FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Tuesday, January 24th, 2023

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AFTER MARKET UPDATE - TUESDAY, JANUARY 24TH, 2023

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Indices				NYSE			Nasdaq
DOW	+104.40	33,733.96	+0.31%	Volume	606,312,297	-26%	Volume	5,664,536,700	-6%
NASDAQ	-30.14	11,334.27	-0.27%	Advancers	1,438	48%	Advancers	2,045	45%
S&P 500	-2.86	4,016.95	-0.07%	Decliners	1,542	52%	Decliners	2,484	55%
Russell 2000	-5.16	1,885.61	-0.27%	52 Wk Highs	97		52 Wk Highs	115
S&P 600	-4.81	1,232.07	-0.39%	52 Wk Lows	25		52 Wk Lows	35

Leadership Improved but Major Averages Ended Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow added 104 points, while the Nasdaq Composite fell 0.3%. The S&P 500 shed 0.1%, with six of 11 sectors ending in positive territory. Volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange. Breadth was slightly negative as decliners led advancers by a narrow margin on the NYSE and by about a 5-4 margin on the Nasdaq exchange. Leadership improved as there were 39 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus the total of 31 on the prior session. New 52-week highs totals outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Disciplined investors have a green light for making new buys only in stocks matching all key criteria of the fact-based investment system.

Chart courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index recently rose back above its 200-day moving average line and is perched within striking distance of prior highs.

U.S. equities finished mixed in choppy trading Tuesday as investors digested the latest batch of earnings and economic data. Market participants have been parsing through recent data to gain insights into the U.S. economy. Also in focus is next week’s Federal Reserve (Fed) meeting where the central bank is widely expected to downshift the pace of interest rate hikes.

On the data front today, S&P Global’s U.S. Manufacturing Purchasing Managers’ Index (PMI) came in at 46.8 in January versus the prior month’s 46.2 figure. Meanwhile the S&P Global Services PMI came in at 46.6. While both prints showed improvements from December, they remain in contractionary territory, signaling economic activity is continuing to slow. In corporate news, 3M Co (MMM -6.21%) reported disappointing fourth-quarter earnings results and said they will cut manufacturing jobs. General Electric Co (GE +1.17%) topped Wall Street estimates, citing demand for jet engines and power equipment as key drivers behind the stronger print. Elsewhere, Johnson & Johnson (JNJ) reported weak earnings and revenue amid falling demand for its COVID-19 vaccine.

Treasuries strengthened, with the yield on the benchmark 10-year note down six basis points (0.06%) to 3.46%, while the 30-year bond yield shed eight basis points (0.08%) to 3.61%. The two-year note yield, which is more sensitive to changes in monetary policy, fell two basis points (0.02%) to 4.21%. In commodities, West Texas Intermediate (WTI) crude declined 1.8% to $80.16/barrel amid renewed concerns over the global economic outlook.

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.

Bank, Retail, and Tech Indexes Lost Ground
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Bank Index ($BKX -0.62%) suffered a small loss while the Broker/Dealer Index ($XBD +0.09%) was little changed and the Retail Index ($RLX -0.27%) also inched lower. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +0.78%) was a standout gainer, meanwhile the Oil Services Index ($OSX -0.45%) and Integrated Oil Index ($XOI -0.20%) both edged lower. The Semiconductor Index ($SOX -0.72%) and Networking Index ($NWX -1.20%) led the tech sector lower while the Biotech Index ($BTK -0.05%) finished flat.

Chart courtesy of www.stockcharts.com

PICTURED: The Bank Index ($BKX -0.62%) is consolidating above its 50-day moving average (DMA) lines and has recently been rising near the prior high. Longtime members know that the financial indexes have served as reliable and very important leading indicators. Subsequent gains above the prior high would be a very reassuring sign for the broader market outlook.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	90.62	-0.41	-0.45%	+8.06%
Integrated Oil	$XOI	1,879.23	-3.72	-0.20%	+5.15%
Semiconductor	$SOX	2,913.74	-21.09	-0.72%	+15.07%
Networking	$NWX	813.49	-9.91	-1.20%	+3.85%
Broker/Dealer	$XBD	481.17	+0.44	+0.09%	+7.13%
Retail	$RLX	2,954.67	-7.95	-0.27%	+7.29%
Gold & Silver	$XAU	136.55	+1.05	+0.78%	+12.98%
Bank	$BKX	108.64	-0.67	-0.62%	+7.73%
Biotech	$BTK	5,551.91	-3.04	-0.05%	+5.13%

Perched Above "Max Buy" Level Near Recent Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Box Inc Cl A (BOX -$0.13 or -0.41% to $31.40) pulled back today for a small loss with light volume. Its color code was changed to green while trading above its "max buy" price. It has been challenging recent highs in the $31-32 area. Keep in mind it still faces some additional resistance due to overhead supply up to the $33 level. Its 50-day moving average (DMA) line ($29.68) defines important near-term support to watch on pullbacks.

BOX was highlighted in yellow with pivot point cited based on its 11/01/22 high plus 10 cents in the 12/12/22 mid-day report (read here). It was last shown in greater detail on 1/06/23 with an annotated graph under the headline, "Pulled Back After Perched Near All-Time High".

BOX reported Sep '22 quarterly earnings +41% on +12% sales revenues over the year ago period, above the +25% minimum earnings guideline (C criteria) for the 3rd consecutive quarterly comparison. Quarterly and annual earnings increases have been strong and steady. It has a 97 Earnings Per Share Rating.

There are 142.9 million shares outstanding. The number of top-rated funds owning its shares rose from 468 in Dec '21 to 576 in Dec '22, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days.

Chart courtesy of www.stockcharts.com

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
CMC - NYSE Commercial Metals Co METALS and MINING - Steel and Iron	$51.57	-0.30 -0.58%	$52.00	866,922 83.36% of 50 DAV 50 DAV is 1,040,000	$56.88 -9.34%	10/14/2022	$41.61	PP = $44.45
								MB = $46.67
Most Recent Note - 1/23/2023 6:38:38 PM G - Held its ground again today after pulling back from its 52-week high last week. Its 50 DMA line ($49.40) defines important near-term support to watch on pullbacks. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Pulling Back After Rallying From 50-Day Moving Average Line - 1/18/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
GPK - NYSE Graphic Packaging Hldg CONSUMER NON-DURABLES - Packaging and Containers	$22.92	+0.22 0.97%	$23.30	5,380,280 183.30% of 50 DAV 50 DAV is 2,935,200	$24.07 -4.78%	10/25/2022	$22.75	PP = $24.17
								MB = $25.38
Most Recent Note - 1/23/2023 6:45:11 PM Y - Showed resilience and it is consolidating above its 50 and 200 DMA lines. Losses back below them would raise concerns and trigger technical sell signals . Faces some resistance due to overhead supply up to the $24 level. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Found Support at 200-Day Moving Average and Still Faces Resistance - 1/10/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
GFF - NYSE Griffon Corporation MATERIALS and CONSTRUCTION - General Building Materials	$39.32	+0.57 1.47%	$39.87	322,959 65.78% of 50 DAV 50 DAV is 491,000	$40.74 -3.49%	11/10/2022	$34.13	PP = $35.02
								MB = $36.77
Most Recent Note - 1/23/2023 6:46:59 PM G - Showed resilience and volume totals have cooled following a "negative reversal" at its 52-week high on 1/18/23. Its 50 DMA line ($35.88) defines near-term support above recent lows in the $33.82 area. Reported Sep '22 quarterly earnings +230% on +24% sales revenues versus the year ago period. >>> FEATURED STOCK ARTICLE : Showed Resilience Following Negative Reversal at 52-Week High - 1/19/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CPRX - NASDAQ Catalyst Pharma Inc Medical-Biomed/Biotech	$16.12	+1.36 9.21%	$16.25	5,906,793 212.40% of 50 DAV 50 DAV is 2,781,000	$22.11 -27.09%	11/22/2022	$17.38	PP = $16.66
								MB = $17.49
Most Recent Note - 1/24/2023 5:49:09 PM G - Posted a solid volume-driven gain today. A prompt rebound above the 50 DMA line is needed for its outlook to improve. Abruptly retreated from its 52-week high with a gap down and considerable volume-driven loss on 1/23/23 violating its 50 DMA line ($17.64) triggering a technical sell signal. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Decisive Sell Signal Triggered by Considerable Loss on Heavy Volume - 1/23/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TITN - NASDAQ Titan Machinery Inc SPECIALTY RETAIL	$41.15	+0.26 0.64%	$41.31	160,329 66.80% of 50 DAV 50 DAV is 240,000	$44.35 -7.22%	1/13/2023	$40.10	PP = $44.45
								MB = $46.67
Most Recent Note - 1/24/2023 5:47:15 PM Y - Posted a 3rd consecutive gain today with lighter volume. The prior high in the $38 area defines important support to watch along with its 50 DMA line ($38.97)..A new pivot point was recently cited based on its 12/01/22 high plus 10 cents. >>> FEATURED STOCK ARTICLE : Forming New Base for Past 7 Weeks - 1/13/2023 \| 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
MYE - NYSE Myers Industries Inc Containers/Packaging	$23.34	-0.36 -1.52%	$23.96	86,773 52.27% of 50 DAV 50 DAV is 166,000	$25.55 -8.65%	12/8/2022	$23.94	PP = $25.65
								MB = $26.93
Most Recent Note - 1/24/2023 5:46:23 PM Y - Still sputtering following a noted "negative reversal" on 1/17/23. Its 50 DMA line ($22.93) defines near-term support to watch. Faces little resistance due to overhead supply up to the $25.50 level. >>> FEATURED STOCK ARTICLE : Myers Quietly Consolidating Within Striking Distance of Prior High - 1/20/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
BOX - NYSE Box Inc Cl A Computer Sftwr-Database	$31.40	-0.13 -0.41%	$31.66	661,147 49.30% of 50 DAV 50 DAV is 1,341,000	$33.04 -4.96%	12/12/2022	$29.83	PP = $29.57
								MB = $31.05
Most Recent Note - 1/24/2023 5:43:39 PM Y - Holding its ground and recently challenging prior highs in the $31-32 area. Its 50 DMA line ($29.68) defines important near-term support to watch. Faces very little resistance due to overhead supply up to the $32 level. Quarterly and annual earnings increases have been strong and steady. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Perched Above "Max Buy" Level Near Recent Highs - 1/24/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
STRL - NASDAQ Sterling Infrastructure MATERIALS and; CONSTRUCTION - Heavy Construction	$34.15	+1.43 4.37%	$34.56	671,191 316.60% of 50 DAV 50 DAV is 212,000	$34.86 -2.04%	12/14/2022	$32.41	PP = $33.72
								MB = $35.41
Most Recent Note - 1/24/2023 12:54:28 PM Y - Rising back above the previously cited pivot point and challenging its 52-week high with today's 3rd consecutive volume-driven gain. Rebounded back above its 50 DMA line ($32.12) after slumping below that important short-term average following its recently noted failed breakout attempt. Highlighted in yellow with pivot point cited based on its 11/08/22 high plus 10 cents in the 12/14/22 mid-day report. Confirming volume-driven gains for a new high would be a reassuring sign of fresh institutional buying demand. >>> FEATURED STOCK ARTICLE : Finding Support Near 50-Day Moving Average After Failed Breakout Attempt - 1/9/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I

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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