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AFTER MARKET UPDATE - TUESDAY, NOVEMBER 26TH, 2019
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DOW |
+55.21 |
28,121.68 |
+0.20% |
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Volume |
1,560,484,860 |
+90% |
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Volume |
2,395,710,760 |
+6% |
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NASDAQ |
+15.44 |
8,647.93 |
+0.18% |
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Advancers |
1,565 |
55% |
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Advancers |
1,520 |
49% |
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S&P 500 |
+6.88 |
3,140.52 |
+0.22% |
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Decliners |
1,302 |
45% |
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Decliners |
1,596 |
51% |
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Russell 2000 |
+2.33 |
1,624.23 |
+0.14% |
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52 Wk Highs |
147 |
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52 Wk Highs |
198 |
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S&P 600 |
+0.29 |
995.57 |
+0.03% |
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52 Wk Lows |
27 |
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52 Wk Lows |
69 |
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Major Indices Rose With Improved Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow rose 55 points, while the S&P 500 and Nasdaq Composite both added 0.2%. The major averages each rose to another all-time high, with the S&P 500 notching its 12th record closing level in less than a month. Advancers led decliners by an 8-7 margin on the NYSE but decliners narrowly outnumbered advancers on the Nasdaq exchange. Volume totals reported were higher than the prior session on both major exchanges, indicative of increasing institutional buying demand. Leadership improved as there were 77 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 71 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices (M criteria) are in a "confirmed uptrend" after enduring distributional pressure in recent weeks. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index rallied for a new record high close with a gain backed by higher volume.
US Stocks finished higher on Tuesday, as investors assessed developments on the trade front. Overnight, China’s Ministry of Commerce revealed Washington and Beijing “reached consensus on properly resolving relevant issues” during a phone conversation with top officials. Comments from President Trump that the U.S. was nearing a preliminary trade deal further boosted investor sentiment.
On the data front, an update from the Conference Board showed consumer confidence unexpectedly fell in November, sending the gauge lower for a fourth straight month. Wholesale inventories rebounded 0.2% in October from the prior month’s downwardly revised 0.7% decline. A separate release showed advance goods trade deficit narrowed in October. Another report showed new home sales dipped 0.7% in October, but the prior month’s reading was upwardly revised to a 4.5% increase, marking the best two-month pace in more than 12 years. Treasuries advanced with the yield on the 10-year note off two basis point to 1.74%.
Eight of 11 S&P 500 sectors finished in positive territory. Retail earnings remained in focus, with Best Buy (BBY +9.86%) rose following its quarterly results that included a top and bottom line beat and a boost to its full-year outlook. Dick’s Sporting Goods (DKS +18.62%) rose after its comparable-store sales jumped more than double analyst’s forecasts. Dollar Tree (DLTR -15.24%) after reporting that tariffs are expected to pressure fourth-quarter profit margins.
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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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Gold & Silver Index and Retail Index Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.81%) posted a solid gain while the Broker/Dealer Index ($XBD -0.38%) and Bank Index ($BKX -0.54%) both ended slightly lower on Tuesday. The tech sector had a negative bias as the Semiconductor Index ($SOX -0.50%) and the Networking Index ($NWX -1.24%) both lost ground and the | | | |
