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AFTER MARKET UPDATE - THURSDAY, APRIL 14TH, 2022
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Indices NYSE Nasdaq
DOW  -113.36 34,451.23 -0.33% Volume 919,838,883 +16% Volume 4,622,763,500 -4%
NASDAQ -292.51 13,351.08 -2.14% Advancers 1,150 36% Advancers 1,502 34%
S&P 500 -54.00 4,392.59 -1.21% Decliners 2,046 64% Decliners 2,948 66%
Russell 2000 -20.12 2,004.98 -0.99% 52 Wk Highs 142   52 Wk Highs 96  
S&P 600 -8.73 1,284.28 -0.68% 52 Wk Lows 278   52 Wk Lows 296  

Breadth Negative as Major Indices Slump

The S&P 500 fell 1.2% to end 2.1% lower for the week, while the tech-heavy Nasdaq Composite dropped 2.1%, bringing its four-session slide to 2.6%. Both benchmarks weathered their second straight weekly drawdown. The Dow lost 113 points for its third consecutive weekly decline (-0.8%). Volume totals reported were mixed, higher than the prior session on the NYSE and lighter on the Nasdaq exchange. Breadth was negative as decliners led advancers by almost a 2-1 margin on the NYSE and on the Nasdaq exchange. There were 40 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 28 on the prior session.  New 52-week lows totals still outnumbered new 52-week highs on the NYSE and on the Nasdaq exchangeThe major indices are in an uptrend that has come under pressure (M criteria). Strict followers of the fact-based investment system only buy stocks fitting all key fundamental and technical investment criteria. 

Chart courtesy of www.stockcharts.com


PICTURED: The Nasdaq Composite Index has slumped back below its 50-day moving average (DMA) line since meeting resistance at its 200 DMA line. 

U.S. stocks finished lower on Thursday as investors digested a slew of earnings reports and economic data ahead of the long holiday weekend. Additionally, a monthly options expiration estimated to eclipse $2 trillion was cited as a factor increasing volatility. In earnings, shares of Morgan Stanley (MS +0.75%) and Citigroup Inc. (C +1.56%) each advanced on strength in their trading operations. In other corporate news, Tesla Inc. (TSLA -3.66%) CEO Elon Musk offered to take Twitter Inc. (TWTR -1.68%) private.

Meanwhile, a reprieve in the back-up in Treasury yields proved to be short-lived as remarks from a key Federal Reserve (Fed) leader reignited focus on the central bank’s plans for aggressive monetary policy tightening. New York Fed President John Williams stated that raising interest rates in 0.50% intervals was a “reasonable option.” The yield on the 10-year note spiked 14 basis points (0.14%) to 2.83%, the highest level since December 2018. Elsewhere, 30-year fixed mortgage rates surged to 5% for the first time since early 2011, according to Freddie Mac.

On the data front, retail sales rose a smaller-than-anticipated 0.5% in March, though February’s reading was upwardly revised. Separately, weekly initial jobless claims came in at 185,000, still low by historical standards and underscoring a tight labor market. Additionally, a preliminary reading of consumer sentiment from the University of Michigan unexpectedly rebounded in April from the lowest point since August 2011.

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.


Tech, Retail, and Financial Indexes Fell

The tech sector faced pressure as the Semiconductor Index ($SOX -2.92%), Networking Index ($NWX -1.87%), and Biotech Index ($BTK -0.81%) each ended lower. The Retail Index ($RLX -1.80%), Bank Index ($BKX -1.36%), and Broker/Dealer Index ($XBD -0.47%) also ended unanimously lower. The Oil Services Index ($OSX +1.72%) posted a solid gain while the Integrated Oil Index ($XOI -0.05%) and Gold & Silver Index ($XAU +0.08%) both finished flat.
Chart courtesy of www.stockcharts.com


PICTURED: The 5-year graph of the Integrated Oil Index ($XOI -0.05%) shows how it recently crept above its 2018 high, finally back to where it was 3 and a half years ago. The abrupt covid related slump of March 2020 came after years of sputtering, and the early recovery was choppy.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  85.45 +1.45 +1.72% +62.08%
Integrated Oil $XOI  1,626.81 -0.86 -0.05% +38.08%
Semiconductor $SOX  3,028.22 -91.10 -2.92% -23.26%
Networking $NWX  837.35 -15.95 -1.87% -13.77%
Broker/Dealer $XBD  444.47 -2.09 -0.47% -8.71%
Retail $RLX  3,706.67 -68.12 -1.80% -12.30%
Gold & Silver $XAU  167.76 +0.14 +0.08% +26.66%
Bank $BKX  116.73 -1.61 -1.36% -11.71%
Biotech $BTK  5,228.03 -42.43 -0.81% -5.26%


Simply Good Foods Had a Great Breakout

Simply Good Foods Co (SMPL +$1.38 or +3.28% to $43.47) posted a solid gain for a new high today with +96% above average volume triggering a technical buy signal. It was highlighted in yellow with new pivot point cited based on its 1/04/22 high plus 10 cents in Wednesday's mid-day report (read here). Following volume driven gains to a new 52-week high last week there was a "negative reversal" on Friday and then it held its ground. Its choppy consolidation was above and below the 50 and 200 DMA lines since dropped from the Featured Stocks list on 1/21/22 when last shown in this FSU section with an annotated graph included under the headline, "Violated 200 DMA Line With 4th Consecutive Loss".

SMPL reported Feb '22 quarterly earnings +44% on +29% sales revenues versus the year ago period, its 4th strong quarterly comparison well above the +25% minimum earnings guideline (C criteria). In 7 of the past 8 quarterly comparisons earnings were above the +25% minimum guideline (C criteria). Its annual earnings history (A criteria) has been strong. It currently has a 96 Earnings Per Share Rating.

Its current Relative Strength Rating is 92, above the 80+ minimum guideline for buy candidates. SMPL completed a new Pubic Offering on 10/09/19. The company has a Timeliness Rating of A and Sponsorship Rating of C. The number of top-rated funds owning its shares rose from 357 in Dec '20 to 446 in Mar '22. Its current Up/Down Volume Ratio of 1.0 is an unbiased indication its shares have been neutral concerning accumulation/distribution over the past 50 days.

It was first highlighted in yellow with pivot point cited based on its 9/09/19 high plus 10 cents in the 12/28/20 mid-day report (read here). Leadership has been provided by other companies in the Food/Beverage Sector, as the Food-Confectionery industry group has a Group Relative Strength Rating of 86 (A) is reassuring regarding the L criteria. There are only 5 companies listed in the group.

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
StockCharts.com Latest Chart for REGN REGN - NASDAQ
Regeneron Pharmaceutical
DRUGS - Biotechnology  
$733.02 +1.13
0.15%

$738.99

795,563
111.58% of 50 DAV
50 DAV is 713,000
$747.42
-1.93%
3/14/2022 $647.95 PP = $673.96
MB = $707.66
Most Recent Note - 4/14/2022 5:34:38 PM
G - Posted a gain with average volume for its second-best ever close. It has been repeatedly noted as extended from any sound base. Prior highs ($686 and $673) define initial support to watch above its 50 DMA line ($657).
>>> FEATURED STOCK ARTICLE : Volume Totals Have Been Light While Hovering at All-Time High - 4/4/2022
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for IMKTA IMKTA - NASDAQ
Ingles Markets Inc Cl A
RETAIL - Grocery Stores  
$95.10 +1.42
1.52%

$96.42

96,913
85.01% of 50 DAV
50 DAV is 114,000
$96.80
-1.76%
4/11/2022 $96.25 PP = $95.75
MB = $100.54
Most Recent Note - 4/14/2022 5:32:26 PM
Y - Posted a gain with light volume for a best-ever close. Highlighted in yellow with pivot point cited based on its 3/21/22 high after a cup-with-high-handle base pattern. Subsequent gains backed by at least +40% above average volume and a strong close above the pivot point may clinch a technical buy signal. Reported Dec '21 earnings +31% on +17% sales revenues versus the year ago period. Three of the past 4 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Annual earnings growth (A criteria) has been very strong in recent years.
>>> FEATURED STOCK ARTICLE : Closed Near Session Low and Below Pivot Point Cited - 4/11/2022
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for SMPL SMPL - NASDAQ
Simply Good Foods Co
Food-Confectionery  
$43.47 +1.38
3.28%

$43.85

1,162,292
196.67% of 50 DAV
50 DAV is 591,000
$43.50
-0.07%
4/13/2022 $41.79 PP = $43.27
MB = $45.43
Most Recent Note - 4/14/2022 5:52:44 PM
Y - Posted a solid gain for a new high today with +96% above average volume triggering a technical buy signal. Reported Feb '22 quarterly earnings +44% on +29% sales revenues versus the year ago period, its 4th strong quarterly comparison. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Simply Good Foods Had a Great Breakout - 4/14/2022
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for IMXI IMXI - NASDAQ
International Money Exp
Financial Svcs-Specialty  
$20.54 +0.40
1.99%

$20.68

358,380
99.00% of 50 DAV
50 DAV is 362,000
$21.98
-6.55%
3/8/2022 $18.64 PP = $19.06
MB = $20.01
Most Recent Note - 4/14/2022 5:33:29 PM
G - It has not formed a sound base of sufficient length. Prior highs in the high $18 area nearly coincide with its 50 DMA line ($18.37) defining important near term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Holding Ground After Rallying From Prior Base - 3/24/2022
 |  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.

This report is a service available only to active Paid Premium Members. You may opt-out of receiving report notifications at any time.  Questions or comments may be submitted by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307 or 954-785-1121.

Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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