FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - FRIDAY, JULY 22ND, 2022

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Indices				NYSE			Nasdaq
DOW	-137.61	31,899.29	-0.43%	Volume	826,327,337	-7%	Volume	4,684,496,700	+2%
NASDAQ	-225.50	11,834.11	-1.87%	Advancers	1,288	41%	Advancers	1,292	30%
S&P 500	-37.32	3,961.63	-0.93%	Decliners	1,853	59%	Decliners	3,037	70%
Russell 2000	-29.81	1,806.88	-1.62%	52 Wk Highs	16		52 Wk Highs	43
S&P 600	-11.29	1,185.22	-0.94%	52 Wk Lows	45		52 Wk Lows	97

Major Indices Pulled Back With Leadership Waning
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow fell 137 points, while the S&P 500 slid 0.9% on the heels of its best three-day stretch of gains since late May. Despite the declines, both benchmarks posted their best weekly performance in a month. The 30-stock index climbed 2% this week, while the broad benchmark rose 2.6%. Meanwhile, the tech-heavy Nasdaq Composite lost 1.9%, trimming its weekly advance to 3.3%. The volume totals reported were mixed, lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Breadth was negative as decliners led advancers by a 3-2 margin on the NYSE and by more than 2-1 on the Nasdaq exchange. There were 7 high-ranked companies from the Leaders List that hit new 52-week high and were listed on the BreakOuts Page, versus the total of 10 on the prior session. New 52-week lows totals expanded and outnumbered new 52-week highs totals on the NYSE and on the Nasdaq exchange. The market uptrend is under pressure (M criteria). Any sustainable rally requires a healthy crop of leading stocks hitting new highs, but leadership has been very thin.

Chart courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average pulled back on Friday. It has been making progress after rebounding above its 50-day moving average (DMA) line. It remains well below its 200 DMA line.

U.S. equities fell on Friday as disappointing economic data and corporate earnings inspired a perceived risk-off mood on Wall Street. Eight of 11 S&P 500 sectors finished in negative territory, with defensive groups bucking the downtrend. Communication Services underperformed as a disappointing profit tally from Snap Inc. (SNAP -39.14%) weighed on social media companies. Shares tumbled after revenue figures came in below expectations amid a drop in advertising budgets. The news raised concerns about the outlook of online marketing, sending Facebook parent Meta Platforms Inc. (META -7.59%) lower. Meanwhile, Verizon Communication Inc. (VZ -6.74%) after cutting its full-year outlook.

On the data front, a flash reading from S&P Global showed overall U.S. business activity contracted for the first time since 2020. The composite Purchasing Managers’ Index (PMI) declined to 47.5 from June’s 52.3 print, unexpectedly falling below the 50 mark that separates growth in activity from contraction. The manufacturing PMI decreased to 52.3, while services PMI fell to a lower-than-expected 47.0. Treasuries extended their advance as the updates fueled recessionary concerns. The yield on the 10-year note sank 14 basis points (0.14%) to 2.76%, while the two-year note yield shed 0.12% to 2.98%.

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 Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Weakness in financials weighed on the major averages on Friday as the Bank Index ($BKX -1.52%) and Biotech Index ($BTK -1.94%) both lost ground. The tech sector saw unanimous losses from the Semiconductor Index ($SOX -2.55%), Networking Index ($NWX -1.46%), and the Broker/Dealer Index ($XBD -0.70%).Commodity-linked groups also had a negative bias as the Gold & Silver Index ($XAU -1.28%), Oil Services Index ($OSX -0.71%), and Integrated Oil Index ($XOI -1.12%) each lost ground. The Retail Index ($RLX -0.81%) also edged lower, rounding out a solidly negative session.

Chart courtesy of www.stockcharts.com

PICTURED: The Semiconductor Index ($SOX -2.55%) recently rebounded above its 50-day moving average (DMA) line but it is still well below its 200 DMA line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	60.53	-0.44	-0.71%	+14.81%
Integrated Oil	$XOI	1,452.11	-16.48	-1.12%	+23.25%
Semiconductor	$SOX	2,842.41	-74.40	-2.55%	-27.97%
Networking	$NWX	726.80	-10.73	-1.46%	-25.16%
Broker/Dealer	$XBD	413.42	-2.92	-0.70%	-15.08%
Retail	$RLX	3,207.63	-26.26	-0.81%	-24.11%
Gold & Silver	$XAU	103.06	-1.33	-1.28%	-22.19%
Bank	$BKX	106.17	-1.64	-1.52%	-19.70%
Biotech	$BTK	4,715.43	-93.15	-1.94%	-14.55%

Hovering Near "Max Buy" Level With Volume Totals Cooling
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Eli Lilly & Co (LLY +$1.83 or +0.56% to $328.75) posted a 2nd consecutive quiet gain today. It has been hovering near its "max buy" level and all-time high with light volume totals in recent weeks. Its 50-day moving average (DMA) line ($311) defines near-term support to watch.

LLY was highlighted in yellow with pivot point cited based on its 4/07/22 high plus 10 cents in the 5/16/22 mid-day report (read here). This giant Medical - Diversified firm showed impressive resilience and strength after slumping below its 50 DMA line since last covered in greater detail on 7/08/22 with an annotated graph under the headline, "Lilly Quietly Wedged to a New All-Time High This Week".

Keep in mind that it is due to report Jun '22 quarterly results on 8/04/22. Volume and volatility often increase near earnings news. Fundamentals have been strong. LLY has a 93 Earnings Per Share Rating, well above the 80+ minimum for buy candidates. It reported Mar '22 quarterly earnings +63% on +15% 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 (A criteria) improved steadily since a downturn in FY '14.

The number of top-rated funds owning its shares rose from 3,055 in Dec '20 to 3,738 in Jun '22, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A and a Sponsorship Rating of B. There are 950.2 million shares outstanding, making it an unlikely sprinter, while it is also well-recognized already by the institutional crowd.

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
LLY - NYSE Eli Lilly & Co Medical-Diversified	$328.75	+1.83 0.56%	$329.22	1,820,048 62.12% of 50 DAV 50 DAV is 2,930,000	$335.33 -1.96%	5/16/2022	$302.46	PP = $314.10
								MB = $329.81
Most Recent Note - 7/21/2022 5:09:01 PM Y - Posted a quiet gain today. Hovering near its all-time high with light volume totals in recent weeks. Its 50 DMA line ($310) defines near-term support to watch. >>> FEATURED STOCK ARTICLE : Hovering Near "Max Buy" Level With Volume Totals Cooling - 7/22/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
IMXI - NASDAQ International Money Exp Financial Svcs-Specialty	$23.14	+0.04 0.17%	$23.37	575,057 140.60% of 50 DAV 50 DAV is 409,000	$23.52 -1.62%	7/1/2022	$21.27	PP = $21.38
								MB = $22.45
Most Recent Note - 7/22/2022 4:45:02 PM Y - Posted a 6th consecutive gain today with +40% above average volume and it is perched at its 52-week high. Held its ground after it recently broke out of a "double bottom" base. Its 50 DMA line ($20.54) defines important near-term support to watch. Fundamentals through the Mar '22 quarter have been strong. >>> FEATURED STOCK ARTICLE : Stalled Since Clearing Double Bottom Base - 7/15/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
HRMY - NASDAQ Harmony Biosciences Hldg Medical-Biomed/Biotech	$51.02	-1.57 -2.99%	$53.19	298,934 62.80% of 50 DAV 50 DAV is 476,000	$57.13 -10.69%	7/6/2022	$54.12	PP = $52.85
								MB = $55.49
Most Recent Note - 7/22/2022 4:44:04 PM Y - Pulled back today for a 2nd consecutive loss with lighter than average volume. Showed resilience after undercutting recent lows in the $51.50 area. The 7/19/22 low ($50.18) now defines important near-term support to watch above its 50 DMA line ($46.83). >>> FEATURED STOCK ARTICLE : Harmony Has Been Encountering Distributional Pressure - 7/18/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CI - NYSE Cigna Corp Medical-Managed Care	$269.20	+2.85 1.07%	$269.22	1,779,970 91.56% of 50 DAV 50 DAV is 1,944,000	$282.33 -4.65%	7/7/2022	$276.55	PP = $273.68
								MB = $287.36
Most Recent Note - 7/22/2022 4:43:00 PM Y - Recently sputtering below prior highs in the $273 area and testing support at its 50 DMA line ($263.42) following a technical breakout. More damaging losses would raise greater concerns. >>> FEATURED STOCK ARTICLE : Pulled Back and Tested Support at 50-Day Moving Average - 7/19/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AN - NYSE Autonation Inc SPECIALTY RETAIL - Auto Dealerships	$117.07	+1.45 1.25%	$121.71	965,983 126.94% of 50 DAV 50 DAV is 761,000	$133.48 -12.29%	7/20/2022	$122.03	PP = $126.49
								MB = $132.81
Most Recent Note - 7/22/2022 12:34:00 PM Y - Posting a gain today following 2 consecutive volume-driven losses and its color code is changed to yellow after rebounding above its 50 DMA line ($116). Subsequent volume-driven gains above the pivot point may trigger a technical buy signal. Reported Jun '22 quarterly earnings +34% on -2% sales revenues versus the year ago period. Volume and volatility often increase near earnings news. Perched within striking distance of prior highs in the $126 area, and it faces some resistance due to overhead supply up to the $133 level. Reported Mar quarterly earnings +107% on +14% sales revenues versus the year ago period, its 7th very strong earnings comparison. Annual earnings growth has been strong. >>> FEATURED STOCK ARTICLE : Autonation Earnings Due While Perched Near Pivot Point - 7/20/2022 \| 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

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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