FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - FRIDAY, MAY 27TH, 2022

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Indices				NYSE			Nasdaq
DOW	+575.77	33,212.96	+1.76%	Volume	923,267,829	-9%	Volume	4,752,217,900	+2%
NASDAQ	+390.48	12,131.13	+3.33%	Advancers	2,719	86%	Advancers	3,484	79%
S&P 500	+100.40	4,158.24	+2.47%	Decliners	454	14%	Decliners	902	21%
Russell 2000	+49.66	1,887.90	+2.70%	52 Wk Highs	88		52 Wk Highs	50
S&P 600	+28.24	1,248.94	+2.31%	52 Wk Lows	36		52 Wk Lows	113

TODAY'S SPECIAL NOTICE

The recent gains may seem encouraging, however, the market remains in a correction (M criteria). New buying efforts should be avoided until a solid follow-through day shows more decisive strength returning. Lower volume on the NYSE than on prior sessions suggested that both Thursday and Friday's solid gains for the Dow Jones Industrial Average and the S&P 500 Index were not the result of increasing institutional buying demand. Meanwhile, the Nasdaq Composite's big gains with higher volume marked only Day 3 for the new rally attempt since its low close that occurred on 5/22/22. Arguably, the rally still needs confirmation, and an opportunity for a valid follow-through day remains open unless the recent lows or May 20th lows are violated.

Major Averages Hammered Out Solid Weekly Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow added 575 points, bringing its five-session advance to 6.2%, while the S&P 500 climbed 2.5%, capping a weekly gain of 6.6%. Their best weekly performance since November 2020 lifted the two benchmarks into positive month-to-date territory. The Dow finally snapped an eight-week losing streak, its worst run since 1923, while the S&P 500 ended a seven-week downturn that had been its longest declining stretch since 2001. The Nasdaq Composite’s 3.3% rally lifted the tech-heavy index 6.8% higher on the week. Volume totals reported were mixed, again lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Breadth was clearly positive as advancers led decliners by almost a 6-1 margin on the NYSE and almost a 4-1 margin on the Nasdaq exchange. There were 46 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, matching the total on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE while new lows still outnumbered new 52-week highs on the Nasdaq exchange. The major indices have been in a noted market correction (M criteria). Sources at the newspaper, following Thursday's session, are relabelling it a "confirmed uptrend" despite flaws noted in our further market commentary. Followers of the fact-based investment system know to watch for a follow-through day backed by higher volume on Day 4-7 of a new rally attempt which could signal a new confirmed uptrend.

Chart courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average has seen volume totals cooling during a streak of 6 consecutive gains after a "positive reversal" at its 2022 low.

Lower volume on the NYSE than on prior sessions suggested that both Thursday and Friday's solid gains for the Dow Jones Industrial Average and the S&P 500 Index were not the result of increasing institutional buying demand. Meanwhile, the Nasdaq Composite's big gains with higher volume marked only Day 3 for the new rally attempt since its low close that occurred on 5/22/22. Arguably, the rally still needs confirmation, and an opportunity for a valid follow-through day remains open unless the recent lows or May 20th lows are violated.

U.S. stocks finished broadly higher on Friday as a relief rally continued. Recent strength in Treasuries persisted, with the yield on the 10-year note down one basis point (0.01%) to 2.74%, positioned for a monthly drop of 18 basis points (0.18%). In FOREX trading, a gauge of the U.S. dollar extended recent weakness, suffering its sharpest weekly decline in nearly four months (-1.2%).

On the data front, the core PCE deflator (the Federal Reserve’s preferred proxy for inflation) rose 4.9% year-over-year in April, easing from the previous month’s 5.2% annual gain. Separately, personal spending climbed 0.9% in April, while real personal spending (adjusted for price changes) increased 0.7%, the strongest print in three months. Rounding out the docket, a final May reading from the University of Michigan indicated consumer sentiment fell to a fresh decade-low.

All 11 S&P 500 sectors closed in positive territory, with Consumer Discretionary and Technology shares pacing gains. Ulta Beauty Inc. (ULTA +11.6%) rose following upbeat results that included a boost to its full-year guidance, while Dell Technologies Inc. (DELL +12.9%) rose after topping consensus profit and revenue estimates.

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, Financial, and Energy-Linked Groups Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The tech sector had a positive bias as the Semiconductor Index ($SOX +4.03%), Biotech Index ($BTK +3.66%), and Networking Index ($NWX +3.53%) each posted a gain of greater than +3%. The Retail Index ($RLX +2.90%) also had a positive influence on the major averages along with the Broker/Dealer Index ($XBD +2.54%) and Bank Index ($BKX +1.27%). The Oil Services Index ($OSX +2.03%) and Integrated Oil Index ($XOI +1.95%) posted solid gains while the Gold & Silver Index ($XAU +0.62%) also edged higher.

Chart courtesy of www.stockcharts.com

PICTURED: The Broker/Dealer Index ($XBD +2.54%) is still well below its 50-day and 200-day moving average lines, rebounding from the recent low.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	83.18	+1.65	+2.03%	+57.77%
Integrated Oil	$XOI	1,805.93	+34.61	+1.95%	+53.28%
Semiconductor	$SOX	3,115.35	+120.74	+4.03%	-21.05%
Networking	$NWX	761.07	+25.94	+3.53%	-21.63%
Broker/Dealer	$XBD	423.28	+10.48	+2.54%	-13.06%
Retail	$RLX	3,119.07	+87.78	+2.90%	-26.20%
Gold & Silver	$XAU	132.09	+0.81	+0.62%	-0.27%
Bank	$BKX	116.28	+1.46	+1.27%	-12.06%
Biotech	$BTK	4,730.96	+166.83	+3.66%	-14.27%

Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

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
CI - NYSE Cigna Corp Medical-Managed Care	$272.40	+3.52 1.31%	$272.97	1,199,381 80.66% of 50 DAV 50 DAV is 1,487,000	$271.71 0.25%	5/6/2022	$263.52	PP = $269.97
								MB = $283.47
Most Recent Note - 5/27/2022 5:59:13 PM Y - Posted a 6th consecutive small gain today with lighter and below average volume, consolidating above its 50 DMA line ($254.64) and challenging its all-time high. 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 : Consolidating Above 50-Day Moving Average Near All-Time High - 5/25/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
PAG - NYSE Penske Automotive Grp Retail/Whlsle-Automobile	$116.60	+1.40 1.22%	$116.80	353,122 103.25% of 50 DAV 50 DAV is 342,000	$119.47 -2.40%	5/13/2022	$114.88	PP = $114.57
								MB = $120.30
Most Recent Note - 5/27/2022 6:04:28 PM Y - Posted a 5th consecutive gain with near average volume, rebounding further above the previously cited pivot point following a recent pullback. Its 50 DMA line ($103.35) defines near term support to watch. >>> FEATURED STOCK ARTICLE : Breakout With Volume-Driven Gain to New High - 5/13/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
LLY - NYSE Eli Lilly & Co Medical-Diversified	$323.48	+10.02 3.20%	$324.08	3,677,588 124.79% of 50 DAV 50 DAV is 2,947,000	$314.00 3.02%	5/16/2022	$302.46	PP = $314.10
								MB = $329.81
Most Recent Note - 5/27/2022 6:02:11 PM Y - Hit a new 52-week high with today's 6th consecutive gain backed by +25% above average volume. Its 50 DMA line ($294) recently acted as support. Pivot point cited was based on its 4/07/22 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a convincing technical buy signal. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Eli Lilly & Co Challenges All-Time High - 5/16/2022 \| 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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