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AFTER MARKET UPDATE - FRIDAY, JANUARY 31ST, 2014
Previous After Market Report Next After Market Report >>>
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DOW |
-149.76 |
15,698.85 |
-0.94% |
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Volume |
937,278,900 |
+46% |
|
Volume |
2,121,194,490 |
+9% |
|
NASDAQ |
-19.25 |
4,103.88 |
-0.47% |
|
Advancers |
1,135 |
36% |
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Advancers |
774 |
29% |
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S&P 500 |
-11.60 |
1,782.59 |
-0.65% |
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Decliners |
1,903 |
60% |
|
Decliners |
1,832 |
68% |
|
Russell 2000 |
-8.48 |
1,130.88 |
-0.74% |
|
52 Wk Highs |
51 |
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|
52 Wk Highs |
74 |
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S&P 600 |
-4.30 |
639.51 |
-0.67% |
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52 Wk Lows |
87 |
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52 Wk Lows |
41 |
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Distributional Pressure Hits Dow Worst Among Major Averages
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major averages declined on the week, extending their monthly losses. In January, the Dow Jones Industrial Average shed -5.3%, the S&P 500 Index gave up -3.5% and the Nasdaq Composite Index lost -1.7%. The major averages fell on Friday with volume totals reported higher than the prior trading session's volume totals on the NYSE and on the Nasdaq exchange, a sign that the institutional crowd was increasing their selling efforts. Breadth was negative as decliners led advancers by a 3-2 ratio on the NYSE and slightly worse on the Nasdaq exchange. There were 20 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, matching the total of 20 stocks on the prior session. The list of stocks hitting new 52-week highs outnumbered new 52-week lows on the Nasdaq exchange but new lows outnumbered new highs on the NYSE. There were gains for 5 of the 13 high-ranked companies currently included on the Featured Stocks Page, a list that has recently been waning. The Market (M criteria) has encountered distributional pressure and leadership (stocks hitting new highs) has waned, earning the label of being in another "correction". Such weakness serves as a reminder for investors to use caution and remain disciplined in following proper sell rules under the fact-based investment system to reduce market exposure.
Equity markets ended lower on the day, albeit off of their worst levels. Ongoing concerns over emerging market growth and weaker-than-expected corporate earnings weighed on stocks.
PICTURED: The Nasdaq Composite Index ended the week just above its 50-day moving average (DMA) line ($4,095.32).
Shares of Amazon.com (AMZN -11%) fell after the company posted results that were below analysts’ estimates. Toymaker Mattel (MAT -12%) was also under pressure following their disappointing quarterly results. On the upside, Chipotle Mexican Grill (CMG +11.7%) rallied as strong same-store sales helped the company post a better-than-anticipated profit tally.
Turning to fixed income markets, Treasuries ended higher along the curve. The benchmark 10-year note was up 3/8 of a point to yield 2.66% and the 30-year bond added 5/8 of a point to yield 3.61%.
Investors should be watchful for any individual issues flashing technical sell signals. The CANSLIM.net Featured Stocks Page shows the most action-worthy candidates and their latest notes and a Headline Link directs members to the latest detailed analysis with data-packed graphs annotated by a Certified expert along with links to additional resources. The Premium Member Homepage includes "dynamic archives" to all prior pay reports published. Watch for an announcement via email concerning the next WEBCAST.
PICTURED: The Dow Jones Industrial Average undercut its December lows while slumping badly. It and the S&P 500 Index are below their respective 50 DMA lines.
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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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Retail and Financial Indexes Add Negative Influence
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financial stocks weighed on the major averages Friday as the Bank Index ($BKX -1.51%) and Broker/Dealer Index ($XBD -1.44%) both sank. Weak action in the financial groups has been noted in recent reports as a bad sign for the broader market outlook because the financial groups historically have proven to be very reliable "leading indicators".
The tech sector saw losses for the Networking Index ($NWX -1.81%), Biotechnology Index ($BTK -1.65%), and the Semiconductor Index ($SOX -0.52%). The Integrated Oil Index ($XOI -1.73%) fell worse than the Oil Services Index ($OSX -0.37%), and the Gold & Silver Index ($XAU -0.50%) also edged lower while commodity-linked groups rounded out the thoroughly negative session.
Charts courtesy www.stockcharts.com
PICTURED: The Retail Index ($RLX -2.61%) tumbled and was a negative influence on the major averages again on Friday. It is slumping near prior highs and toward its 200-day moving average (DMA) line. Last Friday's report (read here) emphasized the Retail group's worrisome action versus prior dips below the 50 DMA line which had found prompt support. More worrisome deterioration in the Retail Index bodes poorly because consumers account for nearly 2/3 of the US economy..
| Oil Services |
$OSX |
264.20 |
-0.97 |
-0.37% |
-5.99% |
| Integrated Oil |
$XOI |
1,407.37 |
-24.82 |
-1.73% |
-6.37% |
| Semiconductor |
$SOX |
529.18 |
-2.78 |
-0.52% |
-1.09% |
| Networking |
$NWX |
332.32 |
-6.13 |
-1.81% |
+2.59% |
| Broker/Dealer |
$XBD |
153.82 |
-2.25 |
-1.44% |
-4.19% |
| Retail |
$RLX |
867.63 |
-23.21 |
-2.61% |
-7.68% |
| Gold & Silver |
$XAU |
90.71 |
-0.46 |
-0.50% |
+7.80% |
| Bank |
$BKX |
67.33 |
-1.03 |
-1.51% |
-2.79% |
| Biotech |
$BTK |
2,533.66 |
-42.56 |
-1.65% |
+8.72% |
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50-Day Moving Average Defines Near Term Support After Great Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Soufun Hldgs Ltd Ads (SFUN -$0.81 or -0.99% to $81.39) halted its slide at its 50-day moving average (DMA) line after 3 consecutive volume-driven losses. It has been repeatedly noted as very extended from any sound base. Its 50 DMA line ($78.52 now) defines important support to watch. A subsequent violation of the 50 DMA line or recent lows may trigger worrisome technical sell signals.
The high-ranked Internet - Content firm had powered into new high territory since last shown in this FSU section on 1/10/14 with annotated graphs under the headline, "Extended From Base Following More Volume-Driven Gains", and prior reports cautioned - "It is extended from any sound base pattern yet may produce more climactic gains. Disciplined investors avoid chasing extended stocks. It traded up as much as +247% since first featured in the 2/11/13 mid-day report in yellow (read here).
Fundamentals remain strong as it reported +64% earnings on +45% sales revenues for the Sep '13 quarter versus the year ago period, solidly satisfying the C criteria. The number of top-rated funds owning its shares rose from 67 in Sep '12 to 170 in Dec '13, a reassuring sign concerning the I criteria. Its small supply (S criteria) of only 33.7 million shares in the public float 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 |
EGOV
-
NASDAQ
N I C Inc
INTERNET - Internet Software and Services
|
$21.74
|
+0.05
0.23% |
$22.20
|
265,085
104.74% of 50 DAV
50 DAV is 253,100
|
$25.99
-16.35%
|
12/20/2013
|
$24.00
|
PP = $26.09
|
|
MB = $27.39
|
Most Recent Note - 1/28/2014 5:15:24 PM
G - Slumped further below its 50 DMA line today on higher volume and undercut the recent low ($22.17 on 12/16/13) raising greater concerns. Its Relative Strength (RS) rating has fallen to 67, below the 80+ minimum guideline for buy candidates. A rally above recent resistance in the $25-26 area is needed for its technical stance to turn bullish. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating Wanes While Slumping on Higher Volume - 1/28/2014
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C
A N
S L
I M
|
EQM
-
NYSE
E Q T Midstream Partners
ENERGY - Oil and Gas Pipelines
|
$62.20
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-0.50
-0.80% |
$62.94
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66,030
61.71% of 50 DAV
50 DAV is 107,000
|
$63.82
-2.54%
|
12/12/2013
|
$53.17
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PP = $56.51
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|
MB = $59.34
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Most Recent Note - 1/31/2014 2:43:21 PM
G - Making gradual progress and stubbornly holding its ground, getting more extended from any sound base pattern. Prior highs in the $56 area define support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Extended From Base After Six Consecutive Weekly Gains - 1/17/2014
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C
A N
S L
I M
|
FB
-
NASDAQ
Facebook Inc Cl A
INTERNET
|
$62.57
|
+1.49
2.44% |
$63.37
|
87,485,601
136.81% of 50 DAV
50 DAV is 63,948,100
|
$62.50
0.11%
|
12/12/2013
|
$51.40
|
PP = $54.93
|
|
MB = $57.68
|
Most Recent Note - 1/30/2014 12:40:38 PM
Y - Reported earnings +82% on +63% sales revenues for the Dec '13 quarter. Gapped up and hit a new 52-week high today after finding support at its 50 DMA line during its latest consolidation. Color code is changed to yellow. Market conditions argue against new buying efforts until a FTD from at least one of the major averages confirms a new rally. One may consider a valid secondary buy point from its successful test of the 10 week average up to +5% above the recent high ($59.31 on 1/22/14).
>>> FEATURED STOCK ARTICLE : Following New Offering Prior Highs Acted As Support - 1/15/2014
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C
A N
S L
I M
|
JAZZ
-
NASDAQ
Jazz Pharmaceuticals Plc
DRUGS - Biotechnology
|
$151.66
|
-4.91
-3.13% |
$155.99
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1,207,098
154.72% of 50 DAV
50 DAV is 780,200
|
$159.14
-4.70%
|
9/30/2013
|
$93.20
|
PP = $89.10
|
|
MB = $93.56
|
Most Recent Note - 1/28/2014 12:52:33 PM
G - Rebounding toward its 52-week high with a gap up gain today following 2 consecutive big losses on above average volume. Its 50 DMA line ($125.973 now) defines important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Very Extended From Sound Base Following Big Volume-Driven Gains - 1/14/2014
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C
A N
S L
I M
|
KORS
-
NYSE
Michael Kors Hldgs Ltd
RETAIL - Apparel Stores
|
$79.93
|
-0.46
-0.57% |
$80.72
|
2,710,213
64.56% of 50 DAV
50 DAV is 4,197,800
|
$84.58
-5.50%
|
8/6/2013
|
$69.66
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PP = $66.28
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|
MB = $69.59
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Most Recent Note - 1/29/2014 3:13:27 PM
G - Slumping back below its 50 DMA line today. Recent losses on higher volume indicated distributional pressure. Reports quarterly financial results on Tuesday, February 4, 2014, before the market opens.
>>> FEATURED STOCK ARTICLE : Technical Deterioration and RS Rating Slump Raises Concerns - 1/9/2014
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C
A N
S L
I M
|
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 |
MRLN
-
NASDAQ
Marlin Business Services
DIVERSIFIED SERVICES - Rental and Leasing Services
|
$25.37
|
-0.78
-2.98% |
$25.72
|
42,433
132.60% of 50 DAV
50 DAV is 32,000
|
$29.58
-14.23%
|
12/19/2013
|
$26.69
|
PP = $28.74
|
|
MB = $30.18
|
Most Recent Note - 1/29/2014 6:01:52 PM
Y - Down today on lighter volume, finishing at the session low with a 4th consecutive loss. Slumped near its 50 DMA line where a violation would raise more serious concerns. Disciplined investor always limit losses by selling any stock that falls more than -7% from their purchase price.
>>> FEATURED STOCK ARTICLE : Hovering Near 52-Week High Following Technical Breakout - 1/22/2014
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C
A N
S L
I M
|
PCLN
-
NASDAQ
Priceline.Com Inc
INTERNET - Internet Software and Services
|
$1,144.89
|
-15.11
-1.30% |
$1,161.04
|
805,235
136.18% of 50 DAV
50 DAV is 591,300
|
$1,214.97
-5.77%
|
12/18/2013
|
$1,156.20
|
PP = $1,198.85
|
|
MB = $1,258.79
|
Most Recent Note - 1/29/2014 5:57:38 PM
G - Slumped further below its 50 DMA line today with slightly higher volume. Prior low ($1,113.01 on 1/06/13) defines near-term support to watch. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Violation of 50-Day Average After Failing to Trigger New Buy Signal - 1/29/2014
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C
A N
S L
I M
|
RGR
-
NYSE
Sturm Ruger & Co Inc
CONSUMER DURABLES - Sporting Goods
|
$76.17
|
+0.37
0.49% |
$76.62
|
282,421
83.19% of 50 DAV
50 DAV is 339,500
|
$85.93
-11.36%
|
1/8/2014
|
$78.87
|
PP = $80.38
|
|
MB = $84.40
|
Most Recent Note - 1/31/2014 2:41:55 PM
G- Finding support near its 50 DMA line after negating the prior breakout and slumping back into the prior base. Volume totals have cooled in recent weeks. Faces overhead supply up through the $85 level which may act as resistance.
>>> FEATURED STOCK ARTICLE : Hit New Highs With 6th Consecutive Gain - 1/13/2014
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C
A N
S L
I M
|
SFUN
-
NYSE
Soufun Hldgs Ltd Ads A
INTERNET - Internet Information Providers
|
$81.39
|
-0.81
-0.99% |
$82.43
|
690,395
58.99% of 50 DAV
50 DAV is 1,170,400
|
$95.39
-14.68%
|
10/17/2013
|
$58.02
|
PP = $53.87
|
|
MB = $56.56
|
Most Recent Note - 1/31/2014 6:01:39 PM
G - Halted its slide at its 50 DMA line after volume-driven losses. It is extended from any sound base. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Defines Near Term Support After Great Rally - 1/31/2014
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C
A N
S L
I M
|
SILC
-
NASDAQ
Silicom Ltd
COMPUTER HARDWARE - Networking andamp; Communication Dev
|
$62.41
|
+0.21
0.34% |
$62.45
|
45,851
133.29% of 50 DAV
50 DAV is 34,400
|
$63.91
-2.35%
|
12/23/2013
|
$44.62
|
PP = $46.25
|
|
MB = $48.56
|
Most Recent Note - 1/29/2014 2:40:53 PM
G - Hovering near its 52-week high today, extended from any sound base. Stubbornly holding its ground since a considerable gap up on 1/23/14 after reporting earnings +92% on +52% sales for the Dec '13 quarter, beating consensus estimates.
>>> FEATURED STOCK ARTICLE : Considerable Gap Up Following Strong Earnings Report - 1/23/2014
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C
A N
S L
I M
|
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 |
SSNC
-
NASDAQ
S S & C Technologies
COMPUTER SOFTWARE and SERVICES - Application Software
|
$38.82
|
-0.29
-0.74% |
$39.26
|
221,249
84.06% of 50 DAV
50 DAV is 263,200
|
$46.61
-16.71%
|
10/22/2013
|
$39.17
|
PP = $40.04
|
|
MB = $42.04
|
Most Recent Note - 1/29/2014 3:12:07 PM
G- Gapped down today, raising greater concerns while slumping further below its 50 DMA line with above average volume behind its damaging 4th consecutive loss. A rebound above the 50 DMA line is needed for its outlook improve.
>>> FEATURED STOCK ARTICLE : Enduring Distributional Pressure While Retreating Near Prior Highs - 1/16/2014
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C
A N
S L
I M
|
ULTI
-
NASDAQ
Ultimate Software Group
INTERNET - Internet Software and Services
|
$163.23
|
+0.91
0.56% |
$164.82
|
451,645
332.58% of 50 DAV
50 DAV is 135,800
|
$163.21
0.01%
|
1/27/2014
|
$153.75
|
PP = $162.98
|
|
MB = $171.13
|
Most Recent Note - 1/31/2014 6:03:56 PM
Y - Rallied for another new 52-week high with heavy volume behind today's 2nd consecutive gain confirming a technical buy signal. On 1/30/14 it was noted - "Broader market conditions (M criteria) argue for caution until at least one of the major averages produces a convincing follow through day of gains on higher volume."
>>> FEATURED STOCK ARTICLE : Forming New Base But Enduring Distributional Pressure - 1/27/2014
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C
A N
S L
I M
|
VRX
-
NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other
|
$135.64
|
-0.96
-0.70% |
$137.35
|
1,185,416
102.62% of 50 DAV
50 DAV is 1,155,100
|
$140.36
-3.36%
|
9/11/2013
|
$100.26
|
PP = $105.50
|
|
MB = $110.78
|
Most Recent Note - 1/28/2014 1:38:14 PM
G - Extended from any sound base and enduring mild distributional pressure for the past week. Its 50 DMA line and prior highs near $115 define near-term support to watch.
>>> FEATURED STOCK ARTICLE : Bullish Action Has Continued Despite Fundamental Concerns - 1/21/2014
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C
A N
S L
I M
|
|
|
|
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
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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
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