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AFTER MARKET UPDATE - MONDAY, AUGUST 19TH, 2024
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DOW |
+236.77 |
40,896.53 |
+0.58% |
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Volume |
784,553,871 |
-10% |
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Volume |
5,622,644,100 |
+7% |
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NASDAQ |
+245.05 |
17,876.77 |
+1.39% |
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Advancers |
2,088 |
76% |
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Advancers |
3,060 |
72% |
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S&P 500 |
+54.00 |
5,608.25 |
+0.97% |
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Decliners |
670 |
24% |
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Decliners |
1,189 |
28% |
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Russell 2000 |
+25.58 |
2,167.50 |
+1.19% |
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52 Wk Highs |
144 |
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52 Wk Highs |
187 |
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S&P 600 |
+11.81 |
1,382.25 |
+0.86% |
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52 Wk Lows |
11 |
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52 Wk Lows |
68 |
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Major Indices Ended Session Strong With Decent Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+1.0%), Nasdaq Composite (+1.4%), Dow Jones Industrial Average (+0.6%), and Russell 2000 (+1.2%) posted gains and hit new session highs ahead of the close. The S&P 500 is just -1.1% below its all-time high. Volume reported for Monday was mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 3-1 margin on the NYSE and by 5-2 on the Nasdaq exchange. There were 58 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 42 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. Bullish action in the major indices recently confirmed a new market uptrend (M criteria). Disciplined investors know that new buying efforts are only to be made in stocks meeting all key criteria of the fact-based investment system.
PICTURED: The S&P 500 Index posted an 8th consecutive gain, making steady progress toward its 2024 high.
Broad buying activity left all 11 S&P 500 sectors higher led by communication services (+1.4%) and information technology (+1.4%). Lowe's (LOW +0.9%), Target (TGT +0.4%), TJX (TJX +0.9%), Urban Outfitters (URBN +1.1%), and Dollar Tree (DLTR +1.8%) each settled higher in front of their quarterly reports.
The 10-yr note yield settled two basis points lower at 3.87% and the 2-yr note yield rose one basis point to 4.07%. The release of the FOMC Minutes for the July 30-31 FOMC meeting wil be made on Wednesday. Fed Chair Powell's speaks at the Economic Outlook at the Jackson Hole Economic Symposium on Friday. Weekly initial jobless claims and existing home sales report for July are due on Thursday and the new home sales report for July is due on Friday.
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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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Tech, Retail, Financial, and Gold & Silver Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.59%), Bank Index ($BKX +0.85%), and the Retail Index ($RLX +0.56%) each posted gains on Monday. The tech sector was led by the Biotech Index ($BTK +2.18%) while the Semiconductor Index ($SOX +1.86%) and the Networking Index ($NWX +0.93) also posted solid gains. The Gold & Silver Index ($XAU +2.07%) outpaced the Oil Services Index ($OSX +0.58%) and the Integrated Oil Index ($XOI +0.15%).
PICTURED: The Gold & Silver Index ($XAU +2.07%) has rebounded near its 2024 high with 7 gains in the span of 8 sessions.
| Oil Services |
$OSX |
83.70 |
+0.48 |
+0.58% |
-0.22% |
| Integrated Oil |
$XOI |
2,014.41 |
+2.96 |
+0.15% |
+8.16% |
| Semiconductor |
$SOX |
5,266.57 |
+96.32 |
+1.86% |
+26.13% |
| Networking |
$NWX |
1,002.25 |
+9.20 |
+0.93% |
+20.35% |
| Broker/Dealer |
$XBD |
667.93 |
+3.88 |
+0.59% |
+19.85% |
| Retail |
$RLX |
4,420.96 |
+24.76 |
+0.56% |
+13.69% |
| Gold & Silver |
$XAU |
156.70 |
+3.18 |
+2.07% |
+24.68% |
| Bank |
$BKX |
111.64 |
+0.94 |
+0.85% |
+16.27% |
| Biotech |
$BTK |
5,891.67 |
+125.62 |
+2.18% |
+8.73% |
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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 |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$77.85
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+0.77
1.00% |
$77.91
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46,204
47.15% of 50 DAV
50 DAV is 98,000
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$87.13
-10.65%
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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 - 8/15/2024 2:44:06 PM
G - Gapped up today rebounding further above the 50 DMA line ($74.30) helping its outlook to improve. Resistance remains due to overhead supply up to the $87 level.
>>> 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 |
Request a new note
C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$71.58
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+0.59
0.83% |
$71.60
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200,556
25.84% of 50 DAV
50 DAV is 776,000
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$73.01
-1.96%
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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 - 8/16/2024 11:45:25 PM
G - Volume was below average behind the 2 latest gains while wedging to new high closes. Prior highs in the $64 area define important support to watch coinciding with its 50 DMA line ($64.59).
>>> FEATURED STOCK ARTICLE : Hit New High While Making Steady Progress - 7/31/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
MMYT
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NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$97.44
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+2.81
2.97% |
$98.10
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440,424
62.12% of 50 DAV
50 DAV is 709,000
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$100.22
-2.77%
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7/23/2024
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$96.92
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PP = $93.39
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MB = $98.06
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Most Recent Note - 8/19/2024 5:13:30 PM
Y - Posted a small gain for a best-ever close. Recently found prompt support near its 50 DMA line ($87.42).
>>> FEATURED STOCK ARTICLE : Volume Driven Trip to New Highs - 7/23/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$168.12
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+0.86
0.51% |
$169.13
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730,359
88.85% of 50 DAV
50 DAV is 822,000
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$177.72
-5.40%
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7/26/2024
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$173.08
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PP = $175.82
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MB = $184.61
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Most Recent Note - 8/16/2024 11:43:52 PM
G - Pulled back today and closed below its 50 DMA line ($169.58) which is now downward sloping and may act as resistance.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure When Poised to Break Out - 7/26/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$96.37
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+0.55
0.57% |
$96.45
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1,947,682
62.57% of 50 DAV
50 DAV is 3,113,000
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$97.29
-0.95%
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7/30/2024
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$93.95
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PP = $85.52
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MB = $89.80
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Most Recent Note - 8/15/2024 9:18:04 PM
Y - Volume totals have been cooling while wedging toward its all-time high. Found prompt support after a pullback tested prior highs in the $85 area defining initial support to watch above its 50 DMA line ($83.49).
>>> FEATURED STOCK ARTICLE : Breakaway Gap For Howmet Aerospace - 7/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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 |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$2,028.00
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+50.03
2.53% |
$2,029.99
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401,111
125.74% of 50 DAV
50 DAV is 319,000
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$1,999.00
1.45%
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8/5/2024
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$1,793.73
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PP = $1,792.15
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MB = $1,881.76
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Most Recent Note - 8/19/2024 5:17:21 PM
G - Posted a gain for another new 52-week high. Prior highs define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finished Flat When Poised to Breakout - 8/5/2024 |
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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