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AFTER MARKET UPDATE - WEDNESDAY, SEPTEMBER 18TH, 2024
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DOW |
-103.08 |
41,503.10 |
-0.25% |
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Volume |
945,051,471 |
+16% |
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Volume |
5,768,170,300 |
+15% |
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NASDAQ |
-54.76 |
17,573.30 |
-0.31% |
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Advancers |
1,256 |
47% |
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Advancers |
1,866 |
45% |
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S&P 500 |
-16.32 |
5,618.26 |
-0.29% |
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Decliners |
1,439 |
53% |
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Decliners |
2,295 |
55% |
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Russell 2000 |
+0.86 |
2,206.34 |
+0.04% |
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52 Wk Highs |
388 |
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52 Wk Highs |
331 |
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S&P 600 |
+1.32 |
1,401.52 |
+0.09% |
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52 Wk Lows |
8 |
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52 Wk Lows |
75 |
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Major Indices Erased Gains to End Session Lower Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices hit fresh record highs for the S&P 500 (-0.3%) and Dow Jones Industrial Average (-0.3%) but both ultimately settled lower. Volume reported was higher than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was slightly negative as decliners led advancers by a 7-6 margin on the NYSE and by an 11-9 margin on the Nasdaq exchange. There were 119 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 94 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). 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 Nasdaq Composite Index erased an early gain and ended lower on Wednesday.
The Federal Open Market Committee (FOMC) voted in favor of cutting the target range for the fed funds rate by 50 basis points to 4.75-5.00%. The energy +0.3% and communication services +0.02% sectors were alone in the plus column while 9 of the 11 S&P 500 sectors closed with declines ranging from -0.1% (industrials) to -0.8% (utilities).
The interesting action was in the Treasury market. The monetary policy rate was cut, and it is likely to get cut again (several times) based on the Fed's own projections. The 2-yr note yield settled at 3.60%, up one basis point, while the 10-yr note yield settled at 3.69%, up four basis points.
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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 and Energy-Linked Indexes Led Decliners
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.02%) and Bank Index ($BKX +0.15%) both inched higher as the Retail Index ($RLX -0.18%) ended slightly in the red. The tech sector had a negative bias as the Semiconductor Index ($SOX -1.08%) and the Networking Index ($NWX -0.88%) fell while the Biotech Index ($BTK +0.03%) finished flat. The Gold & Silver Index ($XAU -1.18%) and the Oil Services Index ($OSX -1.27%) lost ground while the Integrated Oil Index ($XOI +0.23%) notched a small gain.
PICTURED: The Semiconductor Index ($SOX -1.08%) lost ground, consolidating above its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
77.00 |
-0.99 |
-1.27% |
-8.20% |
| Integrated Oil |
$XOI |
1,893.98 |
+4.36 |
+0.23% |
+1.69% |
| Semiconductor |
$SOX |
4,859.29 |
-52.81 |
-1.08% |
+16.38% |
| Networking |
$NWX |
1,081.07 |
-9.57 |
-0.88% |
+29.81% |
| Broker/Dealer |
$XBD |
684.66 |
+0.16 |
+0.02% |
+22.86% |
| Retail |
$RLX |
4,620.10 |
-8.11 |
-0.18% |
+18.81% |
| Gold & Silver |
$XAU |
156.61 |
-1.87 |
-1.18% |
+24.60% |
| Bank |
$BKX |
112.31 |
+0.16 |
+0.15% |
+16.97% |
| Biotech |
$BTK |
5,896.06 |
+1.77 |
+0.03% |
+8.81% |
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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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$89.26
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+1.75
2.00% |
$91.00
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50,409
69.05% of 50 DAV
50 DAV is 73,000
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$87.95
1.49%
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9/17/2024
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$71.26
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PP = $87.23
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MB = $91.59
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Most Recent Note - 9/17/2024 5:14:29 PM
Y - Quietly hit a new all-time high with today's 10th consecutive gain backed by below-average volume. New pivot point is cited based on its 8/01/24 high plus 10 cents. A gain and close above the pivot point backed by at least +40% above average volume may trigger a proper new technical buy signal.
>>> FEATURED STOCK ARTICLE : US Lime & Minerals Lingers Below 50-Day Average - 9/6/2024 |
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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$77.50
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-0.17
-0.22% |
$79.17
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607,651
90.02% of 50 DAV
50 DAV is 675,000
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$78.62
-1.42%
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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 - 9/18/2024 8:56:16 PM
G - There was a "negative reversal" today after hitting a new all-time high following 8 consecutive gains. Its recent low and 50 DMA line coincide in the $70 area defining near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Granite Contruction Closes at All-Time High - 8/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
MMYT
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NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$105.76
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+1.47
1.41% |
$109.05
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354,275
52.72% of 50 DAV
50 DAV is 672,000
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$105.79
-0.03%
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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 - 9/18/2024 9:01:36 PM
G - Posted an 8th consecutive gain today with below-average volume hitting yet another new 52-week high. Recently retested support near its 50 DMA line ($93.76).
>>> FEATURED STOCK ARTICLE : New High After Finding Prompt Support Near 50-Day Moving Average - 9/12/2024 |
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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$163.11
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-2.51
-1.52% |
$166.67
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592,918
79.16% of 50 DAV
50 DAV is 749,000
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$177.72
-8.22%
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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 - 9/17/2024 5:15:19 PM
G - Still sputtering below its 50 DMA line ($167.76) which is now downward sloping and has acted as resistance. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Meeting Stubborn Resistance at 50-Day Moving Average - 8/27/2024 |
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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$94.68
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+0.09
0.10% |
$95.96
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1,714,678
61.77% of 50 DAV
50 DAV is 2,776,000
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$98.15
-3.54%
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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 - 9/18/2024 8:57:47 PM
G - Volume totals have been cooling while consolidating in a tight range near its high. Its 50 DMA ($90.26) line defines important near-term support.
>>> FEATURED STOCK ARTICLE : Holding Ground Near All-Time High After Pullback Testing Support - 8/29/2024 |
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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$2,102.64
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+28.38
1.37% |
$2,124.52
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218,918
69.50% of 50 DAV
50 DAV is 315,000
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$2,143.96
-1.93%
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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 - 9/18/2024 8:59:09 PM
G - Volume totals have been cooling while hovering near its all-time high. Its 50 DMA line ($1,877) defines support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pulled Back From New All-Time High - 9/3/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$29.29
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-0.04
-0.14% |
$30.32
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166,266
210.46% of 50 DAV
50 DAV is 79,000
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$29.74
-1.51%
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9/5/2024
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$27.91
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PP = $27.60
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MB = $28.98
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Most Recent Note - 9/16/2024 5:23:46 PM
Y - Hit another new 52-week high with today's 5th consecutive gain backed by below-average volume. Color code was changed to yellow in the 9/05/24 mid-day report as a valid secondary buy point was noted up to 5% above the prior high since finding support near its 10 WMA line after an earlier breakout. Reported earnings +29% on +10% sales revenues for the Jun '24 quarter versus the year-ago period, its 5th consecutive strong quarter above the +25% minimum earnings guideline (C criteria). Annual earnings growth has been steady.
>>> FEATURED STOCK ARTICLE : Following Pullback a Secondary Buy Point Exists - 9/5/2024 |
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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only to active Paid Premium Members.
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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
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