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AFTER MARKET UPDATE - MONDAY, NOVEMBER 18TH, 2024
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DOW |
-55.39 |
43,389.60 |
-0.13% |
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Volume |
906,359,555 |
-21% |
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Volume |
8,522,588,700 |
+4% |
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NASDAQ |
+111.69 |
18,791.81 |
+0.60% |
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Advancers |
1,559 |
58% |
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Advancers |
2,139 |
49% |
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S&P 500 |
+23.00 |
5,893.62 |
+0.39% |
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Decliners |
1,139 |
42% |
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Decliners |
2,188 |
51% |
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Russell 2000 |
+2.51 |
2,306.34 |
+0.11% |
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52 Wk Highs |
102 |
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52 Wk Highs |
89 |
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S&P 600 |
-0.46 |
1,462.51 |
-0.03% |
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52 Wk Lows |
60 |
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52 Wk Lows |
271 |
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Major Indices Had Positive Bias but Dow Industrials Lagged
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.4%), Nasdaq Composite (+0.6%), and Russell 2000 (+0.1%) closed with gains Volume totals reported were mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Advancers led decliners by a 5-4 margin on the NYSE while the mix was nearly even on the Nasdaq exchange. There were 24 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 12 on the prior session. New 52-week highs 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 500 Index posted a gain on Monday with lighter volume after retreating with higher volume behind Friday's loss.
The latest economic data included the November NAHB Housing Market Index, which rose to 46 in November from 43 in October. The 10-yr yield approached 4.50% settled one basis point lower at 4.41%. Looking ahead to Tuesday morning, the October Housing Starts and Building Permits report will be released.
NVIDIA (NVDA -1.29%) traded lower after reports suggested customers are concerned about overheating issues with its AI chips. Tesla (TSLA +5.62%) was up on news from Bloomberg that the Trump administration may ease regulations on self-driving cars.
Nine out of the 11 sectors closed higher. The S&P 500 consumer discretionary sector rose +0.9%, the energy sector (+1.0%) also rose as WTI crude oil futures settled +3.2% higher at $69.18/bbl. Natural gas futures settled +5.3% higher at $2.97 per mmbtu. The health care sector settled little changed while Eli Lilly (LLY -2.55%) created a drag.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Semiconductor, Broker/Dealer, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.31%) posted a solid gain on Monday but the Bank Index ($BKX -0.07%) and the Retail Index ($RLX -0.17%) both ended slightly in the red. The tech sector was mixed as the Semiconductor Index ($SOX +1.14%) posted a gain while the Networking Index ($NWX -0.48%) and the Biotech Index ($BTK -0.14%) each lost some ground. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +4.17%), Oil Services Index ($OSX +1.43%), and the Integrated Oil Index ($XOI +1.37%) each posted gains.
PICTURED: The Networking Index ($NWX -0.48%) has slumped to its 50-day moving average (DMA) line from its recent all-time high.
| Oil Services |
$OSX |
77.63 |
+1.10 |
+1.43% |
-7.45% |
| Integrated Oil |
$XOI |
1,964.66 |
+26.51 |
+1.37% |
+5.49% |
| Semiconductor |
$SOX |
4,888.77 |
+55.18 |
+1.14% |
+17.08% |
| Networking |
$NWX |
1,146.48 |
-5.57 |
-0.48% |
+37.66% |
| Broker/Dealer |
$XBD |
840.53 |
+10.86 |
+1.31% |
+50.83% |
| Retail Index |
$RLX |
4,917.42 |
-8.33 |
-0.17% |
+26.45% |
| Gold & Silver |
$XAU |
149.14 |
+5.97 |
+4.17% |
+18.65% |
| Bank |
$BKX |
134.69 |
-0.09 |
-0.07% |
+40.27% |
| Biotech |
$BTK |
5,568.29 |
-7.87 |
-0.14% |
+2.76% |
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Recent Slump Below 50-Day Moving Average Raised Concerns
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
ResMed Medical-Products (RMD +$4.68 or +1.99% to $239.42) posted a gain rebounding toward its 50-day moving average ($242.64) which may now act as resistance. Losses last week violated its 50 DMA line triggering a technical sell signal. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
RMD was highlighted in yellow in the 10/25/24 mid-day report (read here) with pivot point cited based on its 9/09/24 high plus 10 cents after it gapped up hitting new multi-year highs. Although it triggered a triggered a technical buy signal, the very next day's loss and close back below the pivot point promptly negated the breakout raising concerns. It was last shown in this FSU section on 10/28/24 with an annotated graph under the headline, "ResMed Negated Friday's Breakout Raising Concerns". Confirming gains for new highs would be a reassuring signing of fresh institutional buying demand that could lead to a sustained and meaningful advance.
RMD has a 96 Earnings Per Share Rating, well above the 80+ minimum guideline for buy candidates. It reported earnings +34% on +31% sales revenues for the Sep '24 quarter versus the year-ago period, marking its 3rd strong comparison above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been steady.
The number of top-rated funds owning its shares rose from 1,739 in Dec '23 to 1,931 in Sep '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under accumulation over the past 50 days.
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 | $143.14 | +1.93
1.37% | $145.63 | 66,898
95.57% of 50 DAV
50 DAV is 70,000 | $146.70
-2.43%
| 9/17/2024 | $71.26 | PP = $87.23 | | MB = $91.59 |  Most Recent Note - 11/18/2024 3:32:18 PM
G - Hovering near its all-time high, holding its ground following a noted spurt of volume-driven gains. Its 50 DMA line ($105.48) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Impressive Rally - 11/12/2024 | 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 | $96.45 | +0.84
0.88% | $97.80 | 356,299
51.05% of 50 DAV
50 DAV is 698,000 | $99.32
-2.89%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 | 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 | 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 | $195.77 | -2.22
-1.12% | $199.04 | 556,909
75.26% of 50 DAV
50 DAV is 740,000 | $203.32
-3.71%
| 7/26/2024 | $173.08 | PP = $175.82 | | MB = $184.61 | Most Recent Note - 11/18/2024 3:31:08 PM
G - Volume totals have still been cooling while hovering near its all-time high. Its 50 DMA line ($181) and prior highs in the $177-180 area define important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Near High After Recent Volume-driven Gains - 11/15/2024 | 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 | $113.17 | +1.16
1.04% | $113.44 | 1,816,734
81.25% of 50 DAV
50 DAV is 2,236,000 | $116.74
-3.06%
| 7/30/2024 | $93.95 | PP = $85.52 | | MB = $89.80 | Most Recent Note - 11/18/2024 3:29:27 PM
G - Hovering near its all-time high, extended from any sound base. Its prior high ($106.93 on 10/21/24) and 50 DMA line ($102.75) define near-term support levels to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Found Support at 50-Day Moving Average Line Before Earnings Report - 11/5/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | NGVC - NYSE
Natural Grocers
Retail-Super/Mini Mkts | $32.93 | +0.09
0.27% | $33.46 | 64,570
73.38% of 50 DAV
50 DAV is 88,000 | $34.76
-5.26%
| 11/5/2024 | $30.57 | PP = $30.42 | | MB = $31.94 | 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 | 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 | CLS - NYSE
Celestica
Elec-Contract Mfg | $83.97 | +1.79
2.18% | $86.40 | 2,385,407
105.27% of 50 DAV
50 DAV is 2,266,000 | $87.99
-4.57%
| 10/11/2024 | $57.62 | PP = $63.59 | | MB = $66.77 | Most Recent Note - 11/18/2024 5:18:56 PM
G - Gapped up today for a gain challenging its all-time high but it ended near the session low. It is very extended from any sound base. The prior highs in the $63 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pulling Back After Considerable Rally - 11/13/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | PAY - NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr | $35.22 | +1.72
5.13% | $35.50 | 878,390
288.94% of 50 DAV
50 DAV is 304,000 | $37.00
-4.81%
| 10/17/2024 | $26.15 | PP = $25.31 | | MB = $26.58 | Most Recent Note - 11/18/2024 1:04:45 PM
G - Posting another volume-driven gain today. Held its ground after spiking higher on 11/13/24 when 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 an annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After Considerable Spike Higher - 11/14/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | RMD - NYSE
ResMed
Medical-Products | $239.42 | +4.68
1.99% | $240.22 | 756,885
70.67% of 50 DAV
50 DAV is 1,071,000 | $260.49
-8.09%
| 10/25/2024 | $256.64 | PP = $255.28 | | MB = $268.04 | Most Recent Note - 11/18/2024 5:17:30 PM
G - Rebounded toward its 50 DMA line ($242.64) which may act as resistance. Losses last week violated its 50 DMA line triggering a technical sell signal. A prompt rebound is needed for its outlook to improve. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Recent Slump Below 50-Day Moving Average Raised Concerns - 11/18/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | ATGE - NYSE
Adtalem Global Education
Consumer Svcs-Education | $87.34 | +0.14
0.16% | $88.20 | 409,827
109.00% of 50 DAV
50 DAV is 376,000 | $92.93
-6.02%
| 10/30/2024 | $83.34 | PP = $80.28 | | MB = $84.29 | 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 | 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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