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AFTER MARKET UPDATE - THURSDAY, DECEMBER 27TH, 2018
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DOW |
+260.37 |
23,138.82 |
+1.14% |
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Volume |
1,079,141,450 |
+1% |
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Volume |
2,416,447,870 |
-5% |
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NASDAQ |
+25.13 |
6,579.49 |
+0.38% |
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Advancers |
1,619 |
54% |
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Advancers |
1,570 |
51% |
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S&P 500 |
+21.13 |
2,488.83 |
+0.86% |
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Decliners |
1,376 |
46% |
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Decliners |
1,524 |
49% |
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Russell 2000 |
+2.01 |
1,331.82 |
+0.15% |
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52 Wk Highs |
6 |
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52 Wk Highs |
1 |
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S&P 600 |
+3.49 |
835.37 |
+0.42% |
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52 Wk Lows |
219 |
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52 Wk Lows |
302 |
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Indices Overcame Weakness to Post Modest Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished higher on Thursday. The Dow climbed 260 points to 23,138, reversing a decline of more than 600 points earlier in the session. The S&P 500 added 21 points to 2,488, while the Nasdaq Composite gained 25 points to 6,579. The volume totals were mixed, higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Advancers led decliners by an 8-7 margin on the NYSE and an even narrower margin on the Nasdaq exchange. Leadership remained elusive, however, as zero high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page. New 52-week lows totals solidly outnumbered new 52-week highs totals which were still in the single digits on both the NYSE and on the Nasdaq exchange. The major indices (M criteria) are still in a correction despite the big day of gains. Disciplined investors will wait for a convincing follow-through day, ideally between Day 4 and Day 7 of the rally attempt, to signal a change in market direction (M criteria) back to a bullish stance. 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 rebounded from a new 2018 low, marking Day 2 of a new rally attempt.
The major averages each erased a morning pullback of more than 2%, continuing the pattern of sharp swings in afternoon trading that has persisted throughout the fourth quarter. The wild session followed a Wednesday rally that saw the Dow post its first-ever 1,000 point gain, and the best session for the S&P 500 since 2009. On the data front, the Conference Board’s consumer confidence gauge slipped to a five-month low of 128.1 in December, from the previous month’s upwardly revised reading of 136.4.
All 11 S&P 500 sectors finished in positive territory with the Materials and Financials leading gains. Consumer Staples also outperformed with Proctor and Gamble (PG +2.1%) rose. The Consumer Discretionary group which led the rally Wednesday was a notable underperformer, with Amazon (AMZN -0.6%) ending lower. In corporate news, JD.com (JD +2.8%) rose after the Chinese ecommerce company announced plans to divide its primary unit into three parts.
Treasuries modestly strengthened with the yield on the 10-year note off three basis points to 2.78%. In commodities, WTI crude lost 3.5% to $44.61/barrel. COMEX gold added 0.6% to $1,277.30/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial and Tech Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.72%) and the Bank Index ($BKX +0.43%) each posted small gains while the Retail Index ($RLX -0.07%) finished flat. The tech sector had a positive bias as the Networking Index ($NWX +1.21%) outpaced the Semiconductor Index ($SOX +0.74%) and the Biotech Index ($BTK +0.13%). Energy-linked groups were mixed as the Oil Services Index ($OSX -1.09%) slumped and the Integrated Oil Index ($XOI +0.65%) notched a modest gains. The Gold & Silver Index ($XAU +1.15%) also rose.
Charts courtesy of www.stockcharts.com
 PICTURED: The Biotech Index ($BTK +0.13%) is rebounding after a steep slump.
| Oil Services |
$OSX |
79.71 |
-0.87 |
-1.08% |
-46.70% |
| Integrated Oil |
$XOI |
1,161.82 |
+7.54 |
+0.65% |
-13.01% |
| Semiconductor |
$SOX |
1,139.49 |
+8.39 |
+0.74% |
-9.06% |
| Networking |
$NWX |
479.50 |
+5.72 |
+1.21% |
-2.25% |
| Broker/Dealer |
$XBD |
235.73 |
+1.69 |
+0.72% |
-11.13% |
| Retail |
$RLX |
1,918.36 |
-0.14 |
-0.01% |
+10.65% |
| Gold & Silver |
$XAU |
70.78 |
+0.80 |
+1.14% |
-16.99% |
| Bank |
$BKX |
85.04 |
+0.37 |
+0.44% |
-20.31% |
| Biotech |
$BTK |
4,128.44 |
+5.17 |
+0.13% |
-2.22% |
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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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$26.32
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+0.02
0.08% |
$26.32
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36,588
104.54% of 50 DAV
50 DAV is 35,000
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$29.40
-10.48%
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11/30/2018
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$28.35
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PP = $29.50
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MB = $30.98
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Most Recent Note - 12/26/2018 4:51:51 PM
G - Rebounded above its closely coinciding 50-day and 200-day moving average (DMA) lines with today's gain on average volume. Resistance remains due to overhead supply up to the $29 level.
>>> FEATURED STOCK ARTICLE : Failed to Produce Buy Signal and Deterioration Raised Concern - 12/20/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
UBNT
-
NASDAQ
Ubiquiti Networks
TELECOMMUNICATIONS - Diversified Communication Serv
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$98.24
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+1.07
1.10% |
$98.52
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254,127
54.42% of 50 DAV
50 DAV is 467,000
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$115.44
-14.90%
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11/9/2018
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$108.20
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PP = $101.43
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MB = $106.50
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Most Recent Note - 12/26/2018 4:55:10 PM
G - Posted a gain today on light volume. A rebound above the 50 DMA line ($100.50) is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Still Hovering Above "Max Buy" Level - 12/11/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
PLNT
-
NYSE
Planet Fitness Inc Cl A
Leisure-Services
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$53.21
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+1.51
2.92% |
$53.21
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1,458,867
118.22% of 50 DAV
50 DAV is 1,234,000
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$58.50
-9.04%
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11/7/2018
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$57.10
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PP = $55.45
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MB = $58.22
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Most Recent Note - 12/27/2018 5:23:42 PM
Y - Rebounded further above its 50 DMA line ($51.74) with today's gain on near average volume and its color code is changed to yellow. It faces little resistance due to overhead supply up to the $58.50 level. Found support near the recent low ($48.02 on 11/20/18) and above its 200 DMA line ($46.68) which defines the next important support. More damaging losses would raise concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Fitness Firm Remains Near High Despite Unhealthy Environment - 12/14/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
INVA
-
NASDAQ
Innoviva Inc
Medical-Biomed/Biotech
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$16.96
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+0.22
1.31% |
$16.97
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532,284
46.05% of 50 DAV
50 DAV is 1,156,000
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$18.60
-8.82%
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11/23/2018
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$17.74
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PP = $18.09
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MB = $18.99
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Most Recent Note - 12/26/2018 4:50:10 PM
Y - Color code is changed to yellow after rebounding above its 50 DMA line ($16.38) helped its outlook to improve. Faces near-term resistance due to overhead supply up to the $19.60 level.
>>> FEATURED STOCK ARTICLE : Perched Near High With Volume Totals Cooling - 12/13/2018 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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,
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