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AFTER MARKET UPDATE - FRIDAY, JUNE 30TH, 2023
Previous After Market Report Next After Market Report >>>
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DOW |
+285.18 |
34,407.60 |
+0.84% |
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Volume |
1,024,050,815 |
+24% |
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Volume |
4,700,890,000 |
+7% |
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NASDAQ |
+196.59 |
13,787.92 |
+1.45% |
|
Advancers |
2,022 |
70% |
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Advancers |
2,546 |
59% |
|
S&P 500 |
+53.94 |
4,450.38 |
+1.23% |
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Decliners |
847 |
30% |
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Decliners |
1,788 |
41% |
|
Russell 2000 |
+7.14 |
1,888.73 |
+0.38% |
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52 Wk Highs |
215 |
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52 Wk Highs |
171 |
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S&P 600 |
+1.40 |
1,216.35 |
+0.12% |
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52 Wk Lows |
15 |
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52 Wk Lows |
75 |
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Leadership Expanded as Second Quarter Ended With Strong Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow, Nasdaq, and S&P 500 all closed near their highs for the session. The Russell 2000, which outperformed on Thursday, trailed the action on Friday but still logged a tidy 0.4% gain. The last day of the second quarter ended with a punctuation point on what marked the best first half of the year for the Nasdaq Composite (+31.7%) since 1983! The volume totals reported were higher on the NYSE and on the Nasdaq exchange versus the prior session. Breadth was positive as advancers led decliners by more than a 2-1 margin on the NYSE and by almost a 3-2 margin on the Nasdaq exchange. Leadership ex[panded as there were 128 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 89 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Appropriate new buying efforts may be considered under the fact-based investment system.
PICTURED: The S&P 500 Index hit a new 2023 high and is up +15.9% year-to-date.
All 11 S&P 500 sectors ended the day higher. The tone for Friday's winning session was set early when Citigroup started coverage of Apple (AAPL +2.3%) with a Buy rating and $240 price target and Apple surpassed a $3 trillion market capitalization threshold. The information technology (+1.8%) and consumer discretionary (+1.4%) sectors were the best performers, led by their mega-cap constituents. The consumer discretionary sector overcame a weak showing from Nike (NKE -2.7%), which disappointed with its fiscal Q4 results.
The release of the Personal Income and Spending Report for May played into the optimistic view that the U.S. economy could in fact avoid a recession. Personal income increased 0.4%, personal spending jumped 0.1%, the PCE Price Index rose 0.1%, and the core-PCE Price Index, which excludes food and energy, advanced 0.3%. The year-over-year increase for the PCE Price Index moderated to 3.8% from 4.3% and the year-over-year rate for the core-PCE Price Index moderated to 4.6% from 4.7%. T
The Treasury market looked placated by what it saw in the data. Yields came down immediately after the report was released at 8:30 a.m. ET. The 2-yr note yield went from 4.92% to 4.84% and settled the session unchanged at 4.88%. The 10-yr note yield dropped from 3.88% to 3.82% where it settled for the 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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Retail, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.58%) posted an influential gain on Friday while the Bank Index ($BKX +0.22%) inched higher and the Broker/Dealer Index ($XBD -0.09%) ended slightly in the red. The tech sector had a positive bias as the Biotech Index ($BTK +0.62%), Networking Index ($NWX +0.91%) and the Semiconductor Index ($SOX +1.63%) posted unanimous gains. The Gold & Silver Index ($XAU +1.72%), Oil Services Index ($OSX +1.44%) and the Integrated Oil Index ($XOI +0.78%) rounded out the positive session with solid gains.
PICTURED: The Bank Index ($BKX +0.22%) posted a small gain. It has been consolidating above its 50-day moving average (DMA) line but well below its 200 DMA line.
| Oil Services |
$OSX |
79.08 |
+1.13 |
+1.44% |
-5.70% |
| Integrated Oil |
$XOI |
1,679.30 |
+13.02 |
+0.78% |
-6.04% |
| Semiconductor |
$SOX |
3,673.06 |
+58.88 |
+1.63% |
+45.06% |
| Networking |
$NWX |
850.34 |
+7.67 |
+0.91% |
+8.56% |
| Broker/Dealer |
$XBD |
471.69 |
-0.41 |
-0.09% |
+5.02% |
| Retail |
$RLX |
3,475.55 |
+54.21 |
+1.58% |
+26.20% |
| Gold & Silver |
$XAU |
120.03 |
+2.03 |
+1.72% |
-0.69% |
| Bank |
$BKX |
80.21 |
+0.18 |
+0.22% |
-20.47% |
| Biotech |
$BTK |
5,225.24 |
+32.35 |
+0.62% |
-1.06% |
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New High Close for Strong Homebuilder
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
NVR Inc (NVR +$55.01 or +0.87% to $6,350.62) managed a best-ever close today and remains perched at ts all-time high. Its 50-day moving average (DMA) line ($5,824) defines near-term support watch on pullbacks.
NVR was last shown in this FSU section in detail on 6/06/23 with an annotated graph under the headline, "Rebounded Above 50 Day Average With Light Volume Gains". It was highlighted in yellow in the 4/25/23 mid-day report (read here) with pivot point cited based on its 12/30/21 high plus 10 cents. Concerns were soon raised, however, after it reported Mar '23 quarterly earnings -14% on -8% sales revenues, a noted fundamental flaw. Prior quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been very strong. Despite the latest subpar quarter it still has a 91 Earnings Per Share Rating, well abov the 80+ minimum for buy candidates.
The Building - Residential/Commercial industry group is currently ranked 12th on the 197 Industry Groups list (L criteria). The number of top-rated funds owning its shares rose from 1,548 in Dec '22 to 1,632 in Mar '23. Its current Up/Down Volume Ratio of 1.4 is an unbiased indication 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 |
GPK
-
NYSE
Graphic Packaging Hldg
CONSUMER NON-DURABLES - Packaging and Containers
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$23.67
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-0.35
-1.46% |
$23.70
|
5,693,484
1,270.30% of 50 DAV
50 DAV is 448,200
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$27.56
-14.11%
|
10/25/2022
|
$22.75
|
PP = $24.17
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MB = $25.38
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Most Recent Note - 6/29/2023 12:49:41 PM
G - Gapped down today violating its 200 DMA line ($23.35) then rebounded above that important long-term average. A rebound above the 50 DMA line ($25.17) is needed to help its outlook improve. Its Relative Strength Rating has slumped to 64, below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Graphic Packaging Hits New High With 6th Consecutive Gain - 6/8/2023 |
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C
A
S
I |
STRL
-
NASDAQ
Sterling Infrastructure
Bldg-Heavy Construction
|
$55.79
|
+1.99
3.70% |
$55.86
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323,252
113.42% of 50 DAV
50 DAV is 285,000
|
$54.80
1.81%
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12/14/2022
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$32.41
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PP = $33.72
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MB = $35.41
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Most Recent Note - 6/28/2023 5:11:39 PM
G - Posted a gain today with average volume wedging to a new all-time high, extended from any sound base. Mar '23 quarterly earnings were below the +25% minimum guideline (C criteria) raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Impressive Streak of Gains for New Highs - 6/7/2023 |
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C
A
S
I |
FIX
-
NYSE
Comfort Systems USA
Bldg-A/C and Heating Prds
|
$166.30
|
+5.37
3.34% |
$166.62
|
253,092
91.04% of 50 DAV
50 DAV is 278,000
|
$165.05
0.76%
|
4/27/2023
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$148.85
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PP = $152.23
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MB = $159.84
|
Most Recent Note - 6/27/2023 5:37:17 PM
G - Volume totals have been cooling while hovering near its all-time high. Extended from the prior base and no resistance remains due to overhead supply. Prior highs in the $152-156 area define initial support to watch above its 50 DMA line ($150.54).
>>> FEATURED STOCK ARTICLE : "Negative Reversal" Following Recent Volume-Driven Gains - 6/16/2023 |
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C
A
S
I |
KOF
-
NYSE
Coca-Cola Femsa ADR
Beverages-Non-Alcoholic
|
$83.29
|
-0.66
-0.79% |
$84.31
|
177,636
101.51% of 50 DAV
50 DAV is 175,000
|
$91.23
-8.70%
|
6/9/2023
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$88.61
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PP = $91.33
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MB = $95.90
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Most Recent Note - 6/27/2023 12:30:58 PM
G - Further undercutting its 50 DMA line ($86.36) with today's 4th consecutive loss raising greater concerns. A prompt rebound above the 50 DMA line is needed to help its outlook improve. The prior low ($81.63 on 5/31/23) defines the next important near-term support to watch. 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 : Coca-Cola Femsa Posts 7th Consecutive Gain - 6/9/2023 |
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C
A
S
I |
CLH
-
NYSE
Clean Harbors
Pollution Control
|
$162.04
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+2.02
1.26% |
$162.89
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387,078
98.49% of 50 DAV
50 DAV is 393,000
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$160.50
0.96%
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3/10/2023
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$136.89
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PP = $136.74
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MB = $143.58
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Most Recent Note - 6/27/2023 5:36:07 PM
G - Volume totals have cooled while hovering near its all-time high, extended from any sound base. Its 50 DMA line ($146.56) and prior high define important near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base and Hovering Near High - 6/15/2023 |
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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 |
SPSC
-
NASDAQ
SPS Commerce
Comp Sftwr-Spec Enterprs
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$189.27
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+0.77
0.41% |
$190.94
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198,672
110.99% of 50 DAV
50 DAV is 179,000
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$189.20
0.04%
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4/24/2023
|
$150.01
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PP = $157.56
|
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MB = $165.44
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Most Recent Note - 6/28/2023 5:13:52 PM
G - Volume was +46% above average behind today's gain while hitting another new 52-week high, getting very extended from the previously noted base. Reported Mar '23 quarterly earnings +22% on +20% versus the year-ago period, below the +25% minimum earnings guideline (C criteria) raising some fundamental concerns.
>>> FEATURED STOCK ARTICLE : Perched Near High Following Noted Volume-Driven Gains - 6/21/2023 |
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C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$327.21
|
+5.39
1.67% |
$327.59
|
324,906
75.21% of 50 DAV
50 DAV is 432,000
|
$326.62
0.18%
|
4/25/2023
|
$262.85
|
PP = $257.51
|
|
MB = $270.39
|
Most Recent Note - 6/28/2023 5:10:08 PM
G - Churning above-average volume while recently hovering near its all-time high, very extended from the prior base. Its 50 DMA line ($284) defines initial support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hubbell on Track for 11th Weekly Gain - 6/22/2023 |
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C
A
S
I |
NVR
-
NYSE
NVR
Bldg-Resident/Comml
|
$6,295.61
|
-17.30
-0.27% |
$6,332.04
|
22,129
85.11% of 50 DAV
50 DAV is 26,000
|
$6,386.62
-1.43%
|
4/25/2023
|
$5,882.18
|
PP = $5,978.25
|
|
MB = $6,277.16
|
Most Recent Note - 6/26/2023 6:32:01 PM
G - There was a "negative reversal" today after hitting another new all-time high. Its 50 DMA line ($5,824) defines near-term support watch on pullbacks. Reported Mar '23 quarterly earnings -14% on -3% sales revenues versus the year-ago period, below the +25% minimum earnings guideline (C criteria) raising fundamental concerns, and its color code was changed to green.
>>> FEATURED STOCK ARTICLE : Rebounded Above 50 Day Average With Light Volume Gains - 6/6/2023 |
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C
A
S
I |
PHM
-
NYSE
PulteGroup
Bldg-Resident/Comml
|
$77.32
|
-0.40
-0.51% |
$77.69
|
1,835,392
59.84% of 50 DAV
50 DAV is 3,067,000
|
$79.15
-2.31%
|
4/25/2023
|
$65.17
|
PP = $64.01
|
|
MB = $67.21
|
Most Recent Note - 6/26/2023 6:27:37 PM
G - There was a "negative reversal" today after hitting yet another new high . Very extended from any sound base. Reported earnings +28% for the Mar '23 quarter versus the year-ago period. Important support to watch is defined by its 50 DMA line ($68.40). See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Negative Reversal After Hitting Another New High - 6/26/2023 |
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C
A
S
I |
COKE
-
NASDAQ
Coca-Cola Consolidated
Beverages-Non-Alcoholic
|
$639.37
|
-6.96
-1.08% |
$651.69
|
22,734
56.84% of 50 DAV
50 DAV is 40,000
|
$694.20
-7.90%
|
5/4/2023
|
$646.66
|
PP = $656.21
|
|
MB = $689.02
|
Most Recent Note - 6/26/2023 6:35:42 PM
Y - Pulled back today with average volume. Important near-term support is its 50 DMA line ($630). Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Fell Below Pivot Point With Recent Volume-Driven Losses - 6/14/2023 |
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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 |
AMPH
-
NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech
|
$55.91
|
+0.29
0.52% |
$56.51
|
289,752
61.78% of 50 DAV
50 DAV is 469,000
|
$58.70
-4.75%
|
5/15/2023
|
$43.56
|
PP = $44.15
|
|
MB = $46.36
|
Most Recent Note - 6/26/2023 6:34:06 PM
G - Pulled back from its all-time high with today's 2nd consecutive volume-driven loss. Very extended from any sound base. Prior highs in the $44 area define important support to watch coinciding with its 50 DMA line. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hit Another New High With 4th Consecutive Volume-Driven Gain - 6/20/2023 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks
Computer-Networking
|
$159.29
|
+3.43
2.20% |
$159.96
|
2,255,978
61.09% of 50 DAV
50 DAV is 3,693,000
|
$178.36
-10.69%
|
5/30/2023
|
$176.35
|
PP = $171.54
|
|
MB = $180.12
|
Most Recent Note - 6/27/2023 5:32:56 PM
G - Rebounded above its 50 DMA line ($152.81) with below-average volume behind today's 2nd consecutive gain helping its outlook improve. Faces near-term resistance due to overhead supply up to the $178 level. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Rebounding Near Recent High With 3 Consecutive Gains - 6/12/2023 |
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C
A
S
I |
PANW
-
NASDAQ
Palo Alto Networks
Computer Sftwr-Security
|
$253.33
|
-0.08
-0.03% |
$254.89
|
2,594,680
42.38% of 50 DAV
50 DAV is 6,123,000
|
$255.42
-0.82%
|
6/5/2023
|
$228.35
|
PP = $213.73
|
|
MB = $224.42
|
Most Recent Note - 6/27/2023 5:29:16 PM
G - Hit another new all-time high with today's gain. Very extended from the prior high ($213) which defines initial support to watch on pullbacks. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Strength Continues for Network Security Leader - 6/27/2023 |
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C
A
S
I |
LSCC
-
NASDAQ
Lattice Semiconductor
Elec-Semicondctor Fablss
|
$93.07
|
+1.39
1.52% |
$93.83
|
1,609,939
64.09% of 50 DAV
50 DAV is 2,512,000
|
$96.82
-3.87%
|
6/13/2023
|
$91.73
|
PP = $96.92
|
|
MB = $101.77
|
Most Recent Note - 6/27/2023 5:43:34 PM
Y - Posted a solid gain today backed by light volume after recently testing its 50 DMA line ($84.54). More damaging losses would raise concerns. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Reported Mar '23 quarterly earnings +38% on +22% sales revenues versus the year-ago period, its 9th consecutive strong quarterly comparison above the +25% minimum earnings guideline (C criteria). Annual earnings history (A criteria) has been strong.
>>> FEATURED STOCK ARTICLE : Lattice Posts Volume-Driven Gains Approaching Prior High - 6/13/2023 |
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C
A
S
I |
XPEL
-
NASDAQ
XPEL
Auto/Truck-Replace Parts
|
$84.89
|
+1.89
2.28% |
$85.02
|
171,239
130.72% of 50 DAV
50 DAV is 131,000
|
$87.01
-2.44%
|
6/28/2023
|
$83.14
|
PP = $87.11
|
|
MB = $91.47
|
Most Recent Note - 6/28/2023 5:04:54 PM
Y - Color code was changed to yellow with pivot point cited based on its 8/15/23 high plus 10 cents when featured in the earlier mid-day report. Perched within striking distance of its 52-week high after an orderly 10-month base. Reported Mar '23 quarterly earnings +46% on +19% sales revenues versus the year ago period, its 3rd quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it better match the winning models of the fact-based investment system. Annual earnings growth remained strong while it went through a deep consolidation since dropped from the Featured Stocks list on 8/13/21. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : XPEL Returns to Featured Stocks List After Long Consolidation - 6/28/2023 |
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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.
This report is a service available
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You may opt-out of receiving report notifications
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