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AFTER MARKET UPDATE - MONDAY, NOVEMBER 28TH, 2016
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DOW |
-54.24 |
19,097.90 |
-0.28% |
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Volume |
846,103,020 |
+113% |
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Volume |
1,451,217,710 |
+108% |
|
NASDAQ |
-30.11 |
5,368.81 |
-0.56% |
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Advancers |
997 |
34% |
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Advancers |
858 |
30% |
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S&P 500 |
-11.63 |
2,201.72 |
-0.53% |
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Decliners |
1,972 |
66% |
|
Decliners |
2,024 |
70% |
|
Russell 2000 |
-17.37 |
1,329.83 |
-1.29% |
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52 Wk Highs |
219 |
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52 Wk Highs |
304 |
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S&P 600 |
-10.18 |
815.10 |
-1.23% |
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52 Wk Lows |
14 |
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52 Wk Lows |
15 |
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Breadth Negative as Indices Fell With Higher Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Monday. The Dow was down 54 points to 19097. The S&P 500 lost 11 points to 2201 and the Nasdaq Composite fell 30 points to 5368. Volume totals on Monday were up from Friday's shortened session totals on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by a more than a 2-1 margin on the Nasdaq exchange and nearly 2-1 on the NYSE. There were 61 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 107 on the prior session. New 52-week highs totals solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.
PICTURED: The Nasdaq Composite Index pulled back from its record high.
The major averages (M criteria) are in a confirmed uptrend. New buying efforts should only be made in candidates with superior fundamental and technical characteristics. The Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages pulled back from record highs on Monday as the post-election rally eased ahead of the OPEC meeting in Vienna on Wednesday. NYMEX WTI crude added 2.2% to $47.08/barrel amid reports the Iraqi oil minister said Iraq will cooperate with other OPEC members to reach a deal to curb production. On the data front, manufacturing activity in the Dallas Fed region expanded in November.
Seven of 11 sectors in the S&P 500 finished in negative territory. Financials lagged with Bank of America (BAC -2.68%) falling. Industrial shares finished lower with Boeing (BA -0.18%) edged lower amid reports the aircraft maker is the target of new World Trade Organizations sanctions. Shares of H&R Block (HRB -9.01%) fell after being the subject of negative analyst commentary. In M&A news, Time, Inc. (TIME +17.65%) rallied as the company’s board rejected a takeover bid from billionaire Edgar Bronfman Jr. Tech shares outperformed with Cognizant Technology (CTSH +6.95%) rose after hedge fund Elliott Management sent an enhancement plan to improve operations and capital allocation.
Treasuries advanced with the benchmark 10-year note up 13/32 to yield 2.31%. The 30-year bond finished 17/32 higher to yield 2.97%. In commodities, COMEX gold gained 1.1% to $1191.70/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Retail, Technology and Energy Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.05%) and the Broker/Dealer Index ($XBD -1.26%) and the Bank Index ($BKX -1.85%) each created a drag on the major indices on Monday. The Gold & Silver Index ($XAU +3.24%) was a standout gainer while the Oil Services Index ($OSX -1.90%) and the Integrated Oil Index ($XOI -1.55%) both were lower. The Biotechnology Index ($BTK -2.42%) slumped while the Semiconductor Index ($SOX -0.42%) and Networking Index ($NWX -0.99%) each suffered a smaller loss. Charts courtesy www.stockcharts.com
 PICTURED: The Oil Services Index ($OSX -1.90%) is consolidating above its 50-day and 200-day moving average (DMA) lines. It faces near-term resistance at prior highs.
| Oil Services |
$OSX |
164.44 |
-3.19 |
-1.90% |
+4.25% |
| Integrated Oil |
$XOI |
1,172.72 |
-18.45 |
-1.55% |
+9.32% |
| Semiconductor |
$SOX |
887.25 |
-3.72 |
-0.42% |
+33.73% |
| Networking |
$NWX |
433.33 |
-4.35 |
-0.99% |
+15.27% |
| Broker/Dealer |
$XBD |
201.18 |
-2.56 |
-1.26% |
+12.97% |
| Retail |
$RLX |
1,372.77 |
-14.57 |
-1.05% |
+6.96% |
| Gold & Silver |
$XAU |
81.69 |
+2.56 |
+3.24% |
+80.33% |
| Bank |
$BKX |
85.30 |
-1.61 |
-1.85% |
+16.72% |
| Biotech |
$BTK |
3,284.74 |
-81.41 |
-2.42% |
-13.88% |
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Pulling Back After Getting Extended More Than +5% Above Prior Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Ollie's Bargain Outlet (OLLI -$0.80 or -2.52% to $31.00) pulled back today for a 3rd consecutive loss on lighter than average volume since hitting a new all-time high last week. It is still above its "max buy" level. Recent gains above the pivot point lacked the +40% above average volume needed to trigger a proper technical buy signal. The Retail-Discount and Variety firm was last shown in this FSU section on 11/10/16 with an annotated graph under the headline, "Hit New High With Gain Lacking Great Volume Conviction". It was first highlighted in yellow with a pivot point based on its 9/01/16 high plus 10 cents in 10/04/16 mid-day report (read here).
The Retail - Discount & Variety industry group has also been lagging (L criteria) and currently has a very low Group Relative Strength Rating of only 13. Disciplined investors might look to find more favorable odds by choosing a leader in a high-ranked industry group. Fundamentally, it has a very strong 97 Earnings Per Share (EPS) rating. It reported earnings +50% on +16% sales revenues for the Jul '16 quarter, continuing its strong earnings track record with results above the +25% minimum earnings guideline (C criteria) for a 6th consecutive quarter. Its annual earnings (A criteria) history has been good.
OLLI completed its $16 IPO on 7/16/15. It completed a Secondary Offerings on 6/06/16 and 2/18/16. The number of top-rated funds owning its shares rose from 98 in Sep '15 to 249 in Sep '16, a reassuring sign concerning the I criteria. Its small supply of only 60.2 million shares outstanding (S criteria) can contribute to greater price volatility 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 |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$22.15
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-0.18
-0.81% |
$22.49
|
283,884
129.63% of 50 DAV
50 DAV is 219,000
|
$22.50
-1.56%
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10/10/2016
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$18.20
|
PP = $18.37
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MB = $19.29
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Most Recent Note - 11/28/2016 5:22:26 PM
G - Pulled back with above average volume today, encountering distributional pressure. It has been noted as very extended from any sound base. Its 50 DMA line and prior highs define near-term support in the $19 area.
>>> FEATURED STOCK ARTICLE : Extended From Base After Volume Driven Gains - 11/11/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$20.10
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+0.45
2.29% |
$20.65
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310,616
431.41% of 50 DAV
50 DAV is 72,000
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$19.95
0.75%
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11/23/2016
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$19.35
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PP = $18.26
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MB = $19.17
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Most Recent Note - 11/28/2016 5:25:36 PM
Y - Color code is changed to green after hitting new highs today with another volume-driven gain. Fundamentals remain strong. Prior highs in the $18 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Strength Returned for Previously Featured Leader - 11/23/2016 |
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News |
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C
A
S
I |
EVR
-
NYSE
Evercore Partners Inc
FINANCIAL SERVICES - Investment Banking
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$66.25
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-0.95
-1.41% |
$67.20
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617,604
147.75% of 50 DAV
50 DAV is 418,000
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$67.30
-1.56%
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11/14/2016
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$63.30
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PP = $60.73
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MB = $63.77
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Most Recent Note - 11/28/2016 5:30:26 PM
G - Pulled back with above average volume today, retreating from multi-year highs following a streak of 16 consecutive gains. It is very extended from its prior base.
>>> FEATURED STOCK ARTICLE : Big Volume Driven Gain Extends Winning Streak - 11/14/2016 |
View all notes |
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Company Profile |
SEC
News |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$231.78
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+4.69
2.07% |
$235.98
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1,720,200
141.93% of 50 DAV
50 DAV is 1,212,000
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$272.58
-14.97%
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6/29/2016
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$182.42
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PP = $186.55
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MB = $195.88
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Most Recent Note - 11/28/2016 12:37:53 PM
G - Posting a gain today with volume running at an above average pace. A rebound above the 50 DMA line ($248) is needed to help its outlook improve.
>>> FEATURED STOCK ARTICLE : Slump Below 50-Day Moving Average Raised Concerns - 11/17/2016 |
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News |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$51.15
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+4.14
8.81% |
$51.90
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635,321
470.61% of 50 DAV
50 DAV is 135,000
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$48.14
6.25%
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9/29/2016
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$46.12
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PP = $47.82
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MB = $50.21
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Most Recent Note - 11/28/2016 12:28:34 PM
G - Rallying to a new 52-week high and above its previously cited pivot point with above average volume behind today's gain, triggering a technical buy signal. However, it was repeatedly noted with caution during its recent consolidation - "Reported earnings +10% on +6% sales revenues for the Sep '16 quarter, below the +25% minimum earnings guideline (C criteria), raising concerns."
>>> FEATURED STOCK ARTICLE : Perched Near Highs After Finding Support Above 50-Day Average - 11/18/2016 |
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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 |
LMAT
-
NASDAQ
Lemaitre Vascular Inc
Medical-Products
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$23.48
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-0.61
-2.53% |
$24.36
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90,829
56.77% of 50 DAV
50 DAV is 160,000
|
$24.99
-6.04%
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10/27/2016
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$21.03
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PP = $22.60
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MB = $23.73
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Most Recent Note - 11/28/2016 5:27:37 PM
Y - Color code is changed to yellow after quietly pulling back today below its "max buy" level. Prior highs in the $22 area define initial support following its technical breakout. No resistance remains due to overhead supply. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Near Highs Following Recent Technical Breakout - 11/25/2016 |
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SEC
News |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$95.97
|
+1.31
1.38% |
$96.06
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620,095
90.66% of 50 DAV
50 DAV is 684,000
|
$95.47
0.52%
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11/21/2016
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$93.80
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PP = $88.66
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MB = $93.09
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Most Recent Note - 11/28/2016 5:20:56 PM
G - Hit another new all-time high today. Disciplined investors avoid chasing stocks extended more than +5% above their pivot point. Prior highs in the $88 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Heavy Volume Behind Breakout Gain - 11/21/2016 |
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News |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$71.47
|
-0.49
-0.68% |
$71.92
|
115,627
131.39% of 50 DAV
50 DAV is 88,000
|
$71.97
-0.69%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
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Most Recent Note - 11/28/2016 5:32:10 PM
G - Pulled back from its all-time high with a loss on above average volume today. Very extended from its prior base. Its 50 DMA line defines important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Very Extended From Prior Base Following Post-Election Gains - 11/22/2016 |
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News |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$31.00
|
-0.80
-2.52% |
$32.05
|
533,249
66.57% of 50 DAV
50 DAV is 801,000
|
$32.68
-5.13%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 11/28/2016 5:23:39 PM
G - Pulled back today for a 3rd consecutive loss on below average volume but it remains above its "max buy" level. Recent gains above the pivot point did not have at least +40% above average volume to trigger a proper technical buy signal. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulling Back After Getting Extended More Than +5% Above Prior Highs - 11/28/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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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.
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