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AFTER MARKET UPDATE - FRIDAY, NOVEMBER 11TH, 2022
Previous After Market Report Next After Market Report >>>
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DOW |
+32.49 |
33,747.86 |
+0.10% |
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Volume |
1,121,769,774 |
-6% |
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Volume |
5,806,914,100 |
-9% |
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NASDAQ |
+209.18 |
11,323.33 |
+1.88% |
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Advancers |
1,959 |
65% |
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Advancers |
3,057 |
66% |
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S&P 500 |
+36.56 |
3,992.93 |
+0.92% |
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Decliners |
1,039 |
35% |
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Decliners |
1,553 |
34% |
|
Russell 2000 |
+14.81 |
1,882.74 |
+0.79% |
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52 Wk Highs |
81 |
|
|
52 Wk Highs |
110 |
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S&P 600 |
+6.83 |
1,232.18 |
+0.56% |
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52 Wk Lows |
35 |
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52 Wk Lows |
152 |
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Major Averages Rose Capping a Week of Big Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow added 32 points and finished the week up 4.2%. The Nasdaq Composite increased 1.9% for its biggest two-day gain since 2008, while the S&P 500 gained 0.9%. This week, both indexes advanced 8.1%. and 5.9%, respectively. The volume totals reported were lighter than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by almost a 2-1 margin on the NYSE and on the Nasdaq exchange. There were 57 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 81 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows still outnumbered new highs on the Nasdaq exchange. The market is in a confirmed uptrend (M criteria). Healthy leadership (new 52-week highs totals) has continued to help the rally be productive. Only stocks meeting all key-criteria of the fact-based investment system should be considered as buy candidates.
Chart courtesy of www.stockcharts.com PICTURED: The S&P 500 Index posted gains with higher volume while rallying above its October high.
U.S. equities edged higher Friday to finish their best week since June after the October Consumer Price Index (CPI) data showed inflation may be slowing. Six of 11 sectors in the S&P 500 finished higher, with Energy pacing gains.
On the data front, University of Michigan’s consumer sentiment survey fell to 54.7 points for November, an 8.7% monthly decline and an 18.8% drop from a year ago. Short term inflation data increased to 5.1%, reaching its highest level since July, while long-term inflation gained 3% notching its highest report since June.
Treasury markets were closed today in honor of Veteran’s Day. In commodities, West Texas Intermediate (WTI) crude jumped 2.9% to $88.94/barrel after Chinese health authorities eased their COVID-19 restrictions, boosting investor confidence that economic activity and crude demand may improve. The U.S. Dollar Index plunged 1.7% against a basket of major currencies and down 3.5% this week, hitting its largest two-day fall since 2009. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Semiconductor, and Energy-Linked Groups Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +2.49%) posted an influential gain while the Bank Index ($BKX +1.00%) and Broker/Dealer Index ($XBD +0.69%) also rose. The Semiconductor Index ($SOX +3.08%) led the tech sector while the Networking Index ($NWX +0.61%) and Biotech Index ($BTK +0.29%) posted smaller gains. The Oil Services Index ($OSX +3.82%) and Integrated Oil Index ($XOI +2.89%) both outpaced the Gold & Silver Index ($XAU +0.88%). PICTURED: The Networking Index ($NWX +0.61%) rebounded above its 50-day and 200-day moving average (DMA) lines with recent gains.
| Oil Services |
$OSX |
87.43 |
+3.21 |
+3.82% |
+65.84% |
| Integrated Oil |
$XOI |
1,919.56 |
+53.92 |
+2.89% |
+62.92% |
| Semiconductor |
$SOX |
2,754.90 |
+82.39 |
+3.08% |
-30.19% |
| Networking |
$NWX |
801.59 |
+4.87 |
+0.61% |
-17.45% |
| Broker/Dealer |
$XBD |
481.97 |
+3.30 |
+0.69% |
-1.00% |
| Retail |
$RLX |
3,000.13 |
+72.95 |
+2.49% |
-29.02% |
| Gold & Silver |
$XAU |
117.40 |
+1.02 |
+0.88% |
-11.36% |
| Bank |
$BKX |
109.93 |
+1.09 |
+1.00% |
-16.86% |
| Biotech |
$BTK |
5,224.28 |
+14.94 |
+0.29% |
-5.33% |
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Griffon Perched Near 52-Week High After 9-Week Base
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Griffon Corporation (GFF +$0.52 or +1.53% to $34.40) was highlighted in yellow with new pivot point cited based on its 9/09/22 high plus 10 cents in the earlier mid-day report (read here). It is perched within close striking distance of its 52-week high after a volume-driven gain on the prior session. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
GFF was last shown in greater detail on 9/15/22 with an annotated graph under the headline, "Griffon Near All-Time High Making Limited Progress". It showed resilience since dropped from the Featured Stocks list on 9/23/22. Fresh signs of institutional buying demand, gains backed by heavier volume, would be a reassuring sign of it being capable of a meaningful advance.
Fundamentals remain strong. It is due to report Sep '22 quarterly results on 11/16/22. Volume and volatility often increase near earnings news. It has a 99 Earnings Per Share Rating. It reported Jun '22 quarterly earnings +215% on +31% sales revenues versus the year ago period, its 3rd strong quarterly comparison above the +25% minimum guideline (C criteria). Annual earnings (A criteria) growth has been strong and steady.
The company has only 57.1 million shares outstanding (S criteria) which can contribute to greater volatility in the event of institutional buying or selling. The number of top-dated funds owning its shares rose from 331 in Mar '22 to 354 in Sep '22. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under slight accumulation over the past 50 days.
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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 |
CI
-
NYSE
Cigna Corp
Medical-Managed Care
|
$303.82
|
-19.52
-6.04% |
$324.50
|
5,492,646
274.36% of 50 DAV
50 DAV is 2,002,000
|
$331.05
-8.23%
|
7/7/2022
|
$276.55
|
PP = $273.68
|
|
MB = $287.36
|
Most Recent Note - 11/11/2022 12:12:04 PM
G - Violating its 50 DMA line ($297.53) with today's big volume-driven loss triggering a technical sell signal. Reported Sep '22 quarterly earnings +5% on +2% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Cigna Reported Earnings Perched at High - 11/3/2022 |
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C
A
S
I |
ESQ
-
NASDAQ
Esquire Financial Hldgs
Finance-Commercial Loans
|
$43.66
|
-1.43
-3.17% |
$45.49
|
22,517
80.42% of 50 DAV
50 DAV is 28,000
|
$45.61
-4.27%
|
10/18/2022
|
$40.02
|
PP = $39.95
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|
MB = $41.95
|
Most Recent Note - 11/11/2022 3:43:35 PM
G - Pulling back today with below average volume. Prior highs in the $41 area define initial support to watch above its 50 DMA line ($40).
>>> FEATURED STOCK ARTICLE : New High With 6th Consecutive Volume-Driven Gain - 10/31/2022 |
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C
A
S
I |
CCRN
-
NASDAQ
Cross Country Healthcare
DIVERSIFIED SERVICES - Staffing and Outsourcing Service
|
$30.56
|
-2.61
-7.87% |
$33.47
|
1,352,817
147.53% of 50 DAV
50 DAV is 917,000
|
$38.68
-20.99%
|
9/9/2022
|
$27.32
|
PP = $30.61
|
|
MB = $32.14
|
Most Recent Note - 11/11/2022 3:40:27 PM
G - A damaging volume-driven loss today is undercutting its 50 DMA line ($31.54) raising concerns. Only a prompt rebound above the 50 DMA line would help its outlook improve. Prior highs in the $30.50 area define important near-term support to watch where more damaging losses would trigger a technical sell signal. Reported Sep '22 quarterly earnings +75% on +70% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Consolidating Above Prior Highs and Above 50-Day Moving Average - 11/8/2022 |
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C
A
S
I |
CMC
-
NYSE
Commercial Metals Co
METALS and MINING - Steel and Iron
|
$46.06
|
-1.83
-3.82% |
$49.41
|
1,298,485
123.43% of 50 DAV
50 DAV is 1,052,000
|
$47.94
-3.92%
|
10/14/2022
|
$41.61
|
PP = $44.45
|
|
MB = $46.67
|
Most Recent Note - 11/11/2022 3:49:33 PM
Y - Reversed into the red today after early gains hitting another new 52-week high. Its color code is changed to yellow after retreating below its "max buy" level. Fundamentals remain strong. Prior high in the $44 area defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Steel/Metal Products Firm Quietly Perched Near All Time High - 11/7/2022 |
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C
A
S
I |
VRTX
-
NASDAQ
Vertex Pharmaceuticals
Medical-Biomed/Biotech
|
$303.26
|
-7.77
-2.50% |
$309.80
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2,181,914
152.26% of 50 DAV
50 DAV is 1,433,000
|
$316.48
-4.18%
|
10/24/2022
|
$308.47
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PP = $306.05
|
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MB = $321.35
|
Most Recent Note - 11/11/2022 3:52:28 PM
Y - Showing resilience today after early weakness undercut its 50 DMA line ($295.73) which defines near-term support above recent lows in the $2987 area. Recently reported Sep '22 quarterly earnings +14% on +18% sales revenues versus the year ago period, below the +25% minimum earnings guideline raising fundamental concerns (C criteria). Annual earnings (A criteria) history has been strong.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain Triggered Technical Buy Signal - 10/24/2022 |
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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 |
GPK
-
NYSE
Graphic Packaging Hldg
CONSUMER NON-DURABLES - Packaging and Containers
|
$21.62
|
-0.87
-3.87% |
$22.69
|
7,193,987
255.83% of 50 DAV
50 DAV is 2,812,000
|
$24.07
-10.18%
|
10/25/2022
|
$22.75
|
PP = $24.17
|
|
MB = $25.38
|
Most Recent Note - 11/11/2022 3:45:58 PM
Y - Pulling back today for a 2nd consecutive loss with above average volume testing its 50 DMA line ($21.64). More damaging losses would raise concerns and trigger a technical sell signal. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Reported Sep '22 quarterly earnings +79% on +38% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Helped Outlook Improve - 10/25/2022 |
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C
A
S
I |
CBZ
-
NYSE
C B I Z Inc
Comml Svcs-Consulting
|
$47.84
|
-1.54
-3.12% |
$49.44
|
226,083
83.73% of 50 DAV
50 DAV is 270,000
|
$50.57
-5.40%
|
10/26/2022
|
$47.83
|
PP = $48.57
|
|
MB = $51.00
|
Most Recent Note - 11/11/2022 3:48:07 PM
Y - Pulling back today with lighter volume but slumping back below its pivot point. Its 50 DMA line ($45.41) and recent low define important near-term support. Recently reported Sep '22 quarterly earnings +24% on +28% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Earnings Report Due for Commercial Services and Consulting Firm - 10/26/2022 |
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C
A
S
I |
ENPH
-
NASDAQ
Enphase Energy Inc
Energy-Solar
|
$292.01
|
-17.24
-5.57% |
$319.49
|
5,068,166
126.04% of 50 DAV
50 DAV is 4,021,000
|
$324.84
-10.11%
|
10/26/2022
|
$301.55
|
PP = $324.94
|
|
MB = $341.19
|
Most Recent Note - 11/11/2022 3:42:40 PM
Y - Reversed into the red after an early gain today nearly challenged its 52-week high and pivot point. Color code was changed to yellow after 3 consecutive gains rebounding well above the 50 DMA line ($282.71) helping its outlook improve. Faces little near-term resistance due to overhead supply up to the $324 level. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Enphase Energy Rebound Above 50-Day Moving Average Helped Outlook - 10/28/2022 |
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C
A
S
I |
HRMY
-
NASDAQ
Harmony Biosciences Hldg
Medical-Biomed/Biotech
|
$56.88
|
-1.83
-3.12% |
$58.68
|
696,964
135.33% of 50 DAV
50 DAV is 515,000
|
$59.57
-4.52%
|
11/1/2022
|
$55.31
|
PP = $57.23
|
|
MB = $60.09
|
Most Recent Note - 11/11/2022 3:50:36 PM
Y - Pulling back today with near average volume. Recently consolidating above prior highs in the $57 area that define initial support to watch.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Technical Breakout After Earnings - 11/1/2022 |
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C
A
S
I |
CLH
-
NYSE
Clean Harbors Inc
Pollution Control
|
$115.56
|
-2.79
-2.36% |
$119.74
|
460,519
104.19% of 50 DAV
50 DAV is 442,000
|
$124.49
-7.17%
|
11/2/2022
|
$121.59
|
PP = $124.59
|
|
MB = $130.82
|
Most Recent Note - 11/10/2022 5:43:22 PM
Y - Today's volume-driven gain and rebound above the 50 DMA line ($116.33) helped its outlook to improve and its color code is changed to yellow. Fundamentals remain strong after reporting Sep '22 quarterly earnings +113% on +43% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Testing 50 Day Moving Average Line After Forming New Base - 11/2/2022 |
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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 |
NPO
-
NYSE
Enpro Industries Inc
Machinery-Gen Industrial
|
$121.28
|
-1.62
-1.32% |
$124.00
|
74,628
79.39% of 50 DAV
50 DAV is 94,000
|
$124.10
-2.27%
|
11/4/2022
|
$119.06
|
PP = $117.73
|
|
MB = $123.62
|
Most Recent Note - 11/10/2022 5:50:53 PM
Y - Posted a solid gain today with higher (near average) volume for another new 52-week high while challenging its "max buy" level. Reported Sep '22 quarterly earnings +65% on +34% sales revenues versus the year ago period, its 3rd strong quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it better match the winning models of the fact-based investment system. Annual earnings growth has been steady even through the pandemic.
>>> FEATURED STOCK ARTICLE : Finished Strong After Highlighted in Friday Mid-Day Report - 11/4/2022 |
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C
A
S
I |
DGII
-
NASDAQ
Digi International Inc
COMPUTER HARDWARE - Networking and Communication Dev
|
$39.89
|
+0.66
1.68% |
$40.41
|
611,893
152.97% of 50 DAV
50 DAV is 400,000
|
$42.04
-5.11%
|
11/10/2022
|
$41.82
|
PP = $40.96
|
|
MB = $43.01
|
Most Recent Note - 11/10/2022 5:38:05 PM
Y - Finished in the middle of its intra-day range after highlighted in yellow in the earlier mid-day report with pivot point cited based on its 10/31/22 high plus 10 cents. Hit a new 52-week high with today's big volume-driven gain while trying to rise from an advanced "ascending base" pattern. Subsequent gains above the pivot point are needed to confirm a proper technical buy signal. Reported Sep '22 quarterly earnings +80% versus the year ago period, its 3rd strong quarterly comparison well above the +25% minimum earnings guideline (C criteria), helping it better match the fact-based investment system's winning models. Annual earnings (A criteria) history has been strong after a downturn in FY '17-18. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Finish Below Pivot Point Leaves Disciplined Investors Waiting - 11/10/2022 |
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C
A
S
I |
GFF
-
NYSE
Griffon Corporation
MATERIALS and CONSTRUCTION - General Building Materials
|
$34.42
|
+0.54
1.59% |
$34.57
|
354,626
101.32% of 50 DAV
50 DAV is 350,000
|
$34.92
-1.43%
|
11/10/2022
|
$34.13
|
PP = $35.02
|
|
MB = $36.77
|
Most Recent Note - 11/11/2022 4:19:14 PM
Y - Highlighted in yellow in the prior mid-day report with new pivot point cited based on its 9/09/22 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Showed resilience since dropped from the Featured Stocks list on 9/23/22. Fundamentals remain strong. Due to report Sep '22 quarterly results on 11/16/22. Volume and volatility often increase near earnings news. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Griffon Perched Near 52-Week High After 9-Week Base - 11/11/2022 |
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A
S
I |
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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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