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AFTER MARKET UPDATE - MONDAY, OCTOBER 21ST, 2024
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DOW |
-344.31 |
42,931.60 |
-0.80% |
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Volume |
815,132,594 |
-0% |
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Volume |
6,246,835,900 |
+7% |
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NASDAQ |
+50.45 |
18,540.01 |
+0.27% |
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Advancers |
575 |
21% |
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Advancers |
1,343 |
31% |
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S&P 500 |
-10.69 |
5,853.98 |
-0.18% |
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Decliners |
2,184 |
79% |
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Decliners |
2,921 |
68% |
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Russell 2000 |
-36.38 |
2,239.71 |
-1.60% |
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52 Wk Highs |
131 |
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52 Wk Highs |
127 |
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S&P 600 |
-24.98 |
1,410.18 |
-1.74% |
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52 Wk Lows |
25 |
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52 Wk Lows |
69 |
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Breadth Negative as Major Indices Pulled Back
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Nasdaq Composite outperformed other major indices, climbing 0.3%. The S&P 500 (-0.2%) and the Dow Jones Industrial Average (-0.8%) both ended lower. The volume reported was near the prior session total on the NYSE and higher on the Nasdaq exchange. Decliners led advancers by almost a 4-1 margin on the NYSE and more than 2-1 on the Nasdaq exchange. There were 53 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 103 on the prior session. New 52-week highs totals contracted yet still 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 Dow Jones Industrial Average pulled back from its all-time high.
The 10-yr yield settled 11 basis points higher at 4.18% and the 2-yr yield settled seven basis points higher at 4.02%.
Gains in some mega cap names including NVIDIA (NVDA +4.1%) were influential. Meanwhile, 23 of the 30 Dow components fell. Ten of the 11 S&P 500 sectors declined. The information technology sector (+0.9%) was a standout gainer. The rate-sensitive real estate sector (-2.1%) logged the largest decline. The health care sector (-1.2%) was the next worst performer. A sizable decline in shares of Cigna (CI -4.7%) came as Bloomberg reported that it was in talks to takeover Humana (HUM -2.5%).
The latest earnings reports from Boeing (BA +3.1%) and UPS (UPS -3.4%) are due this week.
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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, Retail, and Biotech Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -0.95%), Bank Index ($BKX -1.78%), and the Retail Index ($RLX -0.53%) all finished lower. The Semiconductor Index ($SOX +0.13%) eked out a small gain while the Networking Index ($NWX -0.37%) and the Biotech Index ($BTK -1.07%) both fell. The Gold & Silver Index ($XAU +0.50%) and the Oil Services Index ($OSX +0.13%) both rose while the Integrated Oil Index ($XOI -0.46%) ended in the red.
PICTURED: The Retail Index ($RLX -0.53%) is consolidating above its 50-day moving average (DMA) line, perched near its 2024 high.
| Oil Services |
$OSX |
76.14 |
+0.10 |
+0.13% |
-9.22% |
| Integrated Oil |
$XOI |
1,905.61 |
-8.90 |
-0.47% |
+2.32% |
| Semiconductor |
$SOX |
5,215.21 |
+6.60 |
+0.13% |
+24.90% |
| Networking |
$NWX |
1,162.71 |
-4.30 |
-0.37% |
+39.61% |
| Broker/Dealer |
$XBD |
741.27 |
-7.13 |
-0.95% |
+33.01% |
| Retail |
$RLX |
4,724.48 |
-25.23 |
-0.53% |
+21.49% |
| Gold & Silver |
$XAU |
172.17 |
+0.86 |
+0.50% |
+36.98% |
| Bank |
$BKX |
120.35 |
-2.18 |
-1.78% |
+25.34% |
| Biotech |
$BTK |
5,889.52 |
-63.60 |
-1.07% |
+8.69% |
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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 |
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Max Buy |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$103.75
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+0.00
0.00% |
$104.67
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47,755
82.34% of 50 DAV
50 DAV is 58,000
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$105.59
-1.74%
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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 - 10/17/2024 5:18:41 PM
G - Hit another new all-time high with today's gain backed by near average volume. Prior high in the $87 area defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Above Prior Highs Near All-Time High - 10/7/2024 |
View all notes |
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News |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$83.69
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+1.46
1.78% |
$84.06
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1,068,965
196.50% of 50 DAV
50 DAV is 544,000
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$83.28
0.49%
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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 - 10/21/2024 1:53:01 PM
G - Hitting yet another new all-time high with today's gain. Its 50 DMA line ($76.41) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$181.02
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-2.87
-1.56% |
$182.94
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589,157
91.48% of 50 DAV
50 DAV is 644,000
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$184.19
-1.72%
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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 - 10/18/2024 4:26:48 PM
Y - Gain for a new all-time high close today was backed by below-average volume. Recently noted rebound above the 50 DMA line ($170) helped its outlook to improve. Faces no resistance due to overhead supply. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for New High Close - 10/18/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$106.32
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+0.78
0.74% |
$106.93
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1,724,357
80.62% of 50 DAV
50 DAV is 2,139,000
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$106.76
-0.41%
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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 - 10/21/2024 1:54:06 PM
G - Perched at its all-time high, extended from any sound bases. Prior highs in the $98 area coincide with its 50 DMA ($98.14) defining important near-term support to watch.
>>> 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 |
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C
A
S
I |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$2,100.58
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+20.79
1.00% |
$2,102.98
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217,397
77.64% of 50 DAV
50 DAV is 280,000
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$2,161.73
-2.83%
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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 - 10/17/2024 5:15:47 PM
G - Posted a 2nd small gain today with below-average volume, making steady progress after finding prompt support near its 50 DMA line ($2,026). Little near-term resistance remains due to overhead supply up to the $2,161 level.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line - 10/3/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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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 |
NGVC
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NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$26.87
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-0.47
-1.72% |
$27.82
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89,190
100.21% of 50 DAV
50 DAV is 89,000
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$30.32
-11.38%
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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 - 10/18/2024 3:48:18 PM
G - Pulling back today with even lighter volume after 3 consecutive gains with below-average volume. It remains above its 50 DMA line ($26.56) but it is slumping back below the previously cited pivot point again.
>>> 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 |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$56.68
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-1.14
-1.97% |
$57.66
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2,340,482
124.43% of 50 DAV
50 DAV is 1,881,000
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$64.56
-12.21%
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10/11/2024
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$57.62
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PP = $63.59
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MB = $66.77
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Most Recent Note - 10/21/2024 1:55:22 PM
Y - Pulling back today for a 5th consecutive loss since rallying to a new all-time high. Color code was changed to yellow with a new pivot point cited based on its 7/16/24 high plus 10 cents. Subsequent gains and strong close above the pivot point backed by at least +40% above average volume may trigger a proper new technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Celistica Hits New All-Time High With 8th Straight Gain - 10/11/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
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$24.89
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-1.75
-6.57% |
$26.78
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437,783
214.60% of 50 DAV
50 DAV is 204,000
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$27.06
-8.02%
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10/17/2024
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$26.15
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PP = $25.31
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MB = $26.58
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Most Recent Note - 10/21/2024 1:45:44 PM
Y - Color code is changed to yellow today after pulling back below its "max buy" level following 6 consecutive volume-driven gains. Prior high in the $25 area defines initial support to watch.
>>> FEATURED STOCK ARTICLE : Paymentus Featured Breaking Out With Volume Driven Gains - 10/17/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
at any time. Questions or comments may be submitted
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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