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AFTER MARKET UPDATE - FRIDAY, OCTOBER 4TH, 2024
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DOW |
+341.16 |
42,352.75 |
+0.81% |
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Volume |
819,618,597 |
-8% |
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Volume |
5,254,591,700 |
+1% |
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NASDAQ |
+219.37 |
18,137.85 |
+1.22% |
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Advancers |
1,727 |
63% |
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Advancers |
2,921 |
70% |
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S&P 500 |
+51.13 |
5,751.07 |
+0.90% |
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Decliners |
1,009 |
37% |
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Decliners |
1,276 |
30% |
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Russell 2000 |
+32.65 |
2,212.80 |
+1.50% |
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52 Wk Highs |
161 |
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52 Wk Highs |
167 |
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S&P 600 |
+21.49 |
1,407.46 |
+1.55% |
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52 Wk Lows |
14 |
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52 Wk Lows |
99 |
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Major Indices Rose With Greater Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The market-cap weighted S&P 500 rose +0.9% and the Dow Jones Industrial Average hit a new all-time high. The volume reported was lighter than the prior session total on the NYSE and slightly higher on the Nasdaq exchange. Advancers led decliners by a 9-5 margin on the NYSE and by more than a 2-1 margin on the Nasdaq exchange. There were 81 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 43 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 S&P 500 Index is consolidating within close striking distance of its all-time high.
The September Employment Situation Report showed stronger than expected hiring, a drop in unemployment, and a rise in average hourly earnings. Treasury yields rose and the 10-yr yield settled 13 basis points higher at 3.98% while the 2-yr yield settled 22 basis points higher at 3.93%.
Two S&P 500 sectors closed lower, clipped by rising market rates, and five sectors closed at least 1.0% higher. The financial (+1.6%) and consumer discretionary (+1.6%) sectors closed higher while the real estate (-0.7%) sector logged the biggest decline.
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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, Tech, and Energy-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.40%), Bank Index ($BKX +2.54%), and the Broker/Dealer Index ($XBD +1.71%) each posted gains. The tech sector had a positive bias as the Semiconductor Index ($SOX +1.59%), Networking Index ($NWX +1.35%), and the Biotech Index ($BTK +1.06%) posted unanimous gains. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU -0.43%) fell while the Oil Services Index ($OSX +1.20%) and Integrated Oil Index ($XOI +0.67%) both posted gains.
PICTURED: The Broker/Dealer Index ($XBD +1.71%) posted a 3rd consecutive gain, hiting a new all-time high.
| Oil Services |
$OSX |
81.69 |
+0.97 |
+1.20% |
-2.61% |
| Integrated Oil |
$XOI |
2,004.08 |
+13.32 |
+0.67% |
+7.60% |
| Semiconductor |
$SOX |
5,206.84 |
+81.62 |
+1.59% |
+24.70% |
| Networking |
$NWX |
1,138.35 |
+15.18 |
+1.35% |
+36.69% |
| Broker/Dealer |
$XBD |
709.16 |
+11.95 |
+1.71% |
+27.25% |
| Retail |
$RLX |
4,668.23 |
+64.29 |
+1.40% |
+20.04% |
| Gold & Silver |
$XAU |
158.07 |
-0.69 |
-0.43% |
+25.76% |
| Bank |
$BKX |
114.65 |
+2.84 |
+2.54% |
+19.40% |
| Biotech |
$BTK |
5,911.04 |
+61.75 |
+1.06% |
+9.08% |
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Near 50-Day Moving Average After Volume-Driven Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Natural Grocers (NGVC +$0.45 or +1.76% to $26.04) is consolidating near its 50-day moving average (DMA) line after volume-driven losses. NGVC was highlighted in yellow in the 9/05/24 mid-day report (read here) as it was noted that a valid secondary buy point exists up to 5% above the prior high since finding support near its 10 WMA line after an earlier breakout. It was last shown in this FSU section on 9/05/24 with an annotated graph under the headline, "Following Pullback a Secondary Buy Point Exists".
NGVC has an Earnings Per Share Rating of 95. 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 (A criteria). The Retail-Super/Mini Markets group is currently ranked 69th on the 197 Industry Groups list. Top-rated funds owning an interest in the company's shares rose from 177 in Sep '23 to 201 in Sep '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.2 provides an unbiased indication that its shares have been under slight accumulation over the past 50 days. Its small supply (S criteria) of only 22.8 million shares outstanding can contribute to greater price volatility in the event of institutional buying or selling. Charts courtesy www.stockcharts.com
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 - NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag | $93.25 | +1.62
1.77% | $93.75 | 33,781
51.18% of 50 DAV
50 DAV is 66,000 | $97.88
-4.73%
| 9/17/2024 | $71.26 | PP = $87.23 | | MB = $91.59 | Most Recent Note - 9/30/2024 5:18:18 PM
G - Hit another new all-time high with today''s gain backed by +22% above-average volume. Prior high in the $87 area defines initial support to watch on pullbacks.
>>> 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 | $81.29 | +1.77
2.23% | $81.35 | 309,875
52.79% of 50 DAV
50 DAV is 587,000 | $81.38
-0.11%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 | Most Recent Note - 10/1/2024 10:29:06 PM
G - Posted a 3rd small gain today, hovering near its all-time high. Its 50 DMA line and prior low in the $70 area define important near-term support levels to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 | 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 | $178.65 | +3.10
1.77% | $179.42 | 436,839
60.76% of 50 DAV
50 DAV is 719,000 | $180.69
-1.13%
| 7/26/2024 | $173.08 | PP = $175.82 | | MB = $184.61 | Most Recent Note - 10/2/2024 5:27:32 PM
Y - Managed a "positive reversal" today and closed near the session high with a gain backed by lighter volume. Recently noted rebound above the 50 DMA line ($168.71) helped its outlook to improve. Faces no resistance due to overhead supply.
>>> FEATURED STOCK ARTICLE : Wedging to New Highs With Quiet Volume Behind Gains - 9/26/2024 | 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 | $102.03 | +1.28
1.27% | $103.00 | 2,063,335
77.34% of 50 DAV
50 DAV is 2,668,000 | $102.26
-0.22%
| 7/30/2024 | $93.95 | PP = $85.52 | | MB = $89.80 | Most Recent Note - 9/30/2024 6:04:04 PM
G - Volume was light today as it posted a gain for a best-ever close. Its 50 DMA ($93.41) line defines important near-term support above the recent low ($90.72). See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | MELI - NASDAQ
MercadoLibre
Retail-Internet | $1,960.00 | +0.80
0.04% | $1,972.21 | 315,878
97.19% of 50 DAV
50 DAV is 325,000 | $2,161.73
-9.33%
| 8/5/2024 | $1,793.73 | PP = $1,792.15 | | MB = $1,881.76 | Most Recent Note - 10/3/2024 5:03:34 PM
G - Ended lower today with lighter volume after a volume-driven loss on the prior session undercut its prior low ($1,966). It is testing its 50 DMA line ($1,960) which defines important near-term support. More damaging losses would raise concerns and trigger a technical sell signal. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line - 10/3/2024 | 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 | NGVC - NYSE
Natural Grocers
Retail-Super/Mini Mkts | $26.04 | +0.45
1.76% | $26.64 | 77,460
82.40% of 50 DAV
50 DAV is 94,000 | $30.32
-14.12%
| 9/5/2024 | $27.91 | PP = $27.60 | | MB = $28.98 |  Most Recent Note - 10/4/2024 11:26:08 PM
G - Paused today after 3 consecutive losses with above-average volume undercut its pivot point and violated its 50 DMA line ($26.24) triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Near 50-Day Moving Average After Volume-Driven Losses - 10/4/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I |
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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***
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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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