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AFTER MARKET UPDATE - WEDNESDAY, JANUARY 9TH, 2019
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DOW |
+91.67 |
23,879.12 |
+0.39% |
|
Volume |
941,481,730 |
-7% |
|
Volume |
2,416,350,210 |
+2% |
|
NASDAQ |
+60.08 |
6,957.08 |
+0.87% |
|
Advancers |
2,008 |
68% |
|
Advancers |
2,017 |
66% |
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S&P 500 |
+10.55 |
2,584.96 |
+0.41% |
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Decliners |
962 |
32% |
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Decliners |
1,056 |
34% |
|
Russell 2000 |
+12.25 |
1,438.81 |
+0.86% |
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52 Wk Highs |
12 |
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52 Wk Highs |
36 |
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S&P 600 |
+9.19 |
896.69 |
+1.04% |
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52 Wk Lows |
10 |
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52 Wk Lows |
9 |
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Breadth Positive and Leadership Improved Behind More Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished higher Wednesday. The Dow added 91 points to 23,879 while the S&P 500 gained 10 points to 2,584. The Nasdaq Composite climbed 60 points to 6,957. The volume totals were mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Advancers led decliners by more than a 2-1 margin on the NYSE and on the Nasdaq exchange. There were 4 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, matching the prior session total. There was an increase in new 52-week highs on both the NYSE and on the Nasdaq exchange versus the prior session. New 52-week highs outnumbered new 52-week lows on the Nasdaq exchange and on the NYSE. The newspaper reported that Friday's session was a follow-through day and the major indices are in a confirmed uptrend. Disciplined investors know that a proper follow-through day requires big gains from at least one of the major indices with higher volume and an expansion in leadership (stocks hitting new highs). New leadership was a critical missing element on Friday, however, additional confirmation this week has helped to signal a change in market direction (M criteria) back to a bullish stance. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The Dow Jones Industrial Average remains well below its 50-day and 200-day moving average (DMA) lines.
The major averages extended gains as a perceived “dovish” stance from the Federal Reserve boosted investor sentiment. The minutes from the most recent FOMC meeting indicated policymakers are willing to take a “patient” approach to future rate hikes. However, market gains remained capped as investors kept a watchful eye on Capitol Hill after a “disappointing” meeting in which Senate leaders met with President Trump in an attempt to end the partial government shutdown. On the data front, mortgage applications jumped 23.5% while refinancing applications spiked 35% in the period ending Jan 4th.
Energy shares paced gains as Chevron (CVX +1.34%) rose. Technology stocks also outperformed as Apple (AAPL +1.70%) and Microsoft (MSFT +1.43%) rose. Consumer Staples underperformed as Constellation Brands (STZ -12.42%) fell after the adult beverage distributor provided weaker than expected forward guidance. In other earnings news, Lennar Corp (LEN +7.93%) rose after the home-builder advised it’s seeing increased buyer traffic as rates have eased from multi-year highs.
Treasuries were mixed with the yield on the 10-year note off one basis point at 2.72%. In commodities, WTI crude climbed 4.9% to $52.24/barrel, the eight consecutive daily advance. COMEX gold added 0.6% to $1,294.00/ounce amid a weaker dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity, Tech, Financial and Retail Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Commodity-linked groups posted solid gains and led the market higher as the Oil Services Index ($OSX +2.74%), Integrated Oil Index ($XOI +1.85%), and the Gold & Silver Index ($XAU +1.83%) rose. The Broker/Dealer Index ($XBD +0.75%) and the Bank Index ($BKX +0.85%) outpaced the Retail Index ($RLX +0.26%). The Semiconductor Index ($SOX +2.52%) outpaced the Biotech Index ($BTK +0.97%) and the Networking Index ($NWX +0.61%) as the tech sector also had a positive bias.
Charts courtesy of www.stockcharts.com
 PICTURED: The Biotech Index ($BTK +0.97%) posted a 4th consecutive gain and rebounded above its 50-day moving average (DMA) line toward its 200 DMA line.
| Oil Services |
$OSX |
94.41 |
+2.52 |
+2.74% |
+17.13% |
| Integrated Oil |
$XOI |
1,254.82 |
+22.78 |
+1.85% |
+8.26% |
| Semiconductor |
$SOX |
1,189.84 |
+29.29 |
+2.52% |
+3.00% |
| Networking |
$NWX |
508.61 |
+3.07 |
+0.61% |
+4.08% |
| Broker/Dealer |
$XBD |
248.90 |
+1.84 |
+0.75% |
+4.87% |
| Retail |
$RLX |
2,088.83 |
+5.52 |
+0.26% |
+7.04% |
| Gold & Silver |
$XAU |
72.78 |
+1.31 |
+1.83% |
+3.00% |
| Bank |
$BKX |
90.42 |
+0.76 |
+0.85% |
+5.40% |
| Biotech |
$BTK |
4,688.87 |
+45.01 |
+0.97% |
+11.09% |
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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 |
MLR
-
NYSE
Miller Industries Inc
AUTOMOTIVE - Auto Parts
|
$28.21
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+0.24
0.86% |
$28.35
|
24,281
63.90% of 50 DAV
50 DAV is 38,000
|
$29.40
-4.05%
|
11/30/2018
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$28.35
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PP = $29.50
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MB = $30.98
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Most Recent Note - 1/8/2019 5:05:58 PM
Y - Perched within close striking distance of prior highs while consolidating above its 50-day and 200-day moving average (DMA) lines. Little resistance remains due to overhead supply up to the $29 level. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Within Close Striking Distance of Prior High - 1/8/2019 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
UBNT
-
NASDAQ
Ubiquiti Networks
TELECOMMUNICATIONS - Diversified Communication Serv
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$104.14
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+0.14
0.13% |
$104.76
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206,260
46.45% of 50 DAV
50 DAV is 444,000
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$115.44
-9.79%
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11/9/2018
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$108.20
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PP = $101.43
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MB = $106.50
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Most Recent Note - 1/7/2019 6:39:28 PM
Y - Color code is changed to yellow after rebounding above its 50 DMA line ($101.87) with a light volume gain today helping its outlook to improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Needs Rebound Above 50-Day Average to Help Outlook - 1/2/2019 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
PLNT
-
NYSE
Planet Fitness Inc Cl A
Leisure-Services
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$58.31
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+0.69
1.20% |
$58.98
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1,811,909
140.68% of 50 DAV
50 DAV is 1,288,000
|
$58.50
-0.32%
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11/7/2018
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$57.10
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PP = $55.45
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MB = $58.22
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Most Recent Note - 1/8/2019 5:07:54 PM
Y - Posted a 3rd consecutive gain with above average volume today and finished at a best-ever close. Its 50 DMA line ($52.64) defines important near-term support to watch above the recent low ($48). Little resistance remains due to overhead supply up to the $58.50 level.
>>> FEATURED STOCK ARTICLE : Found Prompt Support Near 50-Day Moving Average Line - 1/4/2019 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
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$95.81
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+0.99
1.04% |
$96.97
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1,454,775
97.24% of 50 DAV
50 DAV is 1,496,000
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$98.21
-2.45%
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1/7/2019
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$94.68
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PP = $98.31
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MB = $103.23
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Most Recent Note - 1/8/2019 12:39:13 PM
Y - Posted a solid gain on the prior session with heavy volume and it is on track today for a 3rd consecutive gain. Color code was changed to yellow with new pivot point cited based on its 10/01/18 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Fundamentals remain strong. It found support at its 200 DMA line during the consolidation after dropped from the Featured Stocks list on 10/10/18. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Rebounding Near Prior High Which May Act as Resistance - 1/7/2019 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
INVA
-
NASDAQ
Innoviva Inc
Medical-Biomed/Biotech
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$19.24
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+0.44
2.34% |
$19.58
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2,013,343
168.20% of 50 DAV
50 DAV is 1,197,000
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$19.10
0.74%
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11/23/2018
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$17.74
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PP = $18.09
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MB = $18.99
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Most Recent Note - 1/9/2019 12:43:40 PM
G - Hitting another a new high with today's 4th consecutive gain, rising above its "max buy" level and its color code is changed to green. Recent gains above the pivot point had volume below the +40% minimum guideline needed to trigger a proper technical buy signal. The 50 DMA line and prior low define near-term support.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Average Line Near High - 1/3/2019 |
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.
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