET UPDATE - WEDNESDAY, NOVEMBER 8TH, 2023
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DOW |
-40.33 |
34,112.27 |
-0.12% |
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Volume |
886,249,893 |
+0% |
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Volume |
4,739,914,200 |
+6% |
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NASDAQ |
+10.56 |
13,650.41 |
+0.08% |
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Advancers |
1,176 |
42% |
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Advancers |
1,678 |
39% |
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S&P 500 |
+4.40 |
4,382.78 |
+0.10% |
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Decliners |
1,599 |
58% |
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Decliners |
2,614 |
61% |
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Russell 2000 |
-19.08 |
1,714.07 |
-1.10% |
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52 Wk Highs |
36 |
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52 Wk Highs |
54 |
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S&P 600 |
-10.42 |
1,118.13 |
-0.92% |
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52 Wk Lows |
62 |
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52 Wk Lows |
202 |
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Major Indices were Mixed and Little Changed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices climbed off session lows in the afternoon to close mixed and little changed. The S&P 500 is up 4.5% so far in November and the Nasdaq is up 6.2% for the month. The volume total Wednesday was near the prior session on the NYSE while volume was higher on the Nasdaq exchange. Decliners led advancers by a 4-3 margin on the NYSE and by a 5-3 margin on the Nasdaq exchange. There were 30 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 24 on the prior session. New 52-week lows totals expanded and solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The major indices recently signaled a new confirmed uptrend for the market (M criteria). New buying efforts should be only made in stocks fitting all key criteria of the fact-based investment system.
PICTURED: The S&P 500 Index has rebounded above its 50-day and 200-day moving average (DMA) lines with 8 consecutive gains. The heavily-weighted information technology sector (+0.6%) led the outperformers while the energy sector (-1.2%) saw the largest decline. The afternoon improvement in the stock market was helped by mega cap leadership. Robinhood (HOOD -14.28%) ga[[ed down and eBay (EBAY -2.01%) fell following their earnings reports. Extra Space Storage (EXR +10.57%) scored a big gain following its earnings report and was among the top components in the S&P 500.
With a decent $40 billion 10-yr note sale, the 10-yr note yield settled the session at 4.52%. Growth worries added pressure on oil prices ($75.42/bbl, -1.91, -2.5%).
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Broker/Dealer, Biotech, and Commodity-Linked Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.30%) and the Bank Index ($BKX -0.36%) both edged lower while the Broker/Dealer Index ($XBD -1.26%) suffered a larger loss. The tech sector had a negative bias as the Biotech Index ($BTK -1.53%) sank and the Networking Index ($NWX -0.16%) inched lower as the Semiconductor Index ($SOX +0.03%) finished flat. Commodity-linked groups still had a negative bias as the Gold & Silver Index ($XAU -2.82%) and the Integrated Oil Index ($XOI -1.49%) outpaced the Oil Services Index ($OSX -0.55%) to the downside.
PICTURED: The Semiconductor Index ($SOX +0.03%) finished flat, holding its ground after rebounding above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
83.62 |
-0.46 |
-0.55% |
-0.29% |
| Integrated Oil |
$XOI |
1,799.55 |
-27.19 |
-1.49% |
+0.69% |
| Semiconductor |
$SOX |
3,472.67 |
+1.21 |
+0.03% |
+37.15% |
| Networking |
$NWX |
682.88 |
-1.10 |
-0.16% |
-12.82% |
| Broker/Dealer |
$XBD |
476.41 |
-6.06 |
-1.26% |
+6.07% |
| Retail |
$RLX |
3,572.99 |
-10.82 |
-0.30% |
+29.74% |
| Gold & Silver |
$XAU |
109.16 |
-3.17 |
-2.82% |
-9.68% |
| Bank |
$BKX |
78.30 |
-0.28 |
-0.36% |
-22.36% |
| Biotech |
$BTK |
4,760.23 |
-73.95 |
-1.53% |
-9.86% |
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Breakout for Axon as it Returns to Featured Stocks List
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Axon Enterprise Inc (AXON +$13.09 or +6.05% to $229.46) was highlighted in yellow with new pivot point cited based on its 10/17/23 high after a cup-with-handle base. It hit a new all-time high today and finished near the session high triggering a technical buy signal. It found support near its 200 DMA line in recent months. AXON reported Sep '23 quarterly earnings +70% on +33% sales revenues versus the year-ago period, its 4th strong quarter well above the +25% minimum earnings guideline (C criteria). Annual earnings had a slight downturn in FY '22 after years of strong growth.
The company has a small supply of only 74.8 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 400 in Sep '19 to 1,367 in Sep '23, a reassuring sign concerning the I criteria. AXON has a Timeliness Rating of A and an Accumulation/Distribution Rating of A-. |
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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 |
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Max Buy |
PLUS
-
NASDAQ
ePlus
Computer-Tech Services
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$58.33
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-5.66
-8.85% |
$63.99
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301,531
279.20% of 50 DAV
50 DAV is 108,000
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$75.90
-23.15%
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8/8/2023
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$67.60
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PP = $62.92
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MB = $66.07
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Most Recent Note - 11/8/2023 6:53:02 PM
Slumped well below its 50 DMA line today with heavy volume after it reported subpar Sep '23 quarterly results raising fundamental concerns. It will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Just Below 50-Day Moving Average and a Subpar September Report - 11/7/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
ANET
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NYSE
Arista Networks
Computer-Networking
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$209.60
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-3.00
-1.41% |
$214.99
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2,109,815
97.81% of 50 DAV
50 DAV is 2,157,000
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$216.29
-3.09%
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10/31/2023
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$188.84
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PP = $198.80
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MB = $208.74
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Most Recent Note - 11/7/2023 7:03:15 PM
G - On pullbacks the prior highs in the $198 area define near-term support above its 50 DMA line ($190.64). Paused today after 5 consecutive gains to new all-time highs. Bullish action came after it reported Sep '23 quarterly earnings +46% on +28% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Powerful Gain Following Earnings Report for Arista Networks - 10/31/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NVO
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NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$101.76
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+0.07
0.07% |
$103.25
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7,687,757
165.08% of 50 DAV
50 DAV is 4,657,000
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$104.00
-2.15%
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11/2/2023
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$100.97
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PP = $104.10
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MB = $109.31
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Most Recent Note - 11/8/2023 1:09:22 PM
Y - Churning above average volume today after recently wedging higher with gains lacking great volume conviction. Its 50 DMA line ($95.65) defines important near-term support to watch on pullbacks. Subsequent gains for new highs backed by at least +40% above average volume are needed to trigger a technical buy signal. This Denmark-based Medical - Ethical Drugs firm's shares split 2-1 on 9/20/23. Reported Sep '23 quarterly earnings +69% on +39% sales revenues versus the year-ago period, its 3rd strong quarter, well above the +25% minimum earnings guideline (C criteria). Annual earnings growth has been slow and steady.
>>> FEATURED STOCK ARTICLE : Approaching Prior High With Strong Fundamentals - 11/2/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
QLYS
-
NASDAQ
Qualys
Computer Sftwr-Security
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$167.43
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-4.75
-2.76% |
$171.99
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435,293
128.41% of 50 DAV
50 DAV is 339,000
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$172.83
-3.12%
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11/3/2023
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$167.50
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PP = $165.03
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MB = $173.28
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Most Recent Note - 11/7/2023 7:00:07 PM
Y - Hit another new all-time high with average volume today's 4th consecutive gain. Featured in yellow in the 11/03/23 mid-day report with pivot point cited based on its 10/11/23 high after a cup-with-handle base. Reported Sep '23 quarterly earnings +61% on +13% sales revenues versus the year-ago period, its 2nd strong quarterly comparison well above the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : Powerful Breakout for Qualys - 11/3/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
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$229.46
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+13.09
6.05% |
$231.71
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1,602,690
360.97% of 50 DAV
50 DAV is 444,000
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$229.95
-0.21%
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11/8/2023
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$127.84
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PP = $223.30
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MB = $234.47
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Most Recent Note - 11/8/2023 6:50:34 PM
Y - Finished strong after highlighted in yellow in the mid-day report with new pivot point cited based on its 10/17/23 high after a cup-with-handle base. Hit a new all-time high with a volume-driven gain triggering a technical buy signal. Found support near its 200 DMA line in recent months. Reported Sep '23 quarterly earnings +70% on +33% sales revenues versus the year-ago period, its 4th strong quarter well above the +25% minimum earnings guideline (C criteria). Annual earnings had a slight downturn in FY '22 after years of strong growth. See the latest FSU analysis fore mire details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Breakout for Axon as it Returns to Featured Stocks List - 11/8/2023 |
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 |
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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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