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AFTER MARKET UPDATE - WEDNESDAY, APRIL 16TH, 2014
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DOW |
+162.29 |
16,424.85 |
+1.00% |
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Volume |
660,618,440 |
-14% |
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Volume |
1,725,882,880 |
-23% |
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NASDAQ |
+52.07 |
4,086.23 |
+1.29% |
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Advancers |
2,429 |
77% |
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Advancers |
1,967 |
70% |
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S&P 500 |
+19.33 |
1,862.31 |
+1.05% |
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Decliners |
623 |
20% |
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Decliners |
762 |
27% |
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Russell 2000 |
+12.27 |
1,131.77 |
+1.10% |
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52 Wk Highs |
102 |
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52 Wk Highs |
30 |
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S&P 600 |
+5.95 |
654.01 |
+0.92% |
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52 Wk Lows |
16 |
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52 Wk Lows |
29 |
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Major Averages Rose Again But With Less Volume Conviction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices extended their winning streak on Wednesday. The reported volume totals were lighter than the prior session totals on both the NYSE and on the Nasdaq exchange, revealing a lack of institutional buying demand. Advancers led decliners by nearly a 4-1 margin on the NYSE and 5-2 on the Nasdaq exchange. There were 22 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, up from the total of 9 stocks on the prior session. New 52-week highs solidly outnumbered new 52-week lows on the NYSE while the new highs and new lows totals were virtually even on the Nasdaq exchange. There were gains for all of the 4 high-ranked companies currently included on the Featured Stocks Page, a list that has grown shorter as numerous leaders have broken down in recent weeks. The Market (M criteria) pullback earned the label of a "correction" as a result of recent pressure on the indices, especially the tech-heavy Nasdaq Composite Index, coupled with waning leadership (fewer stocks hitting new 52-week highs). Investors are reminded to limit losses by always selling any stock that falls more than -7% from their purchase price. This is precisely how the fact-based investment system prompts investors to reduce their overall market exposure during weak periods.
The Dow rose 162 points to 16,424. The S&P 500 gained 19 points to 1,862. The NASDAQ rallied 52 points to 4,086. The major averages advanced for a third straight session amid optimism on the economy and corporate profits. Before the open, reports showed manufacturing activity improved in March. The market added to its gains following commentary from the Fed. In a speech today, Janet Yellen indicated the central bank is likely to remain accommodative on interest rates for the foreseeable future. The Beige Book survey showed economic activity improved in most regions as the U.S. recovers from tough winter weather.
On the earnings front, Yahoo! (YHOO +6.26%) rallied as profits topped consensus estimates. Bank of America (BAC -1.59%) fell after posting a quarterly loss. Shares of Google (GOOGL +2.77%) ahead of its earnings release after the closing bell.
All 10 sectors in the S&P 500 were up on the session. Materials and industrials were the best performing groups as Dow Chemical (DOW +1.96%) and General Electric (GE +1.16%) rose. Railroad operator CSX (CSX -1.77%) was notable decliner, after providing a cautious earnings outlook.
Treasuries were mixed on the session. The 10-year note was down fractionally to yield 2.63%.
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 has rebounded above its 50-day moving average (DMA) line and finished within -1.25% of its all-time high.
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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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Broker/Dealer, Biotech, Retail, and Energy-Linked Groups Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +2.42%) posted a big gain on Wednesday while the Bank Index ($BKX +0.25%) posted a small gain. The Retail Index ($RLX +1.29%) was also a positive influence on the major averages. The Biotechnology Index ($BTK +2.51%) led the tech sector while the Networking Index ($NWX +0.48%) posted a smaller gain and the Semiconductor Index ($SOX -0.19%) edged lower. Energy-related shares had a positive bias as the Oil Services Index ($OSX +0.80%) and the Integrated Oil Index ($XOI +1.21%) rose, meanwhile the Gold & Silver Index ($XAU -1.13%) was a laggard as it edged lower.
Charts courtesy www.stockcharts.com
PICTURED: The Networking Index ($NWX +0.48%) recently halted its slide near a prior low.
| Oil Services |
$OSX |
294.22 |
+2.34 |
+0.80% |
+4.69% |
| Integrated Oil |
$XOI |
1,572.55 |
+18.72 |
+1.21% |
+4.62% |
| Semiconductor |
$SOX |
567.90 |
-1.10 |
-0.19% |
+6.14% |
| Networking |
$NWX |
328.24 |
+1.56 |
+0.48% |
+1.33% |
| Broker/Dealer |
$XBD |
152.71 |
+3.60 |
+2.42% |
-4.89% |
| Retail |
$RLX |
866.49 |
+11.02 |
+1.29% |
-7.80% |
| Gold & Silver |
$XAU |
90.83 |
-1.04 |
-1.13% |
+7.94% |
| Bank |
$BKX |
69.29 |
+0.17 |
+0.25% |
+0.04% |
| Biotech |
$BTK |
2,448.63 |
+59.85 |
+2.51% |
+5.07% |
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Submit Your Request for a Featured Stock Update
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Market conditions (the M criteria) are challenging at times. There are few stocks included on the Featured Stocks list and none of the companies need additional review in detail with annotated graphs. At times like these we have an opportunity to look back and review previously featured stocks which were dropped, which can serve as an educational review of the investment system's tactics and a reminder that high-ranked leaders eventually fall out of favor. If you wish to request for a specific stock to receive more detailed coverage in this section please use the inquiry form to submit your request. Thank you! |
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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 |
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Max Buy |
EQM
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NYSE
E Q T Midstream Partners
ENERGY - Oil and Gas Pipelines
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$76.20
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+3.25
4.46% |
$76.63
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91,852
80.57% of 50 DAV
50 DAV is 114,000
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$73.90
3.11%
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12/12/2013
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$53.17
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PP = $56.51
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MB = $59.34
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Most Recent Note - 4/16/2014 5:25:44 PM
G - Rallied for another new all-time high today. In strong shape, technically, despite fundamental concerns recently noted. Its 50 DMA line defines near-term support where a violation may trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Technical Strength Continues Despite Fundamental Concerns - 4/9/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
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GNRC
-
NYSE
Generac Hldgs Inc
Electrical-Power/Equipmt
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$57.33
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+0.44
0.77% |
$58.19
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351,408
44.65% of 50 DAV
50 DAV is 787,000
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$62.50
-8.27%
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2/14/2014
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$56.50
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PP = $57.39
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MB = $60.26
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Most Recent Note - 4/16/2014 5:27:53 PM
Y - Finding support near its 50 DMA line and prior highs in the $57 area and its color code is changed to yellow. More damaging losses below its recent low ($55.27 on 4/14/14) would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Finished Just Below its 50-Day Average Line - 4/11/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
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ICON
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NASDAQ
Iconix Brand Group Inc
CONSUMER NON-DURABLES - Textile - Apparel Footwear
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$37.41
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+0.21
0.56% |
$37.55
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249,472
42.21% of 50 DAV
50 DAV is 591,000
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$42.47
-11.91%
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3/7/2014
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$41.46
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PP = $40.88
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MB = $42.92
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Most Recent Note - 4/16/2014 5:30:20 PM
G - Halted its slide near its 200 DMA line but recent gains came on very light volume. Its Relative Strength rating has slumped to 80, the minimum rank for buy candidates under the fact-based system. A rebound above the 50 DMA line is needed to help its outlook.
>>> FEATURED STOCK ARTICLE : Violated 50-Day Average and Relative Strength Rank Fell - 4/10/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
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PSIX
-
NASDAQ
Power Solutions Intl Inc
Machinery-Gen Industrial
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$76.66
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+3.16
4.30% |
$77.96
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149,674
226.78% of 50 DAV
50 DAV is 66,000
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$87.40
-12.29%
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2/28/2014
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$74.65
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PP = $76.93
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MB = $80.78
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Most Recent Note - 4/16/2014 5:24:19 PM
Y - Rebounded above its 50 DMA line with higher volume behind today's 4th consecutive gain and its color code is changed to yellow. The recent low ($66.03 on 4/07/14) defines important near-term support below the 50 DMA line where further deterioration would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Halted Slide After Slump Below 50-Day Moving Average - 4/14/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
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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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