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AFTER MARKET UPDATE - TUESDAY, JULY 29TH, 2014
Previous After Market Report Next After Market Report >>>
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DOW |
-70.48 |
16,912.11 |
-0.42% |
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Volume |
614,987,740 |
+7% |
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Volume |
1,959,647,060 |
+18% |
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NASDAQ |
-2.21 |
4,442.70 |
-0.05% |
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Advancers |
1,194 |
38% |
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Advancers |
1,396 |
49% |
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S&P 500 |
-8.96 |
1,969.95 |
-0.45% |
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Decliners |
1,831 |
58% |
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Decliners |
1,347 |
47% |
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Russell 2000 |
+2.14 |
1,141.64 |
+0.19% |
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52 Wk Highs |
106 |
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52 Wk Highs |
72 |
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S&P 600 |
+0.97 |
658.29 |
+0.15% |
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52 Wk Lows |
50 |
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52 Wk Lows |
64 |
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Major Averages Ended Slightly Lower
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks declined on Tuesday’s session. The Dow fell 70 points to 16,912. The S&P 500 was down 9 points to 1,969. The NASDAQ slipped 2 points to 4,442. The volume totals were higher than the prior session volume totals on the NYSE and on the Nasdaq exchange, a sign of distributional pressure. Breadth was negative as decliners led advancers by a 3-2 margin on the NYSE while advancers narrowly led decliners on the Nasdaq exchange. There were 26 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, versus the prior session total of 21 stocks. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. There were gains for 4 of the 14 of the high-ranked companies currently included on the Featured Stocks Page. The market (M criteria) uptrend recently faced pressure, however a healthy level of leadership has been reassuring. Disciplined investors limit losses and reduce market exposure during rough market periods by selling any stocks which fall more than -7% from their purchase price.
PICTURED: The Dow Jones Industrial Average is consolidating above its 50-day moving average (DMA) line.
The major averages finished lower as geopolitical concerns overshadowed generally positive earnings releases. The market retreated after the U.S and European Union announced additional sanctions against Russia. Merck (MRK +1.05%) and Masco (MAS +7.1%) rose as both companies delivered better-than-expected quarterly results.
On the economic front, consumer confidence increased in July to its best level since October 2007. A separate release revealed home prices rose at a slower pace in May. The Fed is expected to announce a further reduction of its monthly asset purchases at the conclusion of its two-day policy meeting tomorrow.
Seven of 10 sectors in the S&P 500 were down on the session. Industrials and utilities were the worst performing groups. Shares of United Parcel Service (UPS -3.7%) fell after lowering its full-year outlook. Southern Company (SO -1.1%) declined. Telecom was the best performing sector. Windstream Holdings (WIN +12.35%) rallied after announcing plans to spin-off certain assets into publicly traded real estate investment trust.
Treasuries rose with the 10-year note up 7/32 to yield 2.46%
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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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Biotech Index Posted Standout Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Biotechnology Index ($BTK +2.46%) was a standout gainer as it led the tech sector while the Networking Index ($NWX -0.54%) and the Semiconductor Index ($SOX -0.25%) both edged lower. The Bank Index ($BKX -0.45%) lost ground while the Broker/Dealer Index ($XBD +0.13%) eked out a small gain and the Retail Index ($RLX +0.01%) finished flat. Commodity-linked groups had a slightly negative bias as the Gold & Silver Index ($XAU -0.32%), Integrated Oil Index ($XOI -0.32%), and the Oil Services Index ($OSX -0.31%) edged lower.
Charts courtesy www.stockcharts.com
PICTURED: The Bank Index ($BKX -0.45%) is consolidating above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
298.14 |
-0.94 |
-0.31% |
+6.09% |
| Integrated Oil |
$XOI |
1,677.23 |
-5.36 |
-0.32% |
+11.58% |
| Semiconductor |
$SOX |
614.43 |
-1.57 |
-0.25% |
+14.84% |
| Networking |
$NWX |
332.29 |
-1.82 |
-0.54% |
+2.58% |
| Broker/Dealer |
$XBD |
159.48 |
+0.21 |
+0.13% |
-0.68% |
| Retail |
$RLX |
888.87 |
+0.10 |
+0.01% |
-5.42% |
| Gold & Silver |
$XAU |
101.86 |
-0.33 |
-0.32% |
+21.05% |
| Bank |
$BKX |
70.78 |
-0.32 |
-0.45% |
+2.19% |
| Biotech |
$BTK |
2,799.51 |
+67.15 |
+2.46% |
+20.13% |
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Encountered Resistance at 50-Day Moving Average Line
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Grifols Sa Ads (GRFS -$0.17 or -0.40% to $42.24) encountered resistance again today at its 50-day moving average (DMA) line. A rebound above that important short-term average is still needed for its outlook to improve. A subsequent violation of its recent low ($39.86 on 7/10/14) would raise more serious concerns and trigger more worrisome sell signals. Meanwhile it faces resistance due to overhead supply up through the $46 area.
GRFS was last shown in this FSU section on 7/09/14 with annotated graphs under the headline, "Violation of 50-Day Moving Average Triggered Technical Sell Signal", after it had slumped below its 50 DMA line with damaging losses on higher volume. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price.
This Spanish firm from the Medical- Ethical Drugs industry was first highlighted in yellow at $41.14 with pivot point cited based on its 3/11/14 high plus 10 cents in the 5/15/14 mid-day report (read here). Technically, it triggered a buy signal with a volume-driven gain on 6/06/14 but stalled soon thereafter.
Keep in mind that volume and volatility often increase near earnings news and its Jun '14 quarterly report is due soon. It reported earnings +34% on +25% sales revenues for the Mar '14 quarter, marking its 4th consecutive quarter with earnings above the +25% minimum guideline (C criteria). Its annual earnings history (A criteria) has also been strong. The number of top-rated funds owning its shares rose from 186 in Sep '13 to 196 in Jun '14, a reassuring sign of institutional buying demand (I criteria). Its current Up/Down Volume Ratio of 1.1 is an unbiased indication that its shares have been under very slight accumulation over the past 50 days.
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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 |
ACT
-
NYSE
Actavis plc
Medical-Generic Drugs
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$214.85
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-0.09
-0.04% |
$215.96
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1,614,436
75.80% of 50 DAV
50 DAV is 2,130,000
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$230.77
-6.90%
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6/20/2014
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$216.53
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PP = $230.87
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MB = $242.41
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Most Recent Note - 7/29/2014 8:09:11 PM
Y - Quietly edged below its 50 DMA line ($215.53) with today's 4th consecutive loss. Still only -6.9% off its 52-week high. Subsequent volume-driven gains to new highs may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Disciplined Investors Still Awaiting Technical Breakout - 7/16/2014
View all notes |
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Chart |
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C
A N
S L
I M
|
AFSI
-
NASDAQ
Amtrust Financial Svcs
INSURANCE - Property and; Casualty Insurance
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$43.06
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+0.16
0.37% |
$43.39
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612,286
104.49% of 50 DAV
50 DAV is 586,000
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$47.10
-8.58%
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5/21/2014
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$44.85
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PP = $44.85
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MB = $47.09
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Most Recent Note - 7/29/2014 8:11:13 PM
G - Small gains this week helped it rebound above its 50 DMA line helping its technical stance and outlook improve. Faces little resistance due to overhead supply up through the $47 level.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Line Acted as Recent Resistance - 7/23/2014
View all notes |
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C
A N
S L
I M
|
BITA
-
NYSE
Bitauto Hldgs Ltd Ads
Internet-Content
|
$56.53
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-1.26
-2.18% |
$57.79
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655,795
73.44% of 50 DAV
50 DAV is 893,000
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$58.50
-3.37%
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6/26/2014
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$46.20
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PP = $47.03
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MB = $49.38
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Most Recent Note - 7/29/2014 8:07:00 PM
G - Small loss today on higher but below average volume. It remains extended from its prior base after recently wedging higher. Prior highs and its 50 DMA line coincide in the $46 area defining important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Strength Returned After Shake-Out and Positive Reversal - 7/21/2014
View all notes |
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News |
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C
A N
S L
I M
|
BWLD
-
NASDAQ
Buffalo Wild Wings Inc
LEISURE - Restaurants
|
$167.15
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+2.42
1.47% |
$167.64
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1,365,211
366.99% of 50 DAV
50 DAV is 372,000
|
$167.36
-0.13%
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6/19/2014
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$158.52
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PP = $159.91
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MB = $167.91
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Most Recent Note - 7/29/2014 12:18:37 PM
Y - Challenging its 52-week high with today's 6th consecutive gain after finding prompt support at its 50 DMA line. Little resistance remains due to overhead supply up through the $167 level.
>>> FEATURED STOCK ARTICLE : Slump Into Prior Base Negated Recent Breakout - 7/14/2014
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C
A N
S L
I M
|
EQM
-
NYSE
E Q T Midstream Partners
ENERGY - Oil and Gas Pipelines
|
$92.00
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-1.75
-1.87% |
$94.98
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187,173
57.95% of 50 DAV
50 DAV is 323,000
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$102.51
-10.25%
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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 - 7/23/2014 4:11:34 PM
G - Still consolidating in an orderly fashion well above its 50 DMA line. Strength has continued despite fundamental flaws repeatedly noted.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Consolidating Near Highs - 7/17/2014
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C
A N
S L
I M
|
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 |
FB
-
NASDAQ
Facebook Inc Cl A
INTERNET
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$73.71
|
-1.21
-1.62% |
$74.92
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40,235,237
89.11% of 50 DAV
50 DAV is 45,153,000
|
$76.74
-3.95%
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7/24/2014
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$76.00
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PP = $72.69
|
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MB = $76.32
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Most Recent Note - 7/24/2014 6:19:31 PM
Y - Finished strong after highlighted in yellow with pivot point cited based on its 3/11/14 high plus 10 cents in the earlier mid-day report (read here). The "breakaway gap" with nearly 3 times average volume followed strong earnings news for the Jun '14 quarter and triggered a technical buy signal. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Breakaway Gap May Signal Beginning of Meaningful Rally - 7/24/2014
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Chart |
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C
A N
S L
I M
|
GRFS
-
NASDAQ
Grifols Sa Cl B Ads
Medical-Ethical Drugs
|
$42.24
|
-0.17
-0.40% |
$43.30
|
348,244
53.33% of 50 DAV
50 DAV is 653,000
|
$46.66
-9.47%
|
5/15/2014
|
$41.14
|
PP = $43.55
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|
MB = $45.73
|
Most Recent Note - 7/29/2014 8:13:29 PM
G - Encountered resistance again today at its 50 DMA line. A rebound above that important short-term average is needed for its outlook to improve. Faces resistance due to overhead supply up through the $46 area. See the latest FSU analysis for more details and annotated graphs.
>>> FEATURED STOCK ARTICLE : Encountered Resistance at 50-Day Moving Average Line - 7/29/2014
View all notes |
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C
A N
S L
I M
|
HF
-
NYSE
H F F Inc Cl A
REAL ESTATE - Property Management/Developmen
|
$34.88
|
+0.13
0.37% |
$35.32
|
241,987
126.69% of 50 DAV
50 DAV is 191,000
|
$38.23
-8.76%
|
6/20/2014
|
$34.60
|
PP = $36.16
|
|
MB = $37.97
|
Most Recent Note - 7/23/2014 4:17:02 PM
Y - Still testing support at its 50 DMA line ($34.21) and recent lows ($33.91 on 7/18/14) where further deterioration would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Slump Into Prior Base Negated Recent Breakout - 7/15/2014
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C
A N
S L
I M
|
ICON
-
NASDAQ
Iconix Brand Group Inc
CONSUMER NON-DURABLES - Textile - Apparel Footwear
|
$42.44
|
-0.27
-0.63% |
$44.33
|
593,156
128.95% of 50 DAV
50 DAV is 460,000
|
$44.81
-5.29%
|
6/5/2014
|
$43.54
|
PP = $43.44
|
|
MB = $45.61
|
Most Recent Note - 7/23/2014 4:25:27 PM
G - Up today with heavy volume, rising to its 50 DMA line. Faces some additional resistance due to overhead supply up through the $44 level.
>>> FEATURED STOCK ARTICLE : Slump Below 50-Day Moving Average Line Hurt Outlook - 7/11/2014
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C
A N
S L
I M
|
PANW
-
NYSE
Palo Alto Networks
Computer Sftwr-Security
|
$82.10
|
-0.01
-0.01% |
$82.76
|
657,540
36.51% of 50 DAV
50 DAV is 1,801,000
|
$85.78
-4.29%
|
5/29/2014
|
$75.95
|
PP = $72.50
|
|
MB = $76.13
|
Most Recent Note - 7/24/2014 6:22:59 PM
G - Finished at a best-ever close and near the session higher with today's gain on higher volume. Its 50 DMA line and prior highs define important support where subsequent violations would raise serious concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Found Support Above 50-Day Average Near Prior Highs - 7/22/2014
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C
A N
S L
I M
|
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 |
TARO
-
NYSE
Taro Pharmaceutical Inds
DRUGS - Drug Manufacturers - Other
|
$140.99
|
-0.87
-0.61% |
$142.98
|
58,219
84.38% of 50 DAV
50 DAV is 69,000
|
$149.89
-5.94%
|
6/26/2014
|
$117.31
|
PP = $118.90
|
|
MB = $124.85
|
Most Recent Note - 7/23/2014 4:27:29 PM
G - Stubbornly holding its ground after tallying big gains following its recent breakout, an encouraging sign. Disciplined investors avoid chasing stocks more than +5% above prior highs.
>>> FEATURED STOCK ARTICLE : Big Gains in First 2-3 Weeks After Breakout an Encouraging Sign - 7/18/2014
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C
A N
S L
I M
|
TRN
-
NYSE
Trinity Industries Inc
TRANSPORTATION - Railroads
|
$45.02
|
-0.01
-0.02% |
$45.39
|
3,068,001
103.33% of 50 DAV
50 DAV is 2,969,000
|
$46.29
-2.74%
|
4/30/2014
|
$37.79
|
PP = $38.03
|
|
MB = $39.93
|
Most Recent Note - 7/28/2014 5:45:14 PM
G - Perched near its 52-week high and consolidating above its 50 DMA line defining important near-term support to watch. Due to report Jun '14 quarterly earnings after the close on Tuesday. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Earnings News Due Following Tuesday's Close - 7/28/2014
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C
A N
S L
I M
|
UA
-
NYSE
Under Armour Inc Cl A
CONSUMER NON-DURABLES - Textile - Apparel Clothing
|
$68.85
|
-0.78
-1.12% |
$69.98
|
2,121,659
78.09% of 50 DAV
50 DAV is 2,717,000
|
$70.94
-2.95%
|
7/10/2014
|
$58.50
|
PP = $60.79
|
|
MB = $63.83
|
Most Recent Note - 7/25/2014 12:48:38 PM
G - Color code is changed to green. Reported earnings +0% on +34% sales revenues for the Jun '14 quarter, below the +25% minimum earnings guideline (C criteria), yet the company raised its guidance. Holding its ground at its 52-week high today following a considerable "breakaway gap" on the prior session with more than 4 times average volume. A breakaway gap is the one noted exception where investors may chase a stock more than +5% above prior highs, however risk increases.
>>> FEATURED STOCK ARTICLE : Forming Handle on Cup-With-Handle Base Pattern - 7/10/2014
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C
A N
S L
I M
|
WLK
-
NYSE
Westlake Chemical Corp
CHEMICALS - Specialty Chemicals
|
$90.00
|
-1.58
-1.73% |
$91.42
|
689,306
123.09% of 50 DAV
50 DAV is 560,000
|
$91.97
-2.14%
|
4/29/2014
|
$72.79
|
PP = $69.31
|
|
MB = $72.78
|
Most Recent Note - 7/25/2014 6:39:03 PM
G - Hit another new 52-week high with today's 8th consecutive gain, getting more extended from any sound base pattern. Its 50 DMA line defines important near-term support to watch on pullbacks. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After Streak of 8 Consecutive Gains - 7/25/2014
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C
A N
S L
I M
|
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|
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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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