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AFTER MARKET UPDATE - THURSDAY, JULY 18TH, 2024
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DOW |
-552.39 |
40,645.69 |
-1.34% |
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Volume |
478,081,453 |
-52% |
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Volume |
5,235,990,700 |
-13% |
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NASDAQ |
-193.05 |
17,803.87 |
-1.07% |
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Advancers |
610 |
22% |
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Advancers |
971 |
23% |
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S&P 500 |
-56.76 |
5,531.51 |
-1.02% |
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Decliners |
2,159 |
78% |
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Decliners |
3,251 |
77% |
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Russell 2000 |
-48.51 |
2,191.16 |
-2.17% |
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52 Wk Highs |
241 |
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52 Wk Highs |
223 |
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S&P 600 |
-24.33 |
1,386.63 |
-1.72% |
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52 Wk Lows |
10 |
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52 Wk Lows |
67 |
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Major Indices Ended Solidly Down With Breadth Turning Negative
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Thursday was a solidly down day for the S&P 500 (-0.8%), Nasdaq Composite (-0.7%), Dow Jones Industrial Average (-1.3%), and Russell 2000 (-1.9%) as each closed near their session low. Volume was lower than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by more than a 3-1 margin on the NYSE and on the Nasdaq exchange. There were 96 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 127 on the prior session. New 52-week highs totals contracted yet still solidly outnumbered new 52-week lows on both the NYSE and Nasdaq exchange. The major indices are in an uptrend that has been encountering pressure (M criteria). Remember that any uptrend requires healthy leadership and it remains important for a countining flow of stocks hitting new highs.
PICTURED: The Nasdaq Composite Index suffered a 2nd consecutive loss, retreating from its all-time high.
The health care (-2.3%), financial (-1.3%), and consumer discretionary sector (-1.3%) sectors were laggards while the energy sector (+0.3%) was alone in positive territory. Apple (AAPL -2.05%), Microsoft (MSFT -0.71%), and Amazon.com (AMZN -2.22%) were among the influential losers due to ongoing profit-taking activity. Domino's Pizza (DPZ -13.57%) had the steepest decline among S&P 500 components after reporting earnings. A solid earnings-related gain in D.R. Horton (DHI +10.10%) drove it and other homebuilder stocks quickly higher.
The weekly jobless claims report showed a sizable increase in initial claims. The 10-yr note yield settled four basis points higher at 4.19% and the 2-yr note yield settled three basis points higher at 4.46%.
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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, Financial, Biotech, and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.98%) outpaced the Bank Index ($BKX -1.87%) and the Broker/Dealer Index ($XBD -0.75%) on the widely negative session. The Semiconductor Index ($SOX +0.58%) bounced back for a small part of the prior session's loss while the Biotech Index ($BTK -1.42%) and the Networking Index ($NWX -0.91%) also posted losses. The Gold & Silver Index ($XAU -1.94%) outpaced the Oil Services Index ($OSX -0.81%) to the downside and the Integrated Oil Index ($XOI -0.15%) finished flat.
PICTURED: The Networking Index ($NWX -0.91%) had a "negative reversal" and ended the session lower after initially spiking to a new 2024 high.
| Oil Services |
$OSX |
90.98 |
-0.67 |
-0.74% |
+8.46% |
| Integrated Oil |
$XOI |
2,072.34 |
-3.31 |
-0.16% |
+11.27% |
| Semiconductor |
$SOX |
5,382.13 |
-26.59 |
-0.49% |
+28.90% |
| Networking |
$NWX |
876.91 |
-10.92 |
-1.23% |
+5.30% |
| Broker/Dealer |
$XBD |
652.63 |
-5.13 |
-0.78% |
+17.11% |
| Retail |
$RLX |
4,588.83 |
-76.56 |
-1.64% |
+18.00% |
| Gold & Silver |
$XAU |
151.07 |
-3.61 |
-2.34% |
+20.19% |
| Bank |
$BKX |
112.22 |
-2.46 |
-2.14% |
+16.87% |
| Biotech |
$BTK |
5,486.88 |
-86.96 |
-1.56% |
+1.26% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
TDG
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NYSE
TransDigm Group
Aerospace/Defense
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$1,241.87
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+0.40
0.03% |
$1,263.26
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193,364
76.13% of 50 DAV
50 DAV is 254,000
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$1,369.58
-9.33%
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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 - 7/17/2024 5:31:13 PM
G - Pulled back today with lighter volume. Recently lingering below its 50 DMA line ($1,303) which is now downward sloping. It is -9.4% off its all-time high. A rebound above the 50 DMA line is needed to help its outlook improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Lingering Below 50-Day Moving Average But Only -7% Off High - 7/10/2024 |
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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$77.32
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-0.80
-1.02% |
$79.63
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29,270
24.81% of 50 DAV
50 DAV is 118,000
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$84.19
-8.16%
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6/18/2024
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$71.26
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PP = $75.77
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MB = $79.56
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Most Recent Note - 7/17/2024 5:25:36 PM
Y - Pulled back today with below-average volume after hitting a new all-time high on the prior session. Found support while consolidating above its 50 DMA line ($71.50). Do not be confused as shares split 5:1 (Featured Price and Pivot Point were adjusted). Color code was changed to yellow with new pivot point cited based on its 5/15/24 high plus 10 cents as it was noted - " Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal."
>>> FEATURED STOCK ARTICLE : in Striking Distance of All-Time High After Volume-Driven Gains - 6/28/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$55.57
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-1.27
-2.23% |
$58.07
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2,232,675
103.75% of 50 DAV
50 DAV is 2,152,000
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$63.49
-12.47%
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7/6/2024
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$57.62
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PP = $61.16
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MB = $64.22
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Most Recent Note - 7/18/2024 3:55:25 PM
Y - Pulling back today for a 2nd consecutive volume-driven loss testing its 50 DMA line after quietly touching a new all-time high. Repeatedly noted - "A gain backed by at least +40% above average volume and a close above the new pivot point cited based on its 5/28/24 high plus 10 cents may trigger a proper technical buy signal. Important support is at its 50 DMA line ($54.60)."
>>> FEATURED STOCK ARTICLE : Consolidating Above Prior Highs in an Orderly Fashion - 6/27/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$170.87
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+0.17
0.10% |
$179.94
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1,551,762
98.03% of 50 DAV
50 DAV is 1,583,000
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$221.83
-22.97%
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6/18/2024
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$212.40
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PP = $221.93
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MB = $233.03
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Most Recent Note - 7/17/2024 5:20:05 PM
G - Color code is changed to green after a 3rd consecutive loss with above-average volume today violated its 50 DMA line ($187) triggering a technical sell signal. A rebound above the 50 DMA line is needed for this outlook to improve.
>>> FEATURED STOCK ARTICLE : Challenging Prior Resistance Area - 7/12/2024 |
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
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$339.28
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-15.66
-4.41% |
$352.20
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3,700,039
72.01% of 50 DAV
50 DAV is 5,138,000
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$398.33
-14.82%
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5/28/2024
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$351.47
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PP = $365.10
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MB = $383.36
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Most Recent Note - 7/18/2024 3:50:43 PM
G - Gapped down for a 2nd consecutive session today and on track for its 3rd consecutive loss. Violated prior highs in the $358-365 area and undercut its 50 DMA line ($358) triggering technical sell signals. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Consolidating Near Prior Highs Which Define Support - 7/15/2024 |
View all notes |
Set NEW NOTE alert |
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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 |
NVO
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NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$129.49
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-5.93
-4.38% |
$134.97
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8,752,839
239.02% of 50 DAV
50 DAV is 3,662,000
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$148.15
-12.60%
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6/7/2024
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$143.06
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PP = $138.38
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MB = $145.30
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Most Recent Note - 7/18/2024 12:01:52 PM
G - Abruptly slumping with heavier volume behind today's damaging loss. Color code was changed to green after violating its 50 DMA line ($138.08) raising concerns and triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Perched Near All-Time High Following Recent Gap Up With Volume - 7/1/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$64.20
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-0.40
-0.62% |
$66.26
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173,893
28.18% of 50 DAV
50 DAV is 617,000
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$66.72
-3.78%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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Most Recent Note - 7/17/2024 5:29:45 PM
Y - Pulled back today with lighter volume while retreating from its all-time high, breaking a streak of 5 consecutive gains. Prior highs in the $64 area define initial support to watch above its 50 DMA line ($61.79).
>>> FEATURED STOCK ARTICLE : Granite Testing Support at 50-Day Moving Average - 7/2/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
DDOG
-
NASDAQ
Datadog Inc
Computer Sftwr-Enterprse
|
$118.26
|
-2.90
-2.39% |
$123.21
|
2,708,634
64.25% of 50 DAV
50 DAV is 4,216,000
|
$138.61
-14.68%
|
7/9/2024
|
$126.92
|
PP = $138.71
|
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MB = $145.65
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Most Recent Note - 7/18/2024 3:53:57 PM
G - Violated its 50 DMA line ($120.59) with today's loss raising concerns and its color code is changed to green. Only a prompt rebound above the 50 DMA line would help its outlook improve. The next important support is at its 200 DMA line ($117).
>>> FEATURED STOCK ARTICLE : Consolidating Within Close Range of 52-Week High - 7/9/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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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only to active Paid Premium Members.
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