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AFTER MARKET UPDATE - MONDAY, APRIL 15TH, 2024
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DOW |
-248.13 |
37,735.11 |
-0.65% |
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Volume |
924,795,607 |
-1% |
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Volume |
4,959,587,300 |
+8% |
NASDAQ |
-290.08 |
15,885.02 |
-1.79% |
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Advancers |
454 |
16% |
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Advancers |
923 |
22% |
S&P 500 |
-61.59 |
5,061.82 |
-1.20% |
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Decliners |
2,401 |
84% |
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Decliners |
3,364 |
78% |
Russell 2000 |
-27.47 |
1,975.71 |
-1.37% |
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52 Wk Highs |
20 |
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52 Wk Highs |
36 |
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S&P 600 |
-11.36 |
1,258.69 |
-0.89% |
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52 Wk Lows |
89 |
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52 Wk Lows |
338 |
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Continued distributional action recently was noted as it signaled a shift in (M criteria) conditions from an "uptrend under pressure" to a market "correction". Use greater caution, raise cash and reduce exposure by selling any weakening stocks on a case-by-case basis.
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Major Indices Erased Early Gains to End Lower Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 fell -1.2% as initial buyer enthusiasm faded on Monday and the major indices ultimately settled at or near their worst levels of the session. Volume reported was mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Breadth was clearly negative as decliners led advancers by more than a 5-1 margin on the NYSE and by more than a 3-1 margin on the Nasdaq exchange. Leadership waned as only a few high-ranked companies from the Leaders List hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 14 on the prior session. New 52-week lows totals expanded and outnumbered shrinking new 52-week highs on the NYSE and on the Nasdaq exchange. The major indices have shown distributional action indicative of a market correction (M criteria). Greater caution is important for all investors. Always stand ready to protect against losses.
PICTURED: The Nasdaq Composite Index violated its 50-day moving average (DMA) line for the first time since early November.
Geopolitical worries were a factor and Treasury yields remained elevated. The 2-yr note yield settled six basis points higher at 4.94% and the 10-yr note yield jumped 13 basis points to 4.63%.
All 11 S&P 500 sectors fell, reflecting a broad-based market retreat. The financial sector suffered a -0.5% loss even with earnings-related gains in Goldman Sachs (GS +2.92%), M&T Bank (MTB +4.74%), and Charles Schwab (SCHW +1.71%).
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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, Tech, and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -0.85%) and Retail Index ($RLX -1.34%) each lost ground while the Bank Index ($BKX +0.30%) eked out a small gain. The tech sector had a negative bias as the Semiconductor Index ($SOX -1.39%), Networking Index ($NWX -2.01%), and the Biotech Index ($BTK -1.60%) each lost ground. The Gold & Silver Index ($XAU -1.03%), Integrated Oil Index ($XOI -1.05%), and the Oil Services Index ($OSX -1.31%) rounded out the mostly negative session with losses.
![]() PICTURED: The Networking Index ($NWX -2.01%) is slumping to new 2024 lows.
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
A technical problem with one of our service providers prevented us from including fresh data on our Featured Stocks and Leaders List stocks today. Please accept our apologies for any inconvenience this may have caused. We expect to return to normal operation for Tuesday's session.
Market conditions (M criteria) have been noted in the daily commentaries, and with Special Notices added since Wednesday, April 10th, that the market is in a correction. Use caution to prevent a damaging drawdown by selling any weakening stocks on a case-by-case basis. |
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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 |
ANET
-
NYSE
Arista Networks
Computer-Networking
|
$271.22
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-25.36
-8.55% |
$296.58
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5,734,165 212.46% of 50 DAV
50 DAV is 2,699,000
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$307.74 -11.87%
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3/18/2024
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$188.84
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PP = $292.76
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MB = $307.40
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Most Recent Note - 4/12/2024 11:56:44 AM
G - Slumping further after a damaging gap down today violating its 50 DMA line ($281.55) and an upward trendline connecting its October-March lows triggering technical sell signals. Color code was changed to green. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Consolidating Abover Recent Highs and Above 50-Day Average - 3/26/2024 |
View all notes |
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News |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$124.51
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-0.89
-0.71% |
$127.06
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3,210,320 60.01% of 50 DAV
50 DAV is 5,350,000
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$138.28 -9.96%
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3/1/2024
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$124.23
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PP = $124.97
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MB = $131.22
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Most Recent Note - 4/12/2024 10:32:29 AM
Y - Finding support at its 50 DMA line ($125.51) this week while volume totals have been cooling. More damaging losses below the recent low ($123.24 on 4/10/24) would raise concerns and trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Volume Cools While Consolidating Above 50-Day Moving Average Line - 4/3/2024 |
View all notes |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
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$310.88
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-13.21
-4.08% |
$323.50
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547,968 107.44% of 50 DAV
50 DAV is 510,000
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$329.87 -5.76%
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4/5/2024
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$309.90
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PP = $325.73
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MB = $342.02
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Most Recent Note - 4/12/2024 10:35:33 AM
Y - Pausing today after touching a new high on the prior session with a 5th consecutive gain marked by ever-increasing volume. Color code was changed to yellow with new pivot point cited based on its 3/04/24 high plus 10 cents. A gain above the pivot point backed by at least +40% above average volume is needed to trigger a proper technical buy signal. Its 50-day moving average (DMA) line ($296) defines near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Building a New Base - 4/8/2024 |
View all notes |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$1,220.38
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-14.55
-1.18% |
$1,231.86
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185,692 87.18% of 50 DAV
50 DAV is 213,000
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$1,246.22 -2.07%
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4/12/2024
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$1,224.21
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PP = $1,246.32
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MB = $1,308.64
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Most Recent Note - 4/12/2024 10:41:16 AM
Y - Color code is changed to yellow after holding its ground in a tight range near its all-time high. New pivot point is cited based on its 4/04/24 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper new technical buy signal. Its 50 DMA line ($1,182) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Perched Near High - 4/9/2024 |
View all notes |
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C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
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$309.06
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-8.74
-2.75% |
$314.87
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2,169,144 56.53% of 50 DAV
50 DAV is 3,837,000
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$365.00 -15.33%
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1/2/2024
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$246.42
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PP = $261.91
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MB = $275.01
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Most Recent Note - 4/12/2024 10:28:12 AM
G - Still lingering below its 50 DMA ($39) with volume totals cooling. A rebound above the 50 DMA line is needed for its outlook to improve. It has not formed a sound base. Fundamentals remain strong after it reported Jan '24 quarterly earnings +102% on +33% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Line Support Being Tested - 4/1/2024 |
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News |
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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 |
PCAR
-
NASDAQ
Paccar
Trucks and Parts-Hvy Duty
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$118.16
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-0.72
-0.61% |
$118.90
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1,975,978 90.27% of 50 DAV
50 DAV is 2,189,000
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$125.50 -5.85%
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1/23/2024
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$100.35
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PP = $98.57
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MB = $103.50
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Most Recent Note - 4/12/2024 5:44:01 PM
G - Quietly pulled back from its all-time high after getting very extended from any sound base. Its 50 DMA line ($114.41) defines near-term support to watch. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulling Back From High and Slumping Toward 50-Day Moving Average - 4/12/2024 |
View all notes |
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C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
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$401.74
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-4.49
-1.11% |
$406.09
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405,897 95.96% of 50 DAV
50 DAV is 423,000
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$429.61 -6.49%
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1/30/2024
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$343.26
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PP = $336.83
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MB = $353.67
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Most Recent Note - 4/12/2024 10:30:00 AM
G - Pulling back today for a 5th consecutive loss, slumping after a noted "negative reversal" at its all-time high on 4/04/24. It is very extended from the previously noted base. Its 50 DMA line ($386.41) defines important support to watch.
>>> FEATURED STOCK ARTICLE : Hubbell Perched at All-Time High After 5 Weekly Gains - 3/22/2024 |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
|
$293.87
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+0.12
0.04% |
$298.05
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34,382 143.26% of 50 DAV
50 DAV is 24,000
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$308.00 -4.59%
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2/9/2024
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$254.68
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PP = $265.09
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MB = $278.34
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Most Recent Note - 4/12/2024 12:10:06 PM
G - Still hovering in a tight range in recent weeks near its all-time high, stubbornly holding its ground despite encountering some distributional pressure. Its 50 DMA line ($276.58) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best Ever Close - 4/5/2024 |
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News |
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C
A
S
I |
NOW
-
NYSE
ServiceNow
Computer Sftwr-Enterprse
|
$768.71
|
-2.63
-0.34% |
$774.96
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959,446 84.16% of 50 DAV
50 DAV is 1,140,000
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$815.32 -5.72%
|
2/22/2024
|
$771.75
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PP = $815.32
|
MB = $856.09
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Most Recent Note - 4/11/2024 5:12:47 PM
Y - Posted a small gain today with below-average (lighter) volume, finding support near its 50 DMA line ($771). Prior lows in the $730 area define the next important near-term support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Quietly Consolidating Near 50-Day Moving Average Line - 4/11/2024 |
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News |
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C
A
S
I |
SNPS
-
NASDAQ
Synopsys
Computer Sftwr-Design
|
$557.35
|
-4.62
-0.82% |
$560.52
|
810,643 75.90% of 50 DAV
50 DAV is 1,068,000
|
$629.38 -11.44%
|
2/22/2024
|
$600.65
|
PP = $582.85
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MB = $611.99
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Most Recent Note - 4/12/2024 5:45:54 PM
G - Volume totals have been below average as it slumped below its 50 DMA line ($569) raising concerns. The prior low ($546.91 on 3/15/23) defines the next important support where a damaging loss would raise serious concerns and trigger a more worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Quietly Slumped Below 50-Day Moving Average Line - 4/10/2024 |
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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 |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$20.12
|
-0.62
-2.99% |
$20.68
|
245,034 64.82% of 50 DAV
50 DAV is 378,000
|
$25.21 -20.19%
|
3/5/2024
|
$19.97
|
PP = $18.89
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MB = $19.83
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Most Recent Note - 4/12/2024 5:47:40 PM
G - Pulled back today for a 3rd consecutive loss with below-average volume, slumping near its "max buy" level. Its 50 DMA line ($19.19) defines important near-term support above prior highs in the $18 range.
>>> FEATURED STOCK ARTICLE : Consolidating After Powerful Breakout and Volume-Driven Gains - 3/27/2024 |
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News |
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C
A
S
I |
HUBS
-
NYSE
HubSpot
Comp Sftwr-Spec Enterprs
|
$663.35
|
-18.67
-2.74% |
$679.30
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469,695 89.47% of 50 DAV
50 DAV is 525,000
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$693.85 -4.40%
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4/4/2024
|
$686.66
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PP = $660.10
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MB = $693.11
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Most Recent Note - 4/12/2024 5:48:54 PM
Y - Pulled back today with below-average volume. Highlighted yellow in the 4/04/24 mid-day report with pivot point cited based on its 2/09/24 high plus 10 cents. Initial support is at its prior highs and its 50 DMA line ($623). Reported Dec '23 quarterly earnings +59% on +24% sales revenues versus the year-ago period, its 6th consecutive quarterly comparison well above the +25% minimum guideline (C criteria). Annual earnings history (A criteria) has been strong. Faces some resistance due to old overhead supply up to the $866 level.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure and Finished Below Pivot Point - 4/4/2024 |
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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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