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AFTER MARKET UPDATE - MONDAY, FEBRUARY 4TH, 2019
Previous After Market Report Next After Market Report >>>
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DOW |
+175.48 |
25,239.37 |
+0.70% |
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Volume |
792,143,420 |
-11% |
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Volume |
2,085,545,764 |
-12% |
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NASDAQ |
+83.67 |
7,347.54 |
+1.15% |
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Advancers |
1,988 |
67% |
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Advancers |
2,106 |
69% |
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S&P 500 |
+18.34 |
2,724.87 |
+0.68% |
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Decliners |
959 |
33% |
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Decliners |
964 |
31% |
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Russell 2000 |
+15.48 |
1,517.54 |
+1.03% |
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52 Wk Highs |
62 |
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52 Wk Highs |
59 |
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S&P 600 |
+11.23 |
944.81 |
+1.20% |
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52 Wk Lows |
6 |
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52 Wk Lows |
18 |
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Leadership Improved as Major Indices Rallied With Less Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished firmly higher Monday. The Dow added 175 points to 25,239 while the S&P 500 gained 18 points to 2,724. The Nasdaq Composite climbed 83 points to 7,347. The volume totals were lighter than the prior session on both the NYSE and the Nasdaq exchange, revealing less buying demand from the institutional crowd. Breadth was positive as advancers led decliners by almost a 2-1 margin on the NYSE and more than a 2-1 margin on the Nasdaq exchange. There were 32 high-ranked companies from the Leaders List that made a new 52-week high and were listed on the BreakOuts Page, versus the total of 29 on the prior session. New 52-week highs totals solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange versus the prior session. The major indices are in a confirmed uptrend after recently noted improvements 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 is -6.4% off its record high after recently rebounding above its 200-day moving average (DMA) line.
The major averages advanced as strength in the Technology sector boosted sentiment. Quarterly earnings updates garnered an outsized focus during the session with several bellwether companies are slated to announce results later this week. On the data front, a survey showed factory orders unexpectedly declined for the second consecutive month in November. A separate release revealed durable goods orders increased by 0.7% in November, well below projections of a 1.5% advance.
Nine of 11 S&P 500 sectors finished in positive territory as Technology & Communication Services stocks paced gains. Shares of Apple (AAPL +2.8%) and Google parent Alphabet (GOOGL +2.0%) rose. Consumer Staples also outperformed with Clorox (CLX +5.7%) rose after topping analyst estimates on both the top and bottom line. Industrials posted solid gains as Boeing (BA +2.5%) climbed. The Healthcare group underperformed as AbbVie (ABBV -2.4%) fell following this weekend’s write-up in Barron’s suggesting drug makers may see increased headwinds due to pricing pressures.
Treasuries were weaker with the yield on the benchmark 10-year note up three basis points to 2.72%. In commodities, WTI crude fell 0.9% to $54.75/barrel. COMEX gold lost 0.2% to $1314.30/ounce amid a stronger dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Tech, and Energy Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.85%), Broker/Dealer Index ($XBD +0.98%), and the Bank Index ($BKX +0.57%) posted unanimous gains which helped move the major averages higher. The tech sector had a positive bias as the Networking Index ($NWX +0.24%), Semiconductor Index ($SOX +0.50%), and the Biotech Index ($BTK +0.10%) posted gains. The Integrated Oil Index ($XOI +0.46%) and the Oil Services Index ($OSX +1.40%) also rose, meanwhile the Gold & Silver Index ($XAU -0.12%) ended slightly in the red.
Charts courtesy of www.stockcharts.com
 , Broker/Dealer Index ($XBD +0.98%), and the Bank Index ($BKX +0.57%) posted unanimous gains which helped move the major averages higher. The tech sector had a positive bias as the Networking Index ($NWX +0.24%), Semiconductor Index ($SOX +0.50%), and the Biotech Index ($BTK +0.10%) posted gains. The Integrated Oil Index ($XOI +0.46%) and the Oil Services Index ($OSX +1.40%) also rose, meanwhile the Gold & Silver Index ($XAU -0.12%) ended slightly in the red.) PICTURED: The Semiconductor Index ($SOX +0.50%) has rebounded near its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
99.07 |
+1.37 |
+1.40% |
+22.92% |
| Integrated Oil |
$XOI |
1,300.87 |
+6.00 |
+0.46% |
+12.23% |
| Semiconductor |
$SOX |
1,293.88 |
+6.48 |
+0.50% |
+12.01% |
| Networking |
$NWX |
544.99 |
+1.29 |
+0.24% |
+11.52% |
| Broker/Dealer |
$XBD |
262.77 |
+2.55 |
+0.98% |
+10.71% |
| Retail |
$RLX |
2,114.92 |
+17.80 |
+0.85% |
+8.38% |
| Gold & Silver |
$XAU |
75.82 |
-0.09 |
-0.12% |
+7.30% |
| Bank |
$BKX |
97.28 |
+0.55 |
+0.57% |
+13.39% |
| Biotech |
$BTK |
4,915.30 |
+5.01 |
+0.10% |
+16.45% |
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Volume Heavy Behind Damaging Losses Negating Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Innoviva Inc (INVA -$0.17 or -1.04% to $16.24) needs a rebound above the 50-day moving average (DMA) line ($17.90) for its outlook to improve. It recently undercut the prior high ($18.60 on 12/03/18) and violated its 50 DMA line triggering technical sell signals during a streak of 4 consecutive volume-driven losses. The prior low ($15.55 on 12/24/18) defines the next important near-term support to watch.
INVA was highlighted in yellow with pivot point cited based on its 4/12/18 high plus 10 cents in the 11/23/18 mid-day report (read here). It was last shown in this FSU section on 1/17/19 with an annotated graph under the headline, "Perched at High Following Volume-Driven Gains".
Keep in mind that it is due to report earnings news on 2/06/19. Volume and volatility often increase near earnings news. Earnings increases in quarterly comparisons through Sep '18 have been above the +25% minimum guideline (C criteria). Annual earnings (A criteria) growth has been good after turning a profitable FY '15. It has earned a 95 Earnings Per Share Rating, well above the 80+ minimum for buy candidates.
The number of top-rated funds owning its shares rose from 351 in Dec '17 to 412 in Dec '18, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 0.8 is an unbiased indication its shares have been under some distributional pressure over the past 50 days. There are only 66.7 million shares in the public float (S criteria). It has earned an B Timeliness Rating and C Sponsorship Rating.
Charts courtesy of www.stockcharts.com
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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
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$30.10
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-0.42
-1.38% |
$30.84
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30,613
85.04% of 50 DAV
50 DAV is 36,000
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$30.56
-1.51%
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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 - 2/4/2019 5:30:07 PM
Y - Reversed early gains today after hitting new highs, ending near the session low with a loss on higher (near average) volume. Subsequent gains above the pivot point backed by at least +40% above average volume may help clinch a proper technical buy signal. Its 50 DMA line and recent low define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Traded Above Pivot Point Recently Without Great Volume - 1/29/2019 |
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C
A
S
I |
LHCG
-
NASDAQ
L H C Group Inc
HEALTH SERVICES - Home Health Care
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$110.92
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+4.31
4.04% |
$110.99
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286,592
108.15% of 50 DAV
50 DAV is 265,000
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$109.33
1.45%
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1/23/2019
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$107.29
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PP = $107.61
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MB = $112.99
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Most Recent Note - 2/4/2019 5:33:58 PM
Y - Posted a big gain today with lighter (near average) volume. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Healthcare Services Firm Reached a New High - 1/23/2019 |
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C
A
S
I |
BSTC
-
NASDAQ
Biospecifics Technologie
Medical-Biomed/Biotech
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$68.46
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+3.77
5.83% |
$69.27
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100,869
258.64% of 50 DAV
50 DAV is 39,000
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$68.00
0.68%
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1/18/2019
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$67.40
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PP = $66.31
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MB = $69.63
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Most Recent Note - 2/4/2019 12:49:16 PM
Y - Matched its 52-week high with today's volume-driven gain. Thinly traded Biomed/Biotech firm is rallying above its pivot point again. Gains backed by at least +40% above average volume and a new high close would be a reassuring sign of institutional accumulation clinching a technical buy signal.
>>> FEATURED STOCK ARTICLE : Thinly Traded Biotech Shows Signs of Accumulation - 1/18/2019 |
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C
A
S
I |
UBNT
-
NASDAQ
Ubiquiti Networks
TELECOMMUNICATIONS - Diversified Communication Serv
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$111.97
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+2.38
2.17% |
$111.99
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259,660
78.45% of 50 DAV
50 DAV is 331,000
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$115.44
-3.01%
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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 - 1/31/2019 5:59:57 PM
G - Still quietly consolidating above its 50 DMA line ($105.10). Faces some resistance due to overhead supply up to the $115 level. Prior low ($92.08 on 12/24/18) defines the next important support. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Moving Average - 1/31/2019 |
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C
A
S
I |
NOW
-
NYSE
Servicenow Inc
Computer Sftwr-Enterprse
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$225.14
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+3.63
1.64% |
$225.88
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3,586,695
153.41% of 50 DAV
50 DAV is 2,338,000
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$228.41
-1.43%
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1/31/2019
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$218.14
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PP = $206.40
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MB = $216.72
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Most Recent Note - 2/1/2019 5:06:59 PM
G - Color code is changed to green after rising above its "max buy" level. Highlighted in yellow with pivot point cited based on its 9/13/18 high plus 10 cents when highlighted in the 1/31/19 mid-day report as it triggered a technical buy signal with a big "breakaway gap". Bullish action came after it reported earnings +79% on +30% sales revenues for the Dec '18 quarter, continuing its strong earnings track record. Prior mid-day report noted - "Volume and volatility often increase near earnings news." See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Breakaway Gap Followed Strong Earnings Report - 2/1/2019 |
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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 |
PYPL
-
NASDAQ
Paypal Holdings Inc
Finance-CrdtCard/PmtPr
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$91.66
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+1.65
1.83% |
$92.12
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6,952,752
73.37% of 50 DAV
50 DAV is 9,476,000
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$94.58
-3.09%
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1/24/2019
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$92.56
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PP = $93.80
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MB = $98.49
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Most Recent Note - 1/31/2019 1:07:09 PM
Y - Gapped down today after reporting +25% earnings on +13% sales revenues for the Dec '18 quarter. Volume and volatility often increase near earnings news. Disciplined investors note that the recent gains above the pivot point lacked the +40% above average volume needed to trigger a proper technical buy signal.
>>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of High Ahead of Earnings News - 1/24/2019 |
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C
A
S
I |
ALRM
-
NASDAQ
Alarm.com Holdings Inc
Security/Sfty
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$62.15
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-0.18
-0.29% |
$62.88
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555,229
112.85% of 50 DAV
50 DAV is 492,000
|
$63.72
-2.46%
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1/22/2019
|
$60.52
|
PP = $60.30
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MB = $63.32
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Most Recent Note - 2/4/2019 5:25:42 PM
Y - Stubbornly holding its ground perched near its all-time high. Recent gains for new highs lacked great volume conviction. Prior highs in the $60 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pullback Broke Steak of Gains and Reversed From New High - 1/22/2019 |
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C
A
S
I |
PLNT
-
NYSE
Planet Fitness Inc Cl A
Leisure-Services
|
$58.15
|
+0.16
0.28% |
$58.72
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2,095,543
171.06% of 50 DAV
50 DAV is 1,225,000
|
$59.52
-2.30%
|
11/7/2018
|
$57.10
|
PP = $55.45
|
|
MB = $58.22
|
Most Recent Note - 2/4/2019 5:32:16 PM
Y - Churned higher above average volume today and above average volume on prior sessions without making meaningful price progress, action indicative of distributional pressure. Still consolidating below its "max buy" level and holding its ground in a tight range near its all-time high. Its 50 DMA line ($55.36) defines important near-term support to watch above the recent low ($48).
>>> FEATURED STOCK ARTICLE : Hovering in a Tight Range Near All-Time High - 1/25/2019 |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$102.18
|
+3.20
3.23% |
$102.85
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1,979,005
113.93% of 50 DAV
50 DAV is 1,737,000
|
$101.76
0.41%
|
1/7/2019
|
$94.68
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PP = $98.31
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MB = $103.23
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Most Recent Note - 2/4/2019 5:36:51 PM
Y - Posted a 4th consecutive gain today hitting new all-time highs, however gains have lacked great volume conviction. Gains and a strong close above the pivot point backed by at least +40% above average volume are needed to clinch a proper technical buy signal. Its 50 DMA line ($87.32) and prior low define near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Light While Hovering Near High - 1/28/2019 |
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C
A
S
I |
MEDP
-
NASDAQ
Medpace Holdings Inc
Medical-Research Eqp/Svc
|
$67.71
|
+1.98
3.01% |
$67.74
|
565,313
75.38% of 50 DAV
50 DAV is 750,000
|
$66.83
1.32%
|
1/30/2019
|
$64.10
|
PP = $65.19
|
|
MB = $68.45
|
Most Recent Note - 2/1/2019 4:55:41 PM
Y - Wedged to a new 52-week high with +22% above average volume behind today's 3rd consecutive gain. Pivot point cited is based on its 9/17/18 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. The 200 DMA line acted as support above the prior low and it has rebounded since dropped from the Featured Stocks list on 12/19/18. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Rallied Near 52-Week High With a Volume-Driven Gain - 1/30/2019 |
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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 |
INVA
-
NASDAQ
Innoviva Inc
Medical-Biomed/Biotech
|
$16.24
|
-0.17
-1.04% |
$16.58
|
1,410,415
118.62% of 50 DAV
50 DAV is 1,189,000
|
$20.54
-20.93%
|
11/23/2018
|
$17.74
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PP = $18.09
|
|
MB = $18.99
|
Most Recent Note - 2/4/2019 5:24:11 PM
G - Damaging volume-driven losses last week triggered technical sell signals. A rebound above the 50 DMA line is ($17.90) needed for its outlook to improve. Due to report earnings news on 2/06/19. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Damaging Losses Negating Breakout - 2/4/2019 |
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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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