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AFTER MARKET UPDATE - THURSDAY, NOVEMBER 14TH, 2024
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DOW |
-207.33 |
43,750.86 |
-0.47% |
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Volume |
946,533,584 |
-2% |
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Volume |
8,716,339,400 |
-11% |
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NASDAQ |
-123.07 |
19,107.65 |
-0.64% |
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Advancers |
1,022 |
38% |
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Advancers |
1,390 |
32% |
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S&P 500 |
-36.21 |
5,949.17 |
-0.60% |
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Decliners |
1,686 |
62% |
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Decliners |
2,895 |
68% |
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Russell 2000 |
-32.43 |
2,336.94 |
-1.37% |
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52 Wk Highs |
108 |
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52 Wk Highs |
113 |
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S&P 600 |
-18.86 |
1,476.62 |
-1.26% |
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52 Wk Lows |
59 |
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52 Wk Lows |
203 |
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Leaderhip Thinned as Major Indices Fell With Lighter Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 and the Nasdaq Composite both fell -0.6%, and the Dow Jones Industrial Average fell -0.5% while the Russell 2000 underperformed with a -1.4% loss on Thursday. Volume totals reported were lighter than the prior session totals on the NYSE and on the Nasdaq exchange, action indicative of less institutional selling pressure. Breadth was negative as decliners led advancers by an 8-5 margin on the NYSE and a 2-1 margin on the Nasdaq exchange. Leadership thinnned as there were 37 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 85 on the prior session. New 52-week highs totals still outnumbered new 52-week lows on the NYSE, but new lows outnumbered new highs 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 600 Small Cap Index pulled back for a 3rd consecutive loss, retreating from its new all-time high.
The October Producer Price Index reflected rising inflation at the wholesale level. weekly jobless claims remained below recession-like levels, reflecting ongoing strength in the labor market that may translate to higher consumer spending, piling more pressure on inflation. Remarks by Fed Chair Powell in the afternoon indicated that the "economy is not sending any signals that we need to be in a hurry to lower rates."
Losses were broad based, with nine of the 11 S&P 500 sectors falling, and three of them closed more than -1.5% lower. Dow component Walt Disney (DIS +6.23%) was a standout gainer, jumping in response to earnings news. Treasuries saw the 10-yr yield settle three basis points lower at 4.42% and the 2-yr yield settled one basis point higher at 4.29%.
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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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Gold & Silver and Integrated Oil Indexes Posted Small Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.04%) and the Bank Index ($BKX -0.30%) both lost ground while the Broker/Dealer Index ($XBD +0.19%) eked out a tiny gain on Thursday. The tech sector had a negative bias as the Semiconductor Index ($SOX -0.03%) finished flat but the Networking Index ($NWX -1.40%) and the Biotech Index ($BTK -2.84%) both lost ground. The Gold & Silver Index ($XAU +0.86%) and the Integrated Oil Index ($XOI +0.66%) both rose while the Oil Services Index ($OSX -0.58%) lost ground.
PICTURED: The Integrated Oil Index ($XOI +0.66%) has rebounded above its 50-day moving average (DMA) withn recent gains.
| Oil Services |
$OSX |
78.01 |
-0.46 |
-0.58% |
-7.00% |
| Integrated Oil |
$XOI |
1,949.81 |
+12.79 |
+0.66% |
+4.69% |
| Semiconductor |
$SOX |
5,004.59 |
-1.70 |
-0.03% |
+19.86% |
| Networking |
$NWX |
1,179.94 |
-16.76 |
-1.40% |
+41.68% |
| Broker/Dealer |
$XBD |
827.74 |
+1.56 |
+0.19% |
+48.53% |
| Retail Index |
$RLX |
5,068.21 |
-53.49 |
-1.04% |
+30.33% |
| Gold & Silver |
$XAU |
144.65 |
+1.23 |
+0.86% |
+15.08% |
| Bank |
$BKX |
133.65 |
-0.41 |
-0.30% |
+39.19% |
| Biotech |
$BTK |
5,851.75 |
-171.21 |
-2.84% |
+7.99% |
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Extended From Prior Base After Considerable Spike Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Paymentus Holdings (PAY -$1.25 or -3.70% to $32.55) pulled back today. It rallied considerably after it recently reported Sep '24 quarterly earnings +67% on +52% sales revenues versus the year ago period. A considerable volume-driven gain took it well above its "max buy" level. PAY now has a 98 Earnings Per Share Rating and a 97 Relative Strength Rating.
PAY found support near prior highs in the $24-25 area during the recent consolidation after it was highlighted in yellow with new pivot point cited based on its 3/21/24 high plus 10 cents in the 10/17/24 mid-day report (read here). It was shown greater detail in this FSU section on 10/17/24 with an annotated graph under the headline, "Paymentus Featured Breaking Out With Volume Driven Gains". It was noted that it broke out above the August '24 high on the prior session and continued higher with a 6th consecutive volume-driven gain. It has rallied impressively from support at its 200 DMA line ($20) since dropped from the Featured Stocks list on 5/07/24.
The number of top-rated funds owning its shares rose from 112 in Dec '23 to 143 in Sep '24, a reassuring concerning the I criteria. Its current Up/Down Volume Ratio of 2.1 is an unbiased sign its shares have been under accumulation over the past 50 days.
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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
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$141.01
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-1.57
-1.10% |
$144.90
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93,612
135.67% of 50 DAV
50 DAV is 69,000
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$146.70
-3.88%
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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 - 11/12/2024 5:27:28 PM
G - Pulled back from its all-time high with today's 2nd consecutive volume-driven loss following a noted spurt of volume-driven gains. Its 50 DMA line ($100) defines important near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Impressive Rally - 11/12/2024 |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$95.74
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-1.00
-1.03% |
$97.56
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524,865
75.41% of 50 DAV
50 DAV is 696,000
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$99.32
-3.60%
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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 - 11/13/2024 5:48:02 PM
G - Perched near its all-time high, holding its ground while very extended from any sound base. Bullish action has come after it reported Sep '24 quarterly earnings +19% on +14% sales revenues versus the year-ago period, below the +25% minimum guideline (C criteria) of the fact-based investment system.
>>> FEATURED STOCK ARTICLE : Extended From Base After Streak of Gains for New Highs - 11/8/2024 |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$198.91
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-1.68
-0.84% |
$203.32
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678,159
92.14% of 50 DAV
50 DAV is 736,000
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$201.35
-1.21%
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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 - 11/12/2024 2:12:20 PM
G - Volume totals have been cooling while holding its ground after a gap up on 11/06/24 hitting a new all-time high. Prior highs in the $177-180 area define important support to watch coinciding with its 50 DMA line ($178).
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for New High Close - 10/18/2024 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$113.22
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-2.55
-2.20% |
$116.74
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2,584,870
113.32% of 50 DAV
50 DAV is 2,281,000
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$116.59
-2.89%
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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 - 11/12/2024 2:18:39 PM
G - Stubbornly holding its ground perched at its all-time high, extended from any sound base. Its prior high ($106.93 on 10/21/24) and 50 DMA line ($101) define near-term support levels to watch on pullbacks. Reported Sep '24 quarterly earnings +54% on +11% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Found Support at 50-Day Moving Average Line Before Earnings Report - 11/5/2024 |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$32.80
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-0.72
-2.15% |
$33.69
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50,574
55.58% of 50 DAV
50 DAV is 91,000
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$34.76
-5.64%
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11/5/2024
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$30.57
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PP = $30.42
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MB = $31.94
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Most Recent Note - 11/13/2024 5:50:00 PM
G - Pulled back from its all-time high with today's loss on lighter volume breaking a streak of 6 consecutive gains marked by higher volume. Prior high in the $30 area defines initial support to watch above its 50 DMA line ($28.18).
>>> FEATURED STOCK ARTICLE : New High After 6th Consecutive Gain - 11/11/2024 |
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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 |
CLS
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NYSE
Celestica
Elec-Contract Mfg
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$80.48
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-1.57
-1.91% |
$83.16
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2,111,408
91.88% of 50 DAV
50 DAV is 2,298,000
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$87.99
-8.54%
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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 - 11/13/2024 5:46:44 PM
G - Pulled back from its all-time high with today's 3rd consecutive loss backed by average volume. It is very extended from any sound base. The prior highs in the $63 area define initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulling Back After Considerable Rally - 11/13/2024 |
View all notes |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
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$32.55
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-1.25
-3.70% |
$34.00
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789,479
279.07% of 50 DAV
50 DAV is 282,900
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$37.00
-12.03%
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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 - 11/14/2024 5:07:06 PM
G - Pulled back today. It spiked higher on the prior session after it reported Sep '24 quarterly earnings +67% on +52% sales revenues versus the year ago period. It found support near prior highs in the $24-25 area during the recent consolidation. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After Considerable Spike Higher - 11/14/2024 |
View all notes |
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C
A
S
I |
RMD
-
NYSE
Resmed Inc
HEALTH SERVICES - Medical Appliances and Equipment
|
$231.43
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-4.01
-1.70% |
$236.89
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1,084,137
102.86% of 50 DAV
50 DAV is 1,054,000
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$260.49
-11.16%
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10/25/2024
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$256.64
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PP = $255.28
|
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MB = $268.04
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Most Recent Note - 11/13/2024 5:52:09 PM
G - Color code is changed to green after today's big loss violated its 50 DMA line ($243) triggering a technical sell signal and it closed near the session low. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : ResMed Negated Friday's Breakout Raising Concerns - 10/28/2024 |
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C
A
S
I |
ATGE
-
NYSE
Adtalem Global Education
Consumer Svcs-Education
|
$84.82
|
-5.03
-5.60% |
$90.09
|
463,265
125.55% of 50 DAV
50 DAV is 369,000
|
$92.93
-8.73%
|
10/30/2024
|
$83.34
|
PP = $80.28
|
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MB = $84.29
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Most Recent Note - 11/14/2024 5:09:13 PM
G - Pulled back today with +28% above average volume, retreating toward its "max buy" level. It quickly got extended from the previously noted base with a noted spurt of volume-driven gains. Prior highs in the $80 area define initial support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Holding Ground Following Recent Technical Breakout - 11/4/2024 |
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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.
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