FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - MONDAY, MAY 9TH, 2022

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Indices				NYSE			Nasdaq
DOW	-653.67	32,245.70	-1.99%	Volume	1,236,858,560	+15%	Volume	5,867,661,100	+10%
NASDAQ	-521.41	11,623.25	-4.29%	Advancers	382	12%	Advancers	784	19%
S&P 500	-132.10	3,991.24	-3.20%	Decliners	2,730	88%	Decliners	3,372	81%
Russell 2000	-77.48	1,762.08	-4.21%	52 Wk Highs	12		52 Wk Highs	23
S&P 600	-34.34	1,174.41	-2.84%	52 Wk Lows	1,063		52 Wk Lows	1,710

TODAY'S SPECIAL NOTICE

The market remains in a correction (M criteria). Reducing market exposure and raising cash is prudent until a new confirmed rally is noted.

Major Averages Slump With Higher Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The S&P 500 retreated 3.2% to end below the 4,000 level for the first time since March 2021. The broad benchmark just came off its first five-week losing streak since June 2011. The Nasdaq Composite tumbled 4.3%, now more than 27% below its November 19 record high, while the Dow fell 653 points. Volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange, indicating an increase in institutional selling pressure termed "distribution". Breadth was negative as decliners clearly led advancers by more than a 7-1 margin on the NYSE and by more than a 4-1 margin on the Nasdaq exchange. There were 7 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 12 on the prior session. New 52-week lows totals expanded and solidly outnumbered new 52-week highs on both the NYSE and the Nasdaq exchange. The major indices are still in a market correction (M criteria). Followers of the fact-based investment system know to watch for a follow-through day on Day 4-7 of a new rally attempt which could signal a new confirmed uptrend.

Chart courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index slumped to a new 2022 low.

U.S. stocks finished firmly lower on Monday as a confluence of headwinds continued to pressure risk appetite. Treasuries rallied amid the perceived risk off mood, recouping some of last week’s losses. The yield on the 10-year note eased 10 basis points (0.10%) to 3.03% but has still climbed 1.52% this year to a peak not seen since late 2018.

Ten of 11 S&P 500 sectors closed in negative territory. Energy shares weathered their worst session of the year amid a slide in oil prices. West Texas Intermediate crude shed 6.7% to $102.37/barrel as ongoing pandemic-related lockdowns in China dampened demand prospects. The more traditionally defensive Consumer Staples group bucked the downtrend to end just above the flat line.

Investors continued to assess the implications of the Federal Reserve’s (Fed) path of monetary policy tightening. Last week, officials raised their benchmark interest rate by 0.50% for the first time since 2000 and signaled additional increases of similar magnitude in the coming months to combat elevated inflation. A solid monthly jobs report from the Labor Department on Friday reinforced the Fed’s plans. Meanwhile, China’s zero-COVID policy and the ongoing Russia-Ukraine war have only exacerbated worries of supply chain issues and inflationary pressures. A key update on the Consumer Price Index (CPI) on Wednesday will be closely monitored.

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.

Commodity-Linked Groups, Tech, Retail, and Financial Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Energy-linked groups were standout decliners as the Oil Services Index ($OSX -10.84%) and Integrated Oil Index ($XOI -8.17%) both slumped. The Gold & Silver Index ($XAU -6.18%) also suffered a big loss. The tech sector saw unanimous losses from the Biotech Index ($BTK -5.89%), Semiconductor Index ($SOX -5.13%), and the Networking Index ($NWX -4.12%). The Broker/Dealer Index ($XBD -3.01%), Bank Index ($BKX -1.90%), and Retail Index ($RLX -2.65%) rounded out the widely negative session with unanimous losses.

Chart courtesy of www.stockcharts.com

PICTURED: The Integrated Oil Index ($XOI -8.17%) abruptly fell near its 50-day moving average line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	69.46	-8.45	-10.84%	+31.76%
Integrated Oil	$XOI	1,571.82	-139.80	-8.17%	+33.41%
Semiconductor	$SOX	2,829.10	-152.96	-5.13%	-28.31%
Networking	$NWX	731.57	-31.42	-4.12%	-24.66%
Broker/Dealer	$XBD	393.05	-12.18	-3.01%	-19.27%
Retail	$RLX	3,039.53	-82.59	-2.65%	-28.08%
Gold & Silver	$XAU	129.96	-8.56	-6.18%	-1.88%
Bank	$BKX	110.36	-2.14	-1.90%	-16.53%
Biotech	$BTK	4,266.02	-267.13	-5.89%	-22.70%

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	$261.41	-5.49 -2.06%	$268.47	2,227,270 144.72% of 50 DAV 50 DAV is 1,539,000	$272.81 -4.18%	5/6/2022	$263.52	PP = $269.97
								MB = $283.47
Most Recent Note - 5/9/2022 5:13:01 PM Y - Churned above average volume as it pulled back today from within striking distance of its all-time high. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Reported a strong +27% earnings increase on +7% sales revenues for the Mar '22 quarter versus the year ago period, its 3rd strong quarterly comparison above the +25% minimum guideline (C criteria). Annual earnings growth (A criteria) has been strong. >>> FEATURED STOCK ARTICLE : Cigna Rises Near All-Time High - 5/6/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
IMKTA - NASDAQ Ingles Markets Inc Cl A RETAIL - Grocery Stores	$94.65	+0.52 0.55%	$96.10	149,455 126.66% of 50 DAV 50 DAV is 118,000	$101.98 -7.19%	4/11/2022	$96.25	PP = $95.75
								MB = $100.54
Most Recent Note - 5/9/2022 5:14:04 PM Y - Posted a small gain today with higher volume after recently testing its 50 DMA line ($92.21). Reported Mar '22 quarterly earnings +40% on +16% sales revenues versus the year ago period. Volume and volatility often increase near earnings news. >>> FEATURED STOCK ARTICLE : Ingles Markets Perched Near High With Earnings News Due - 5/4/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
WCC - NYSE Wesco International Inc WHOLESALE - Electronics Wholesale	$130.84	-9.41 -6.71%	$140.16	777,202 171.57% of 50 DAV 50 DAV is 453,000	$144.43 -9.41%	4/21/2022	$135.54	PP = $139.10
								MB = $146.06
Most Recent Note - 5/9/2022 5:19:18 PM Y - Pulled back today for a damaging volume-driven loss. Gains and a strong close above the pivot point last week helped clinch a convincing technical buy signal, however, members were cautioned - "New buying efforts may only be considered after a solid follow-through day confirms a new market uptrend (M criteria)." Rebounded well above its 50 and 200 DMA lines. Bullish action came after it reported Mar '22 quarterly earnings +154% on +22% sales revenues versus the year ago period. Volume and volatility often increase near earnings news. >>> FEATURED STOCK ARTICLE : Approaching Prior Highs Where it Met Resistance - 4/21/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
SMPL - NASDAQ Simply Good Foods Co Food-Confectionery	$37.04	-1.28 -3.34%	$38.23	827,509 120.63% of 50 DAV 50 DAV is 686,000	$45.77 -19.07%	4/13/2022	$41.79	PP = $43.27
								MB = $45.43
Most Recent Note - 5/9/2022 5:17:03 PM G - Color code is changed to green after today's big loss violated its 200 DMA line ($37.68) raising greater concerns and triggering a more worrisome technical sell signal. Only a prompt rebound above the 50 DMA line ($39.40) would help its outlook improve. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Slump Below 50-Day Moving Average - 5/5/2022 \| 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	$19.91	-0.39 -1.92%	$20.29	395,090 94.52% of 50 DAV 50 DAV is 418,000	$22.86 -12.90%	3/8/2022	$18.64	PP = $19.06
								MB = $20.01
Most Recent Note - 5/9/2022 5:15:20 PM G - Pulled back today for a 3rd consecutive loss. Spiked briefly above its "max buy" level with a volume-driven gain after it reported Mar '22 quarterly earnings +26% on +21% sales revenues versus the year ago period. Recently consolidating near its 50 DMA line ($19.76) which defines important near term support to watch. More damaging losses would raise concerns and trigger a technical sell signal. >>> 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
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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