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AFTER MARKET UPDATE - WEDNESDAY, OCTOBER 16TH, 2019
Previous After Market Report Next After Market Report >>>
Indices NYSE Nasdaq
DOW  -22.82 27,001.98 -0.08% Volume 752,976,500 +3% Volume 1,882,572,260 +3%
NASDAQ -24.53 8,124.18 -0.30% Advancers 1,496 52% Advancers 1,595 52%
S&P 500 -5.99 2,989.69 -0.20% Decliners 1,370 48% Decliners 1,465 48%
Russell 2000 +1.76 1,525.06 +0.12% 52 Wk Highs 112   52 Wk Highs 39  
S&P 600 +2.73 945.05 +0.29% 52 Wk Lows 35   52 Wk Lows 59  

Major Indices Hover Indecisively Near Record Highs

The Dow slipped 22 points, while the S&P 500 was down 0.2%. The Nasdaq Composite lost 0.3%.. Volume totals reported were higher than the prior session totals on the Nasdaq exchange and on the NYSE. Advancers narrowly led decliners on the NYSE and on the Nasdaq exchange. Leadership improved slightly as there were 34 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 28 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but new lows still outnumbered new highs on the Nasdaq exchange. The uptrend for the major indices (M criteria) had recently come under greater pressure, however, the strong finish last week avoided a more worrisome "correction" in the market . The Featured Stocks Page provides the most timely analysis on high-ranked leaders.
Charts used courtesy of www.stockcharts.com

PICTURED: The Nasdaq Composite Index is above its 50-day moving average (DMA) line and perched only -2.6% off its record high. Its 200 DMA line and prior lows define important near-term support.

Stocks finished modestly lower Wednesday as investors assessed economic data releases and trade updates. On the data front, retail sales unexpectedly dipped 0.3% in September, missing expectations of a 0.3% gain and the first drop in seven months. Separately, a gauge of homebuilder confidence jumped near a two-year high amid low mortgage rates. Treasuries advanced with the yield on the 10-year note down three basis points to 1.74%. On the trade front, President Trump noted that a U.S.-China trade deal would not be finalized until after his meeting with Chinese President Xi next month.

Six of 11 S&P 500 sectors finished in negative territory with Energy and Technology stocks leading decliners. Financial institutions continued to dominate earnings headlines, with Bank of America (BAC +1.48%) rose after posting a 4% increase in net income. Shares of regional banks PNC Financial (PNC -0.29%) sputtered and Bank of New York Mellon (BK +0.18%) inched higher after topping Wall Street earnings estimates. In other corporate news, General Motors (GM +1.08%) rose following news that the automaker reached a tentative labor contract with its union workers. Elsewhere, T-Mobile (TMUS +0.34%) inched higher after media outlets reported the wireless carrier won regulatory approval for its merger with Sprint (S -0.62%).

In central bank news, the Federal Reserve Beige Book showed that the U.S. economy expanded at a “slight to modest pace” in recent weeks. The report revealed that manufacturing activity slowed amid ongoing trade tensions and slowing global growth. In commodities, WTI crude fell 2.5% to $53.31/barrel.

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.


Gold & Silver and Retail Index Were Standout Gainers

The Broker/Dealer Index ($XBD -1.04%) outpaced the Bank Index ($BKX -0.28%) to the downside, meanwhile, the Retail Index ($RLX +0.43%) rose.  The tech sector's negative bias was due to a big loss for the Semiconductor Index ($SOX -1.47%), meanwhile, the Biotech Index ($BTK -0.37%) and the Networking Index ($NWX -0.15%) both suffered smaller losses. The Oil Services Index ($OSX -0.62%) and the Integrated Oil Index ($XOI -1.08%) both ended lower, meanwhile, the Gold & Silver Index ($XAU +1.60%) was a standout gainer.

Charts courtesy of www.stockcharts.com

PICTURED: The  Semiconductor Index ($SOX -1.47%) hit a new record high on the prior session.

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  64.60 -0.41 -0.63% -19.85%
Integrated Oil $XOI  1,188.97 -12.94 -1.08% +2.58%
Semiconductor $SOX  1,601.79 -23.90 -1.47% +38.66%
Networking $NWX  551.45 -0.82 -0.15% +12.85%
Broker/Dealer $XBD  255.21 -2.68 -1.04% +7.53%
Retail $RLX  2,402.19 +10.31 +0.43% +23.10%
Gold & Silver $XAU  88.26 +1.39 +1.60% +24.91%
Bank $BKX  100.21 -0.28 -0.28% +16.81%
Biotech $BTK  4,286.00 -15.84 -0.37% +1.54%


Faces Some Resistance Due to Overhead Supply

Epam Systems Inc (EPAM -$1.50 or -0.79% to $188.45) is consolidating above its 50-day moving average (DMA) line ($186.76). It faces some resistance due to overhead supply up to the $201 level. meanwhile, prior lows in the $174-175 area define the next important support level. 

It recently reported earnings +27% on +24% sales revenues for the Jun '19 quarter, continuing its strong earnings track record. Fundamentals remain strong with a 97 Earnings Per Share Rating, well above the 80+ minimum guideline for buy candidates. The Computer - Tech Services firm's annual earnings history (A criteria) has been strong. It was last shown in this FSU section on 9/30/19 with an annotated graph under the headline, "Slumped and Sputtered Below 50-Day Moving Average".

The number of top-rated funds owning its shares rose from 462 in Jun '17 to 911 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. Its small supply of only 51.6 million shares (S criteria) in the pubic float can contribute to greater volatility in the event of institutional buying or selling. Its Relative Strength rating of 91 is above the 80+ minimum guideline for buy candidates.

Charts courtesy of www.stockcharts.com


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
StockCharts.com Latest Chart for MLR MLR - NYSE
Miller Industries Inc
AUTOMOTIVE - Auto Parts  
$31.95 -0.68
-2.08%

$32.85

43,508
135.96% of 50 DAV
50 DAV is 32,000
$35.26
-9.39%
9/24/2019 $34.00 PP = $35.36
MB = $37.13
Most Recent Note - 10/15/2019 1:45:03 PM
G - Halted its slide recently at its 200 DMA line, and a rebound above its 50 DMA line ($32.36) may help its outlook to improve. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Tested Support at Long-Term 200-Day Moving Average - 10/9/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for CCBG CCBG - NASDAQ
Capital City Bk Gp
BANKING - Regional - Mid-Atlantic Banks  
$26.82 -0.07
-0.26%

$27.05

12,312
45.60% of 50 DAV
50 DAV is 27,000
$28.00
-4.21%
9/13/2019 $27.03 PP = $27.05
MB = $28.40
Most Recent Note - 10/14/2019 5:16:50 PM
Y - Still hovering near its 52-week high. Prior highs define initial support to watch above its 50 DMA line ($25.58). Due to report earnings news on 10/21/19. See the latest FSU analysis for more details,
>>> FEATURED STOCK ARTICLE : Perched Near High With Earnings News Due Next Week - 10/14/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for EPAM EPAM - NYSE
Epam Systems Inc
COMPUTER SOFTWARE and SERVICES - Information Technology Service  
$188.45 -1.50
-0.79%

$189.26

247,084
73.54% of 50 DAV
50 DAV is 336,000
$201.00
-6.24%
5/9/2019 $169.25 PP = $180.55
MB = $189.58
Most Recent Note - 10/16/2019 5:48:51 PM
G - Consolidating above its 50 DMA line. Faces little resistance due to overhead supply up to the $201 level. Prior lows in the $174-175 area define the next important support level. Reported earnings +27% on +24% sales revenues for the Jun '19 quarter. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Faces Some Resistance Due to Overhead Supply - 10/16/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for AUDC AUDC - NASDAQ
Audiocodes Ltd
ELECTRONICS - Scientific and Technical Instrum  
$18.18 +0.02
0.11%

$18.24

121,157
61.81% of 50 DAV
50 DAV is 196,000
$22.50
-19.20%
9/13/2019 $19.68 PP = $19.84
MB = $20.83
Most Recent Note - 10/15/2019 1:18:50 PM
G - A rebound above its 50 DMA line ($18.43) is needed for its outlook to improve. That short-term average may act as resistance. Prior lows in the $16.50 area define the next important support.
>>> FEATURED STOCK ARTICLE : Sank Below 50-Day Average as 7 Straight Losses Follow Reversal - 10/2/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for CHDN CHDN - NASDAQ
Churchill Downs Inc
LEISURE - Gaming Activities  
$130.03 +0.16
0.12%

$130.15

309,621
138.22% of 50 DAV
50 DAV is 224,000
$132.73
-2.03%
10/8/2019 $129.77 PP = $132.83
MB = $139.47
Most Recent Note - 10/15/2019 12:38:09 PM
Y - Stubbornly holding its ground near its all-time high following volume-driven gains last week. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. Its 50 DMA line ($123.42) acted as support in recent weeks during its consolidation. Jun '19 earnings +10% on +26% sales revenues versus the year ago period were below the +25% minimum earnings guideline (C criteria), noted recently raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain for Record High Close - 10/8/2019
 |  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
StockCharts.com Latest Chart for LULU LULU - NASDAQ
Lululemon Athletica
MANUFACTURING - Textile Manufacturing  
$203.08 -0.81
-0.40%

$203.93

1,452,514
79.68% of 50 DAV
50 DAV is 1,823,000
$205.40
-1.13%
9/6/2019 $201.25 PP = $194.35
MB = $204.07
Most Recent Note - 10/15/2019 1:40:44 PM
Y - Quietly touching new all-time highs this week and trading near its "max buy" level. Its 50 DMA line ($188.75) and recent low ($185.36 on 10/03/19) define important near-term support where more damaging losses would raise serious concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Found Support After Undercutting 50-Day Moving Average - 10/3/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for CPRT CPRT - NASDAQ
Copart Inc
SPECIALTY RETAIL - Auto Dealerships  
$81.38 -0.36
-0.44%

$81.72

937,927
65.91% of 50 DAV
50 DAV is 1,423,000
$83.70
-2.77%
9/5/2019 $79.13 PP = $79.84
MB = $83.83
Most Recent Note - 10/9/2019 5:52:19 PM
Y - Color code is changed to yellow after finding support above its 50 DMA line ($78.16) and trading back above its pivot point helping its outlook improve.
>>> FEATURED STOCK ARTICLE : Found Prompt Support Near 50-Day Moving Average - 10/4/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for PFPT PFPT - NASDAQ
Proofpoint Inc
Computer Sftwr-Security  
$129.07 -2.69
-2.04%

$131.29

576,749
79.88% of 50 DAV
50 DAV is 722,000
$133.58
-3.38%
10/1/2019 $129.59 PP = $132.95
MB = $139.60
Most Recent Note - 10/15/2019 1:43:09 PM
Y - Perched at its all-time high, it has met stubborn resistance in the $132 area in recent months. Its 50 DMA line ($122.38) defines near-term support. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Challenging Previously Stubborn Resistance - 10/1/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for BLD BLD - NYSE
Topbuild Corp
Bldg-Constr Prds/Misc  
$100.35 +0.83
0.83%

$100.81

230,243
91.73% of 50 DAV
50 DAV is 251,000
$99.98
0.37%
5/17/2019 $82.19 PP = $87.31
MB = $91.68
Most Recent Note - 10/9/2019 5:49:29 PM
G - Posted a quiet gain today for a best-ever close. Stayed above its 50 DMA line, and challenging its all-time high, it is extended from the prior base after wedging higher with gains lacking great volume conviction. Earnings rose +39% on +9% sales revenues for the Jun '19 quarter versus the year ago period. Its 50 DMA line ($92.186) defines important support to watch along with its prior low ($86.53 on 8/28/19).
>>> FEATURED STOCK ARTICLE : Near High After Finding Support at 50-Day Average - 10/7/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for PAGS PAGS - NYSE
Pagseguro Digital Cl A
Finance-CrdtCard/PmtPr  
$39.53 -1.07
-2.64%

$40.35

8,122,177
442.14% of 50 DAV
50 DAV is 1,837,000
$53.43
-26.02%
6/25/2019 $37.69 PP = $40.07
MB = $42.07
Most Recent Note - 10/15/2019 1:16:26 PM
G - Gapped down today violating prior lows in the $42-43 area triggering a worrisome technical sell signal. A rebound above the 50 DMA line ($47.29) still is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Average Needed for Outlook to Improve - 10/10/2019
 |  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

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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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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