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AFTER MARKET UPDATE - FRIDAY, OCTOBER 18TH, 2019
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DOW |
-255.68 |
26,770.20 |
-0.95% |
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Volume |
864,144,170 |
+18% |
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Volume |
1,994,370,220 |
+8% |
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NASDAQ |
-67.31 |
8,089.54 |
-0.83% |
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Advancers |
1,375 |
49% |
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Advancers |
1,305 |
43% |
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S&P 500 |
-11.75 |
2,986.20 |
-0.39% |
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Decliners |
1,454 |
51% |
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Decliners |
1,746 |
57% |
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Russell 2000 |
-6.36 |
1,535.48 |
-0.41% |
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52 Wk Highs |
128 |
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52 Wk Highs |
73 |
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S&P 600 |
-5.04 |
950.37 |
-0.53% |
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52 Wk Lows |
35 |
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52 Wk Lows |
58 |
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Major Indices Still Are Churning Near Recod Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow lost 255 points, ending the week 0.2% lower. The S&P 500 fell 0.4%, but posted a 0.5% weekly advance. The Nasdaq Composite declined 0.8%, paring its weekly gain to 0.4%.Volume totals reported were higher than the prior session totals on the Nasdaq exchange and on the NYSE, indicative of distributional pressure. Breadth had a negative bias as decliners led advancers by a narrow margin on the NYSE and by 3-2 on the Nasdaq exchange. There were 43 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 45 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, and on the Nasdaq exchange.The major indices (M criteria) are in a "confirmed uptrend" after enduring distributional pressure in recent weeks. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index is above its 50-day moving average (DMA) line and perched only -1.4% off its record high hit on 7/26/19. Its 200 DMA line and prior lows define important near-term support.
U.S. equities finished firmly lower Friday as investors continued to monitor the latest economic updates and corporate earnings reports. An update out of China overnight revealed its third-quarter GDP growth rate had eased to the slowest pace since the early 1990’s. The reading surprised many analysts and has sparked renewed concerns about a potential slowdown in global economic growth.
On the domestic data front, a survey showed the leading indicators index unexpectedly declined 0.1% month-over-month in September. Investors also monitored ongoing monetary policy commentary, with three separate Federal Reserve officials giving the central bank’s last public remarks before the Oct 29-30 FOMC meeting. Treasuries strengthened with the yield on the 10-year note down one basis point to 1.75%.
Seven of 11 S&P 500 sectors finished in negative territory. The Technology group led the laggards amid a decline in chipmakers. The Industrials group also underperformed with Boeing (BA -6.79%) fell after the Federal Aviation Administration said the jet maker withheld “concerning” employee messages from 2016 about the flight-control system at the center of the 737 Max groundings. The Communication Services group slumped as Netflix (NFLX -6.19%). Corporate earnings reports offered a bright spot, with 80% of S&P 500 constituents who have reported earnings as of this morning having topped consensus estimates, according to FactSet. Coca-Cola (KO +1.84% rose after topping analyst revenue projections.
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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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Financial Indexes and Gold & Silver index Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.78%) lost ground while the Broker/Dealer Index ($XBD +0.59%) and the Bank Index ($BKX +0.90%) both tried to buoy the major indices on Friday. The tech sector had a negative bias as the Semiconductor Index ($SOX -1.06%), Biotech Index ($BTK -0.46%) and the Networking Index ($NWX -0.31%) posted unanimous gains. The Oil Services Index ($OSX -1.77%) and the Integrated Oil Index ($XOI -0.62%) both fell, meanwhile, the Gold & Silver Index ($XAU +0.56%) again was a standout gainer.
PICTURED: The Oil Services Index ($OSX -1.77%) is sputtering below its 50-day moving average line near multi-year lows.
| Oil Services |
$OSX |
62.86 |
-1.14 |
-1.78% |
-22.01% |
| Integrated Oil |
$XOI |
1,185.82 |
-7.44 |
-0.62% |
+2.30% |
| Semiconductor |
$SOX |
1,590.05 |
-17.11 |
-1.06% |
+37.65% |
| Networking |
$NWX |
555.31 |
-1.73 |
-0.31% |
+13.64% |
| Broker/Dealer |
$XBD |
258.12 |
+1.52 |
+0.59% |
+8.75% |
| Retail |
$RLX |
2,396.23 |
-18.92 |
-0.78% |
+22.79% |
| Gold & Silver |
$XAU |
90.53 |
+0.51 |
+0.57% |
+28.12% |
| Bank |
$BKX |
100.99 |
+0.90 |
+0.90% |
+17.72% |
| Biotech |
$BTK |
4,279.59 |
-19.81 |
-0.46% |
+1.39% |
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LULU Stretches to Hit New Record High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Lululemon Athletica (LULU +$2.15 or +1.05% to $207.11) hit a new all-time high with today's gain backed by +28% above average volume. Its color code was changed to green after rising above its "max buy" level. Disciplined investors avid chasing stocks extended more than +5% from a sound base. It has shown bullish action since last shown in this FSU section was on 10/03/19 with an annotated graph under the headline, "Found Support After Undercutting 50-Day Moving Average". The 50-day moving average (DMA) line ($190.12) and the 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. LULU reported earnings +35% on +22% sales revenues for the Jul '19 quarter, marking its 7th consecutive quarterly comparison above the +25% minimum guideline (C criteria). Recent quarterly comparisons showed stronger sales revenues and earnings improvement helping it match with the fact-based investment system's fundamental guidelines. It has a new CEO as of 8/20/18. It currently has a 96 Earnings Per Share Rating. Its Timeliness rating is A and Sponsorship rating is C. The number of top-rated funds owning its shares rose from 1,041 in Jun '18 to 1,427 in Sep '19, a good sign concerning the I criteria. LULU was first featured in yellow at $23.83 (split adjusted after 2:1 split effective 7/21/11) in the October 8, 2010 mid-day report (read here) and it traded up as much as +163.7% in a little more than 9 months. As previously noted - "In a bullish market, many high-ranked leaders offer multiple opportunities to accumulate their shares under the fact-based system's strict guidelines. Patience may often allow another ideal base or secondary buy point to possibly develop and be noted." Charts courtesy of www.stockcharts.com
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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 |
MLR
-
NYSE
Miller Industries Inc
AUTOMOTIVE - Auto Parts
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$32.03
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-0.49
-1.51% |
$32.59
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45,175
141.17% of 50 DAV
50 DAV is 32,000
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$35.26
-9.16%
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9/24/2019
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$34.00
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PP = $35.36
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MB = $37.13
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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 |
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News |
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C
A
S
I |
CCBG
-
NASDAQ
Capital City Bk Gp
BANKING - Regional - Mid-Atlantic Banks
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$27.05
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+0.19
0.71% |
$27.05
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23,759
88.00% of 50 DAV
50 DAV is 27,000
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$28.00
-3.39%
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9/13/2019
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$27.03
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PP = $27.05
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MB = $28.40
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Most Recent Note - 10/17/2019 4:14:59 PM
Y - Still hovering near its 52-week high. Prior highs define initial support to watch above its 50 DMA line ($25.74). Due to report earnings news on 10/21/19.
>>> FEATURED STOCK ARTICLE : Perched Near High With Earnings News Due Next Week - 10/14/2019 |
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C
A
S
I |
EPAM
-
NYSE
Epam Systems Inc
COMPUTER SOFTWARE and SERVICES - Information Technology Service
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$186.96
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-2.24
-1.18% |
$189.40
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219,139
67.43% of 50 DAV
50 DAV is 325,000
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$201.00
-6.99%
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5/9/2019
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$169.25
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PP = $180.55
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MB = $189.58
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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 |
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News |
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C
A
S
I |
AUDC
-
NASDAQ
Audiocodes Ltd
ELECTRONICS - Scientific and Technical Instrum
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$18.74
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+0.16
0.86% |
$18.94
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190,133
96.03% of 50 DAV
50 DAV is 198,000
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$22.50
-16.71%
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9/13/2019
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$19.68
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PP = $19.84
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MB = $20.83
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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 |
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C
A
S
I |
CHDN
-
NASDAQ
Churchill Downs Inc
LEISURE - Gaming Activities
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$131.31
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+1.66
1.28% |
$131.51
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862,604
381.68% of 50 DAV
50 DAV is 226,000
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$132.73
-1.07%
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10/8/2019
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$129.77
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PP = $132.83
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MB = $139.47
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Most Recent Note - 10/18/2019 5:51:40 PM
Y - Churned heavy volume as it rallied for a best-ever close today. 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 |
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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 |
LULU
-
NASDAQ
Lululemon Athletica
MANUFACTURING - Textile Manufacturing
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$207.11
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+2.15
1.05% |
$209.02
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2,345,123
128.15% of 50 DAV
50 DAV is 1,830,000
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$205.65
0.71%
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9/6/2019
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$201.25
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PP = $194.35
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MB = $204.07
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Most Recent Note - 10/18/2019 5:44:08 PM
G - Hit a new all-time high as it rose above its "max buy" level and its color code is changed to green. Its 50 DMA line ($190) and recent low ($185.36 on 10/03/19) define important near-term support. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : LULU Stretches to Hit New Record High - 10/18/2019 |
View all notes |
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C
A
S
I |
CPRT
-
NASDAQ
Copart Inc
SPECIALTY RETAIL - Auto Dealerships
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$82.32
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+1.30
1.60% |
$82.43
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2,173,855
154.61% of 50 DAV
50 DAV is 1,406,000
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$83.70
-1.65%
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9/5/2019
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$79.13
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PP = $79.84
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MB = $83.83
|
Most Recent Note - 10/17/2019 4:17:13 PM
Y - Its 50 DMA line ($78.86) defines near-term support above the prior low ($76.35 on 10/03/19). Consolidating above its pivot point and below its "max buy" level.
>>> FEATURED STOCK ARTICLE : Found Prompt Support Near 50-Day Moving Average - 10/4/2019 |
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C
A
S
I |
PFPT
-
NASDAQ
Proofpoint Inc
Computer Sftwr-Security
|
$119.44
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-4.76
-3.83% |
$125.66
|
957,494
130.81% of 50 DAV
50 DAV is 732,000
|
$133.58
-10.59%
|
10/1/2019
|
$129.59
|
PP = $132.95
|
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MB = $139.60
|
Most Recent Note - 10/18/2019 5:50:04 PM
G - Violated its 50 DMA line ($122.75) with a volume-driven loss today triggering a technical sell signal and its color code is changed to green. Met stubborn resistance in the $132 area in recent months. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Recently Met Stubborn Resistance Near Prior Highs - 10/17/2019 |
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C
A
S
I |
BLD
-
NYSE
Topbuild Corp
Bldg-Constr Prds/Misc
|
$101.61
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-0.33
-0.32% |
$102.13
|
152,867
62.14% of 50 DAV
50 DAV is 246,000
|
$102.72
-1.08%
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5/17/2019
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$82.19
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PP = $87.31
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MB = $91.68
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Most Recent Note - 10/17/2019 4:14:20 PM
G - Wedged into all-time high territory with today's 5th consecutive gain 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 ($93.61) defines important support to watch along with its prior low ($91.31 on 10/03/19).
>>> FEATURED STOCK ARTICLE : Near High After Finding Support at 50-Day Average - 10/7/2019 |
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C
A
S
I |
PAGS
-
NYSE
Pagseguro Digital Cl A
Finance-CrdtCard/PmtPr
|
$38.85
|
-1.56
-3.86% |
$40.17
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5,189,137
243.74% of 50 DAV
50 DAV is 2,129,000
|
$53.43
-27.29%
|
6/25/2019
|
$37.69
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PP = $40.07
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MB = $42.07
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Most Recent Note - 10/18/2019 5:47:03 PM
G - After a gap down violated prior lows in the $42-43 area triggering a worrisome technical sell signal it completed a Secondary Offering on 10/17/19. A rebound above the 50 DMA line ($47) still is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Average Needed for Outlook to Improve - 10/10/2019 |
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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 |
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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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