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AFTER MARKET UPDATE - MONDAY, APRIL 18TH, 2022
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Indices NYSE Nasdaq
DOW  -39.54 34,411.69 -0.11% Volume 828,459,688 -10% Volume 4,250,443,000 -8%
NASDAQ -18.72 13,332.36 -0.14% Advancers 1,209 37% Advancers 1,550 33%
S&P 500 -0.90 4,391.69 -0.02% Decliners 2,049 63% Decliners 3,119 67%
Russell 2000 -14.85 1,990.13 -0.74% 52 Wk Highs 157   52 Wk Highs 93  
S&P 600 -4.73 1,279.55 -0.37% 52 Wk Lows 321   52 Wk Lows 512  

Breadth Negative as Major Averages Quietly Sputter

The S&P 500 ended just below the flat line, while the Nasdaq Composite dipped 0.1% following a downbeat holiday-shortened week during which the benchmarks fell 2.1% and 2.6%, respectively. The Dow lost 39 points on the heels of its third straight weekly drawdown (-0.8%). Volume totals reported were lighter than the prior session on the NYSE and 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 32 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 40 on the prior session.  New 52-week lows totals expanded and solidly 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 S&P 500 Index has slumped back below its 200-day and 50-day moving average (DMA) lines following an impressive March rebound.

U.S. stocks finished modestly lower in choppy trading on Monday as investors monitored rising Treasury yields and awaited a busy week of corporate earnings. Trading volume was light, roughly 20% below the 30-day average, with most European markets closed in observance of Easter.

Six of 11 S&P 500 sectors ended in negative territory with the more traditionally defensive Health Care and Consumer Staples losing the most. Financials bucked the downtrend, with Bank of America Corp. (BAC +3.41%) rose as strong trading revenue overshadowed a 13% year-over-year decline in earnings. However, Charles Schwab Corp. (SCHW -9.44%) weathered its worst session in over two years as weakness in its trading operations contributed to a disappointing profit tally. In other corporate news, Twitter Inc. (TWTR +7.48%) rose after its board of directors adopted a poison pill to stop Tesla Inc.’s (TSLA +1.96%) CEO Elon Musk from advancing his stake in the company beyond 15%.

Longer-dated Treasuries extended their rout as market participants braced for a more aggressive path of monetary policy tightening in light of persistent inflation. The yield on the 10-year note rose three basis points (0.03%) to 2.86%, its highest level since December 2018. On the data front, a measure of homebuilder sentiment eased to a seven-month low in April. In commodities, West Texas Intermediate crude climbed 0.8% to $107.84/barrel, while U.S. natural gas prices soared to a 13-year peak.

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.


Energy-Linked Groups and Semiconductor Index Rose

The Oil Services Index ($OSX +1.89%) and Integrated Oil Index ($XOI +1.73%) both posted solid gains while the Gold & Silver Index ($XAU +0.00%) finished flat.  The Semiconductor Index ($SOX +1.88%) posted solid gain while the Networking Index ($NWX -0.23%) edged lower and the Biotech Index ($BTK -3.56%) slumped for a larger loss. Financial indexes were mixed as the Bank Index ($BKX +0.91%) rose while the Broker/Dealer Index ($XBD -1.07%) lost ground.  The Retail Index ($RLX +0.15%) inched higher.
Chart courtesy of www.stockcharts.com


PICTURED: The Broker/Dealer Index ($XBD -1.07%) has recently been slumping near its March 2022 low.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  87.06 +1.61 +1.89% +65.14%
Integrated Oil $XOI  1,654.88 +28.07 +1.73% +40.46%
Semiconductor $SOX  3,085.19 +56.96 +1.88% -21.82%
Networking $NWX  835.46 -1.88 -0.23% -13.97%
Broker/Dealer $XBD  439.71 -4.76 -1.07% -9.68%
Retail $RLX  3,712.19 +5.52 +0.15% -12.17%
Gold & Silver $XAU  167.76 +0.01 +0.00% +26.66%
Bank $BKX  117.79 +1.06 +0.91% -10.91%
Biotech $BTK  5,041.92 -186.12 -3.56% -8.64%


Consolidating After Rally From Previously Noted Base

International Money Express (IMXI -$0.04 or -0.19% to $20.50has not formed a sound base of sufficient length. Prior highs in the high $18 area nearly coincide with its 50-day moving average (DMA) line ($18.47) defining important near term support to watch on pullbacks.

IMXI was highlighted in yellow in the 3/08/22 mid-day report (read here) with pivot point cited based on its 8/30/21 high plus 10 cents. It was last shown with detailed analysis on 3/24/22 with an annotated graph under the headline, "Holding Ground After Rallying From Prior Base". 

Through the Dec '21 quarter the Financial Services-Specialty firm's quarterly and annual earnings (C and A criteria) history has been strong and backed by solid sales revenues growth. The past 6 quarterly comparisons showed earnings increases above the year ago period by more than +25% (C criteria). Annual earnings growth has been strong and it has a 95 Earnings Per Share Rating.

There is a small supply of only 38.3 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 rose from 210 in Mar '21 to 255 in Mar '221, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 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
StockCharts.com Latest Chart for REGN REGN - NASDAQ
Regeneron Pharmaceutical
DRUGS - Biotechnology  
$723.20 -9.82
-1.34%

$732.00

311,005
43.87% of 50 DAV
50 DAV is 709,000
$747.42
-3.24%
3/14/2022 $647.95 PP = $673.96
MB = $707.66
Most Recent Note - 4/18/2022 4:41:31 PM
G - Pulled back today with light volume. 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 ($659).
>>> 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  
$95.53 +0.43
0.45%

$96.49

143,841
125.08% of 50 DAV
50 DAV is 115,000
$96.80
-1.31%
4/11/2022 $96.25 PP = $95.75
MB = $100.54
Most Recent Note - 4/18/2022 4:40:17 PM
Y - Posted a gain with +25% above average 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  
$43.14 -0.33
-0.76%

$43.50

811,085
134.51% of 50 DAV
50 DAV is 603,000
$43.85
-1.62%
4/13/2022 $41.79 PP = $43.27
MB = $45.43
Most Recent Note - 4/18/2022 4:42:48 PM
Y - Pulled back slightly today. Solid gain for a new high with +96% above average volume triggered a technical buy signal on the prior session. Reported Feb '22 quarterly earnings +44% on +29% sales revenues versus the year ago period, its 4th strong quarterly comparison.
>>> 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  
$20.50 -0.04
-0.19%

$21.10

224,737
61.24% of 50 DAV
50 DAV is 367,000
$21.98
-6.73%
3/8/2022 $18.64 PP = $19.06
MB = $20.01
Most Recent Note - 4/18/2022 5:01:20 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 ($18.47) defining important near term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating After Rally From Previously Noted Base - 4/18/2022
 |  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.

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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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