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AFTER MARKET UPDATE - MONDAY, MARCH 14TH, 2022
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DOW |
+1.05 |
32,945.24 |
+0.00% |
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Volume |
1,191,845,691 |
+16% |
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Volume |
5,841,962,300 |
+12% |
NASDAQ |
-262.59 |
12,581.22 |
-2.04% |
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Advancers |
844 |
26% |
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Advancers |
1,166 |
26% |
S&P 500 |
-31.20 |
4,173.11 |
-0.74% |
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Decliners |
2,408 |
74% |
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Decliners |
3,250 |
74% |
Russell 2000 |
-37.95 |
1,941.72 |
-1.92% |
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52 Wk Highs |
32 |
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52 Wk Highs |
36 |
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S&P 600 |
-15.08 |
1,269.62 |
-1.17% |
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52 Wk Lows |
724 |
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52 Wk Lows |
921 |
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The major averages are in a continuing market correction (M criteria) and sputtering near lows for the year. Followers of the fact-based investment system know to patiently watch for a solid follow-through day to confirm a new uptrend before any new buying efforts may be justified.
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Breadth Negative as Major Indices Fell Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow added 1 point, while the S&P 500 fell 0.7%. The Nasdaq Composite tumbled 2%, sliding back into bear market territory (defined as a 20% drawdown from a recent peak) amid weakness in growth-related shares. Volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by almost a 3-1 margin on the NYSE and on the Nasdaq exchange. There were 16 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 25 on the prior session. New 52-week lows totals grew and outnumbered shrinking new 52-week highs totals on the NYSE and on the Nasdaq exchange. The market averages (M criteria) are in a "correction" and disciplined investors are reminded to reduce exposure and raise cash.
PICTURED: The S&P 500 Index slumped with higher volume and fell near last week's lowest close for the year, closing -13.4% off its record high hit on 1/04/22. It is well below its 50-day and 200-day moving average (DMA) lines which have converged, technically termed a "death cross".
U.S. stocks finished mostly lower on Monday as investors assessed a number of market-related headwinds. Apple Inc (AAPL -2.66%) fell as a spike in COVID-19 cases in China incited another wave of lockdowns, including the closure of one of the iPhone maker’s suppliers in Shenzhen. U.S.-listed Chinese stocks were also under pressure following reports that Russia asked China for military help in Ukraine, sparking concerns that sanctions against Chinese companies could ensue. Meanwhile, a fourth round of discussions between top Russian and Ukrainian officials resulted in no real progress toward a ceasefire.
Seven of 11 S&P 500 sectors closed in negative territory, with Energy shares leading the decline amid the pullback in oil prices. West Texas Intermediate crude fell 7.3% to $102.02/barrel, extending last week’s reprieve. Financials bucked the downtrend, tracking a back-up in Treasury yields, while COVID-19 vaccine makers also outperformed.
Treasuries slumped, with the yield on the 10-year note spiking 14 basis points (0.14%) to 2.14%, the highest level since June 2019. A rout in global bonds persisted as rising coronavirus infections in China stirred worries that further supply chain disruptions could exacerbate ongoing price pressures. All eyes will be on the Federal Reserve Wednesday, as policymakers are expected to increase interest rates for the first time since 2018 in order to combat the highest inflation in four decades.
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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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Tech, Retail, and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.73%) and Broker/Dealer Index ($XBD +0.35%) both posted gains on Monday while the Retail Index ($RLX -1.11%) fell. Commodity-linked groups were big decliners as the Gold & Silver Index ($XAU -4.37%), Oil Services Index ($OSX -5.22%), and Integrated Oil Index ($XOI -2.27%) each lost ground. The tech sector also saw unanimous losses from the Semiconductor Index ($SOX -3.07%), Networking Index ($NWX -2.20%), and Biotech Index ($BTK -2.70%). PICTURED: The Networking Index ($NWX -2.20%) slumped further below its 50-day and 200-day moving average lines to a new 2022 low. It is -17.95% below its December high.
Oil Services |
$OSX |
76.24 |
-4.20 |
-5.22% |
+44.60% |
Integrated Oil |
$XOI |
1,480.28 |
-34.40 |
-2.27% |
+25.64% |
Semiconductor |
$SOX |
3,047.50 |
-96.65 |
-3.07% |
-22.77% |
Networking |
$NWX |
809.68 |
-18.24 |
-2.20% |
-16.62% |
Broker/Dealer |
$XBD |
440.44 |
+1.52 |
+0.35% |
-9.54% |
Retail |
$RLX |
3,544.25 |
-39.76 |
-1.11% |
-16.14% |
Gold & Silver |
$XAU |
151.78 |
-6.94 |
-4.37% |
+14.60% |
Bank |
$BKX |
124.78 |
+2.12 |
+1.73% |
-5.63% |
Biotech |
$BTK |
4,677.66 |
-130.00 |
-2.70% |
-15.24% |
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Slumped Below 50-Day Moving Average Line Toward Prior Lows
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Textainer Group Holdings (TGH -$1.02 or -2.76% to $35.99) fell following a "negative reversal" on Friday and slumped further below its 50-day moving average (DMA) line ($37.29). It faces some resistance due to overhead supply up to the $41 level. Its 200 DMA line ($35) and prior lows define important near-term support to watch. Any violations would raise serious concerns and trigger technical sell signals.
Fundamentals remain strong. TGH has the highest possible Earnings Per Share Rating of 99. It reported Dec '21 quarterly earnings +80% on +23% sales revenues versus the year ago period, its 7th strong earnings comparison. Sales revenues growth has been improving and accelerating in recent quarterly comparisons, a strong match with regard to the fact-based investment system's fundamental guidelines. Annual earnings (A criteria) history has been strong after a downturn and loss in FY '16.
It hails from the Commercial Services - Leasing industry group which is currently ranked 72nd on the 197 Industry Groups list (L criteria). There are 49.3 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares has risen from 294 in Dec '20 to 341 in Dec '21, a reassuring sign concerning the I criteria. It has a Timeliness rating of B and an Accumulation/Distribution rating of C. |
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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 |
REGN
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NASDAQ
Regeneron Pharmaceutical
DRUGS - Biotechnology
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$656.41
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+13.83
2.15% |
$665.98
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1,018,158 139.09% of 50 DAV
50 DAV is 732,000
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$686.62 -4.40%
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3/14/2022
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$647.95
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PP = $673.96
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MB = $707.66
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Most Recent Note - 3/14/2022 6:20:14 PM
Y - Posted a 4th consecutive gain today with increasing volume, approaching its December highs. Color code is changed to yellow with new pivot point cited based on its 12/14/21 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal Recently found support above its 200 DMA line ($607.58). Prior lows in the $592-596 area define important near-term support. Disciplined investors know to avoid new buying efforts until a confirmed rally with follow through day from the major averages (M criteria) under the fact-based investment system's strict rules.
>>> FEATURED STOCK ARTICLE : Still Quietly Consolidating Above 200 DMA Line - 3/2/2022 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
TGH
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NYSE
Textainer Group Holdings
TRANSPORTATION - Logistics
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$35.99
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-1.02
-2.76% |
$37.50
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462,907 100.85% of 50 DAV
50 DAV is 459,000
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$41.89 -14.08%
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1/31/2022
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$36.68
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PP = $41.34
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MB = $43.41
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Most Recent Note - 3/14/2022 6:14:23 PM
G - Following a "negative reversal" on Friday it fell further below its 50 DMA line with average volume behind today's loss. Faces resistance due to overhead supply up to the $41 level. Important near-term support to watch is its 200 DMA line ($35) and prior lows. Any violations would raise serious concerns and trigger technical sell signals. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Slumped Below 50-Day Moving Average Line Toward Prior Lows - 3/14/2022 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HWKN
-
NASDAQ
Hawkins Inc
CHEMICALS - Basic Chemicals
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$46.33
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-0.02
-0.04% |
$47.00
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73,152 121.92% of 50 DAV
50 DAV is 60,000
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$47.13 -1.70%
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2/3/2022
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$39.81
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PP = $41.07
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MB = $43.12
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Most Recent Note - 3/14/2022 6:21:10 PM
G - Perched at its all-time high, extended from any sound base. Prior highs in the $40 area coincide with its 50 DMA line defining important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After 6th Consecutive Gain - 2/18/2022 |
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Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
IMXI
-
NASDAQ
International Money Exp
Financial Svcs-Specialty
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$18.00
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+0.02
0.11% |
$18.47
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644,457 266.30% of 50 DAV
50 DAV is 242,000
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$18.96 -5.06%
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3/8/2022
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$18.64
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PP = $19.06
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MB = $20.01
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Most Recent Note - 3/14/2022 12:34:35 PM
Y - On track today for a 4th volume-driven gain in the span of 6 sessions, perched within close striking distance of its all-time high. Highlighted in yellow in the 3/08/22 mid-day report with pivot point cited based on its 8/30/21 high plus 10 cents. Through Dec '21 its quarterly and annual earnings (C and A criteria) history has been strong. Small supply of only 32.2 million shares in the public float (S criteria) can contribute to greater price volatility in the event of institutional buying or selling. Disciplined investors know to avoid new buying efforts until a confirmed rally with follow through day from the major averages (M criteria) under the fact-based investment system's strict rules.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gains Challenged All-Time High - 3/8/2022 |
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Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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,
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are the property of their respective owners, and are
likewise used for identification purposes only.
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