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AFTER MARKET UPDATE - TUESDAY, MAY 28TH, 2024
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DOW |
-216.73 |
38,852.86 |
-0.55% |
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Volume |
923,262,071 |
+24% |
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Volume |
6,444,212,400 |
+9% |
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NASDAQ |
+99.09 |
17,019.88 |
+0.59% |
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Advancers |
968 |
35% |
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Advancers |
1,814 |
42% |
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S&P 500 |
+1.32 |
5,306.04 |
+0.02% |
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Decliners |
1,785 |
65% |
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Decliners |
2,463 |
58% |
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Russell 2000 |
-2.82 |
2,066.85 |
-0.14% |
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52 Wk Highs |
122 |
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52 Wk Highs |
137 |
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S&P 600 |
-4.77 |
1,315.82 |
-0.36% |
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52 Wk Lows |
52 |
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52 Wk Lows |
119 |
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Major Indices Were Mixed as Nasdaq Composite Cleared 17,000
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow Jones Industrial Average closed more than 200 points lower on Tuesday while the Nasdaq Composite (+0.6%) closed at a fresh record high, above 17,000 for the first time. The S&P 500 Index finished little changed after it had been down as much as -0.4%. Volume was higher on both major exchanges. Breadth was negative as decliners led advancers by almost a 2-1 margin on the NYSE and by a 4-3 margin on the Nasdaq exchange. There were 68 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus the total of 67 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria).
PICTURED: The S&P 600 Small Cap Index is consolidating above its 50-day moving average (DMA) line after 7 losses in the past 8 sessions.
There was a stronger-than-expected Consumer Confidence report for May. NVIDIA (NVDA +6.98%) rallied to a new record high on the notion that xAI's $6 billion capital raise will benefit the AI chipmaker. The information technology sector was one of only three S&P 500 sectors to close with a gain, benefitting from the big upside move in NVDA and smaller gains in other mega caps.
The 2-yr note yield settled three basis points higher at 4.98% and the 10-yr note yield rose eight basis points to 4.54%. The fresh $69 billion 2-yr note and $70 billion 5-yr note sales met weak demand.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Semiconductor, Retail, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX -1.03%) and the Broker/Dealer Index ($XBD -0.69%) both lost ground while the Retail Index ($RLX +0.44%) posted a modest gain on Tuesday's session. The Semiconductor Index ($SOX +1.86%) posted a solid gain while the Networking Index ($NWX -0.16%) and the Biotech Index ($BTK -0.59%) each lost a little ground. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +2.72%) outpaced the Oil Services ($OSX +1.70%) and the Integrated Oil Index ($XOI +1.20%).
![]() PICTURED: The Integrated Oil Index ($XOI +1.20%) is consolidating below its 50-day moving average (DMA) line in recent weeks.
| Oil Services |
$OSX |
86.07 |
+1.44 |
+1.70% |
+2.61% |
| Integrated Oil |
$XOI |
2,089.67 |
+24.76 |
+1.20% |
+12.20% |
| Semiconductor |
$SOX |
5,317.87 |
+96.95 |
+1.86% |
+27.36% |
| Networking |
$NWX |
789.38 |
-1.27 |
-0.16% |
-5.21% |
| Broker/Dealer |
$XBD |
629.54 |
-4.38 |
-0.69% |
+12.96% |
| Retail |
$RLX |
4,344.87 |
+19.17 |
+0.44% |
+11.73% |
| Gold & Silver |
$XAU |
147.37 |
+3.91 |
+2.72% |
+17.25% |
| Bank |
$BKX |
103.79 |
-1.09 |
-1.03% |
+8.09% |
| Biotech |
$BTK |
5,180.36 |
-30.78 |
-0.59% |
-4.40% |
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Pulled Back Below Prior Highs Raising Concerns
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
PDD Holdings (PDD $7.85 or -4.98% to $149.72) retreated abruptly today with a volume-driven loss undercutting the prior high raising concerns. It was highlighted in yellow in the 5/24/24 mid-day report with pivot point cited based on its 1/11/24 high plus 10 cents (read here). The Retail-Internet firm rallied to new 52-week highs with 3 consecutive volume-driven gains clearing a 20-week base during which it found prompt support at its 200 DMA line.
It has a highest possible Earnings Per Share Rating of 99. Quarterly comparisons through Mar '24 showed encouraging sales revenues and greatly improved earnings versus the year-ago periods with growth rate acceleration. After years of losses, it had a profitable FY '21-23 helping it better match the fundamental annual earnings (A criteria) guidelines of the fact-based investment system.
The number of top-rated funds owning its shares rose from 1,487 in Jun '23 to 1,855 in Mar '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 50 days. It has an A Timelinesss Rating and a B Sponsorship Rating.
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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 |
TDG
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NYSE
TransDigm Group
Aerospace/Defense
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$1,317.94
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-32.37
-2.40% |
$1,363.66
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198,159
98.59% of 50 DAV
50 DAV is 201,000
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$1,350.31
-2.40%
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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 - 5/24/2024 5:49:50 PM
G - Posted a gain today with below-average volume hitting another new all-time high. It is extended from any sound base and its 50 DMA line ($1,251) defines near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Aerospace/Defense Firm Hitting Another All-Time High - 5/21/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$343.89
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-6.30
-1.80% |
$351.00
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25,188
96.88% of 50 DAV
50 DAV is 26,000
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$378.78
-9.21%
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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 - 5/24/2024 5:50:53 PM
G - Pulled back today for an 8th consecutive small loss without heavy volume. Stubbornly holding its ground following noted volume-driven gains into new all-time high territory. Its 50 DMA line ($320) defines important near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Stubbornly Held Ground and Posted Quiet Gain for Best-Ever Close - 5/14/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$59.41
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+0.61
1.04% |
$61.06
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2,630,685
114.38% of 50 DAV
50 DAV is 2,300,000
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$58.99
0.71%
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5/15/2024
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$51.52
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PP = $51.22
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MB = $53.78
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Most Recent Note - 5/24/2024 5:43:12 PM
G - Hit yet another new all-time high with today's 3rd consecutive volume-driven gain, getting more extended from any sound base. Prior highs in the $51 area define initial support to watch above its 50 DMA line ($47).
>>> FEATURED STOCK ARTICLE : Strong Breakout After 6-Week Flat Base - 5/15/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
Chart |
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C
A
S
I |
AROC
-
NYSE
Archrock
OilandGas-Machinery/Equip
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$19.70
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-0.09
-0.45% |
$20.05
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1,214,544
82.17% of 50 DAV
50 DAV is 1,478,000
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$21.61
-8.84%
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5/20/2024
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$21.23
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PP = $21.50
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MB = $22.58
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Most Recent Note - 5/24/2024 5:42:00 PM
G - Color code is changed to green after slumping below its 50 DMA line ($19.94) raising concerns. Only a prompt rebound above the 50 DMA line would help its outlook improve. There was a "negative reversal" and it closed near the session low on 5/21/24 after hitting new multi-year highs.
>>> FEATURED STOCK ARTICLE : Strong Finish for Archrock After Highlighted in Mid-Day Report - 5/20/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
DECK
-
NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg
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$1,079.14
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+46.24
4.48% |
$1,079.87
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677,322
141.11% of 50 DAV
50 DAV is 480,000
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$1,036.98
4.07%
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5/24/2024
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$1,010.60
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PP = $956.27
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MB = $1,004.08
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Most Recent Note - 5/28/2024 6:07:06 PM
G - Color code is changed to green today after rallying well above its "max buy" level, quickly getting extended from prior highs. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Big "Breakaway Gap" for Deckers Outdoor - 5/24/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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 |
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Max Buy |
ELF
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NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$193.24
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+1.82
0.95% |
$193.64
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1,478,438
87.38% of 50 DAV
50 DAV is 1,692,000
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$221.83
-12.89%
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5/24/2024
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$193.79
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PP = $182.73
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MB = $191.87
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Most Recent Note - 5/24/2024 5:46:41 PM
Y - Color code was changed to yellow in the earlier mid-day report with pivot point cited based on its 4/29/24 high after breaking out a "double-bottom" base. Rallied further after gapping up and rebounding above its 50 DMA line ($173.55) with a volume-driven gain on the prior session helping its technical stance and outlook improve. Found support above its 200 DMA line since dropped from the Featured Stocks list on 4/03/24. Reported Mar '24 quarterly earnings +26% on +71% sales revenues versus the year-ago period and fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : ELF Consolidating Above 50-Day Moving Average Line - 3/28/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
PDD
-
NASDAQ
PDD Holdings ADR
Retail-Internet
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$149.72
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-7.85
-4.98% |
$160.00
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17,822,164
172.68% of 50 DAV
50 DAV is 10,321,000
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$164.69
-9.09%
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5/24/2024
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$161.85
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PP = $153.09
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MB = $160.74
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Most Recent Note - 5/28/2024 6:05:28 PM
Y - Retreated today with a volume-driven loss undercutting the prior high raising concerns. Color code was changed to yellow in the 5/24/24 mid-day report with pivot point cited based on its 1/11/24 high plus 10 cents. Rallied to new 52-week highs with 3 consecutive volume-driven gains clearing a 20-week base during which it found prompt support at its 200 DMA line. Quarterly comparisons through Mar '24 showed encouraging sales revenues and greatly improved earnings versus the year-ago periods with growth rate acceleration. After years of losses, it had a profitable FY '21-23 helping it better match the fundamental annual earnings (A criteria) guidelines of the fact-based investment system. See the latest FSU analysis for more details and a new annotated graph.
There are no Featured Stock Updates™ available for this stock at this time. You may request one by clicking the Request a New Note link below |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
|
$346.82
|
-4.65
-1.32% |
$358.84
|
3,228,028
134.33% of 50 DAV
50 DAV is 2,403,000
|
$365.00
-4.98%
|
5/28/2024
|
$351.47
|
PP = $365.10
|
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MB = $383.36
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Most Recent Note - 5/28/2024 12:09:32 PM
Y - Color code is changed to yellow with pivot point cited based on its 3/06/24 high plus 10 cents. Perched near its 52-week high after wedging back above its 50 DMA line. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a new technical buy signal. It was dropped from the Featured Stocks list on 4/17/24. Due to report Apr '24 quarterly results on 6/04/24. Fundamentals have been strong through the Jan '24 quarter when it reported 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 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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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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