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AFTER MARKET UPDATE - MONDAY, JULY 22ND, 2024
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DOW |
+127.91 |
40,415.44 |
+0.32% |
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Volume |
861,719,051 |
-28% |
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Volume |
5,176,467,900 |
+3% |
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NASDAQ |
+280.63 |
18,007.57 |
+1.58% |
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Advancers |
2,027 |
74% |
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Advancers |
3,027 |
70% |
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S&P 500 |
+59.41 |
5,564.41 |
+1.08% |
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Decliners |
706 |
26% |
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Decliners |
1,266 |
29% |
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Russell 2000 |
+36.30 |
2,220.65 |
+1.66% |
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52 Wk Highs |
97 |
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52 Wk Highs |
99 |
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S&P 600 |
+20.54 |
1,400.98 |
+1.49% |
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52 Wk Lows |
21 |
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52 Wk Lows |
95 |
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Major Indices Rose With Positive Breadth
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 settled +1.1% higher while the Nasdaq Composite Index rose +1.6% but the Dow Industrials lagged with a gain of +0.3%. Volume reported was mixed, lower than the prior session total on the NYSE but higher on the Nasdaq exchange. Breadth was positive as advancers led decliners by almost a 3-1 margin on the NYSE and by 5-2 on the Nasdaq exchange. Leadership improved as there were 45 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 18 on the prior session. New 52-week highs totals expanded and outnumbered new 52-week lows on the NYSE and on the 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 Dow Jones Industrial Average is perched near its all-time high.
NVIDIA (NVDA +4.78%), Meta Platforms (META +2.23%), and Microsoft (MSFT +1.33%) were among the influential winners. Nine of the 11 S&P 500 sectors ended higher. The information technology (+2.0%) and communication services (+1.2%) sectors led as the industrial (+1.1%) and real estate (+1.0%) sectors also jumped at least +1.0%. Meanwhile, the energy sector logged the biggest decline amid falling oil prices ($78.43/bbl, -0.26, -0.3%). The 10-yr note yield settled two basis points higher at 4.26% and the 2-yr note yield settled one basis point higher at 4.52%.
On Tuesday the June Existing Home Sales report is due. Additional influence will come from General Motors (GM), UPS (UPS), Albertsons (ACI), Lockheed Martin (LMT), Coca-Cola (KO), Philip Morris International (PM), and other firms due to report earnings ahead of Tuesday's open.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Semiconductor Index Led Techs and Financials Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +0.50%) and the Broker/Dealer Index ($XBD +1.49%) both posted gains while the Retail Index ($RLX -0.02%) finished flat on Monday's session. The Semiconductor Index ($SOX +4.00%) led the tech sector higher while the Networking Index ($NWX +1.10%) and the Biotech Index ($BTK +0.99%) both posted smaller gains. The Gold & Silver Index ($XAU +0.28%) inched higher while the Oil Services Index ($OSX -0.48%) and the Integrated Oil Index ($XOI -0.60%) both finished the session lower.
PICTURED: The Bank Index ($BKX +0.50%) is consolidating after rallying to new 2024 highs.
| Oil Services |
$OSX |
89.22 |
-0.43 |
-0.48% |
+6.37% |
| Integrated Oil |
$XOI |
2,035.06 |
-12.28 |
-0.60% |
+9.27% |
| Semiconductor |
$SOX |
5,477.83 |
+210.67 |
+4.00% |
+31.19% |
| Networking |
$NWX |
878.80 |
+9.58 |
+1.10% |
+5.52% |
| Broker/Dealer |
$XBD |
662.40 |
+9.73 |
+1.49% |
+18.86% |
| Retail |
$RLX |
4,478.32 |
-0.99 |
-0.02% |
+15.16% |
| Gold & Silver |
$XAU |
150.32 |
+0.42 |
+0.28% |
+19.59% |
| Bank |
$BKX |
112.93 |
+0.57 |
+0.50% |
+17.61% |
| Biotech |
$BTK |
5,564.36 |
+54.77 |
+0.99% |
+2.69% |
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Recent Breakout Triggered New (or Add-On) Technical Buy Signal
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
U.S. Lime & Minerals (USLM +$2.87 or +3.61% to $82.42) posted a gain for a best-ever close today near its all-time high. Volume totals recently cooled following noted volume-driven gains. Prior highs in the $74-75 area define initial support to watch above its 50-day moving average (DMA) line ($71.88). Do not be confused as shares split 5:1 (Featured Price and Pivot Point were adjusted). The latest pivot point cited was based on its 5/15/24 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume triggered a new (or add-on) technical buy signal.
Fundamentals remain strong. USLM reported Mar '24 quarterly earnings +31% on +7% sales revenues versus the year-ago period. USLM has a highest possible Earnings Per Share Rating of 99. Prior quarterly and annual earnings (C and A criteria) history has been strong, a good match with the fact-based investment system's guidelines. Its shares split 5:1 effective on 7/15/24 and still the thinly-traded firm has only 28.5 million shares outstanding (S criteria), which can contribute to greater price volatility in the event of institutional buying or selling.
USLM was highlighted in yellow in the 2/09/24 mid-day report (read here). It was last shown in this FSU section on 6/28/24 with an annotated graph under the headline, "In Striking Distance of All-Time High After Volume-Driven Gains". The number of top-rated funds owning its shares rose from 192 in Mar '23 to 238 in Mar '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.0 is an unbiased indication its shares have been neutral concerning accumulation/distribution over the past 50 days. It has an Accumulation/Distribution rating of A and a Timeliness rating of B. |
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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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$1,255.85
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+17.78
1.44% |
$1,259.36
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193,572
78.69% of 50 DAV
50 DAV is 246,000
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$1,369.58
-8.30%
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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 - 7/22/2024 5:41:59 PM
G - Posted a small gain today with below-average volume. Recently lingering below its 50 DMA line ($1,299) which is now downward sloping. It is -8.3% off its all-time high. A rebound above the 50 DMA line is needed to improve its outlook. 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 |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$82.42
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+2.87
3.61% |
$82.59
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86,198
76.96% of 50 DAV
50 DAV is 112,000
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$84.19
-2.10%
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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 - 7/22/2024 5:39:15 PM
G - Posted a gain today with below-average volume, ending at a best-ever close near its all-time high. Color code is changed to green after rising above its "max buy" level. Found support while consolidating above its 50 DMA line ($72). Do not be confused as shares split 5:1 (Featured Price and Pivot Point were adjusted).
>>> FEATURED STOCK ARTICLE : Recent Breakout Triggered New (or Add-On) Technical Buy Signal - 7/22/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
CLS
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NYSE
Celestica
Elec-Contract Mfg
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$56.90
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+0.40
0.71% |
$58.00
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1,721,126
80.09% of 50 DAV
50 DAV is 2,149,000
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$63.49
-10.38%
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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 - 7/19/2024 4:52:21 PM
Y - Halted its slide today following 2 consecutive volume-driven losses 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)." See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line After Wedging to New High - 7/19/2024 |
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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$169.57
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-7.95
-4.48% |
$178.63
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2,616,591
161.72% of 50 DAV
50 DAV is 1,618,000
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$221.83
-23.56%
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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 - 7/22/2024 5:44:35 PM
Suffered another loss today with heavier volume indicative of distributional pressure, sinking toward its 200 DMA line ($160). A rebound above the 50 DMA line ($188) is needed for this outlook to improve. It will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Challenging Prior Resistance Area - 7/12/2024 |
View all notes |
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News |
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C
A
S
I |
NVO
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NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$133.18
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+1.64
1.25% |
$133.26
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2,687,397
70.96% of 50 DAV
50 DAV is 3,787,000
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$148.15
-10.10%
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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 |
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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 |
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Max Buy |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$65.57
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+1.02
1.58% |
$65.84
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400,925
65.62% of 50 DAV
50 DAV is 611,000
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$66.72
-1.72%
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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 - 7/22/2024 5:40:36 PM
Y - Posted a small gain today with lighter volume while hovering near its all-time high. Prior highs in the $64 area define initial support to watch above its 50 DMA line ($62).
>>> FEATURED STOCK ARTICLE : Granite Testing Support at 50-Day Moving Average - 7/2/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
DDOG
-
NASDAQ
Datadog Inc
Computer Sftwr-Enterprse
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$121.22
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+2.19
1.84% |
$122.57
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3,190,205
84.13% of 50 DAV
50 DAV is 3,791,800
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$138.61
-12.55%
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7/9/2024
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$126.92
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PP = $138.71
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MB = $145.65
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Most Recent Note - 7/22/2024 5:48:13 PM
Y - Color code is changed to yellow after rebounding and closing above its 50 DMA line ($120.80) as today's gain backed by higher (but still -16% below-average) volume helped its outlook improve. The next important support is at its 200 DMA line ($117.54).
>>> 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 |
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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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
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by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
or 954-785-1121.
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