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AFTER MARKET UPDATE - TUESDAY, NOVEMBER 14TH, 2023
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DOW |
+489.83 |
34,827.70 |
+1.43% |
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Volume |
1,071,674,993 |
+36% |
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Volume |
5,411,817,500 |
+24% |
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NASDAQ |
+326.64 |
14,094.38 |
+2.37% |
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Advancers |
2,559 |
91% |
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Advancers |
3,317 |
76% |
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S&P 500 |
+84.15 |
4,495.70 |
+1.91% |
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Decliners |
250 |
9% |
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Decliners |
1,048 |
24% |
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Russell 2000 |
+92.82 |
1,798.32 |
+5.44% |
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52 Wk Highs |
112 |
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52 Wk Highs |
138 |
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S&P 600 |
+60.97 |
1,174.72 |
+5.47% |
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52 Wk Lows |
18 |
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52 Wk Lows |
162 |
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Indices Rose With Signs of Greater Institutional Buying Demand
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Russell 2000 charged +5.4% higher on the day leaving the index positive for the year (+2.1%). The S&P 500 rose +1.9% as the major indices all closed with sizable gains, ending near their highs of the day. Heavier than average volume, up from the prior session on the NYSE and on the Nasdaq exchange, was a sign of increasing buying demand from the institutional crowd. Advancers led decliners by a decisive 10-1 margin on the NYSE and 3-1 on the Nasdaq exchange. There were 86 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 60 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows totals still outnumbered new highs 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 Nasdaq Composite Index gapped up and posted a big gain on higher volume, rebounding near its September 1st high. All 11 S&P 500 sectors posted gains. The rate-sensitive real estate sector (+5.3%) led the pack followed by utilities (+3.9%) and consumer discretionary (+3.3%). The energy sector (+0.5%) saw the slimmest gain. Home Depot (HD +5.40%) was an individual standout after reporting Q3 results.
Bullish action came along with a sharp drop in rates on the heels of the better-than-expected October Consumer Price Index (CPI). Total CPI was unchanged month-over-month and up 3.2% year-over-year versus 3.7% in September. Core CPI, which excludes food and energy, was up 0.2% month-over-month and up 4.0% year-over-year versus 4.1% in September.
The 2-yr note yield settled 22 basis points lower at 4.82%. The 10-yr note yield declined 19 basis points from yesterday to 4.44%. The fed funds futures market priced out the probability of any additional rate hikes by the Fed, and now sees a 65.4% probability of the first rate cut in May 2024.
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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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Gains Led by Financial, Tech, Retail, and Gold & Silver Indexes
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +2.73%), Bank Index ($BKX +4.67%), and the Broker/Dealer Index ($XBD +2.11%) each posted a solid gain. The tech sector had a positive bias as the Semiconductor Index ($SOX +3.62%), Networking Index ($NWX +5.05%), and the Biotech Index ($BTK +2.78%) posted unanimous gains. Commodity-linked groups rounded out the widely positive session as the Gold & Silver Index ($XAU +5.06%), Integrated Oil Index ($XOI +0.90%), and the Oil Services Index ($OSX +2.11%) each ended higher.
PICTURED: The Gold & Silver Index ($XAU +5.06%) rebounded near its 50-day moving average (DMA) line with a big gain, decisively breaking a 6-session streak of losses toward its October low.
| Oil Services |
$OSX |
86.65 |
+1.79 |
+2.11% |
+3.32% |
| Integrated Oil |
$XOI |
1,854.60 |
+16.62 |
+0.90% |
+3.77% |
| Semiconductor |
$SOX |
3,685.57 |
+128.83 |
+3.62% |
+45.55% |
| Networking |
$NWX |
727.01 |
+34.92 |
+5.05% |
-7.19% |
| Broker/Dealer |
$XBD |
488.01 |
+10.08 |
+2.11% |
+8.66% |
| Retail |
$RLX |
3,666.23 |
+97.46 |
+2.73% |
+33.12% |
| Gold & Silver |
$XAU |
112.12 |
+5.40 |
+5.06% |
-7.23% |
| Bank |
$BKX |
81.45 |
+3.63 |
+4.67% |
-19.24% |
| Biotech |
$BTK |
4,769.69 |
+129.10 |
+2.78% |
-9.68% |
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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***
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 |
ANET
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NYSE
Arista Networks
Computer-Networking
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$215.20
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+4.92
2.34% |
$216.89
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1,741,002
80.42% of 50 DAV
50 DAV is 2,165,000
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$216.29
-0.50%
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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 - 11/14/2023 6:13:17 PM
G - Gapped up today and posted a gain with lighter than average volume while hitting a new all-time high. Prior highs in the $198 area define near-term support above its 50 DMA line ($192.46). Fundamentals remain strong.
>>> 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
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$99.21
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-1.57
-1.56% |
$99.79
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5,472,019
110.95% of 50 DAV
50 DAV is 4,932,000
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$104.00
-4.61%
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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 - 11/14/2023 6:19:37 PM
Y - Recently churning above-average volume while consolidating above its 50 DMA line ($96.17) and ending the session perched only -4.6% off its 52-week high. Subsequent gains for new highs backed by at least +40% above average volume are needed to trigger a technical buy signal.
>>> 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
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NASDAQ
Qualys
Computer Sftwr-Security
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$176.55
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+3.62
2.09% |
$177.40
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394,312
113.96% of 50 DAV
50 DAV is 346,000
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$177.40
-0.48%
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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 - 11/14/2023 6:23:55 PM
G - Posted a 4th consecutive gain today and its color code is changed to green after rising above its "max buy" level. Prior high ($165) defines initial support to watch on pullbacks.
>>> 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
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NASDAQ
Axon Enterprise
Security/Sfty
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$221.39
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+2.73
1.25% |
$223.57
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586,628
123.24% of 50 DAV
50 DAV is 476,000
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$231.71
-4.45%
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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 - 11/14/2023 6:15:00 PM
Y - Posted a 3rd consecutive small gain today with average volume. Negated the 11/08/23 gain with a big volume-driven loss raising concerns while undercutting the new pivot point cited. More damaging losses would raise greater concerns.
>>> 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 |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$996.74
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+3.59
0.36% |
$1,013.08
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335,627
135.33% of 50 DAV
50 DAV is 248,000
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$1,007.49
-1.07%
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11/9/2023
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$982.68
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PP = $940.10
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MB = $987.11
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Most Recent Note - 11/14/2023 6:26:35 PM
G - Today marked its 13th consecutive gain but it reversed and ended near the session low after trading above the $1,000 threshold. Fundamentals remain strong. Prior high ($940) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : TransDigm's Big Gap Up Gain Triggered Technical Buy Signal - 11/9/2023 |
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 |
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Max Buy |
PANW
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NASDAQ
Palo Alto Networks
Computer Sftwr-Security
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$261.17
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+5.53
2.16% |
$261.67
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4,367,428
149.83% of 50 DAV
50 DAV is 2,915,000
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$265.90
-1.78%
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11/13/2023
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$255.90
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PP = $266.00
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MB = $279.30
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Most Recent Note - 11/14/2023 6:22:08 PM
Y - Posted a 4th consecutive volume-driven gain today. New pivot point recently cited is based on its 10/13/23 high after a short flat base. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal. Due to report Oct '23 quarterly results on 11/15/23. Volume and volatility often increase near earnings news.
>>> FEATURED STOCK ARTICLE : Earnings New Due While Perched Near Prior High - 11/13/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
at any time. Questions or comments may be submitted
by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
or 954-785-1121.
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