FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - MONDAY, JUNE 6TH, 2022

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Indices				NYSE			Nasdaq
DOW	+16.08	32,915.78	+0.05%	Volume	892,567,423	+13%	Volume	4,606,678,800	+12%
NASDAQ	+48.64	12,061.37	+0.40%	Advancers	1,734	55%	Advancers	2,262	49%
S&P 500	+12.89	4,121.43	+0.31%	Decliners	1,432	45%	Decliners	2,336	51%
Russell 2000	+6.83	1,889.89	+0.36%	52 Wk Highs	83		52 Wk Highs	66
S&P 600	+8.01	1,251.52	+0.64%	52 Wk Lows	54		52 Wk Lows	201

TODAY'S SPECIAL NOTICE

The market remains in a correction (M criteria), as arguably the rally still needs a solid confirmation. An opportunity for a valid follow-through day remains open unless the recent lows or May 20th lows are violated.

Major Indices Trimmed Early Gains Yet Still Closed Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The S&P 500 rose 0.3%, trimming an earlier advance of 1.5%. The Nasdaq Composite increased 0.4%. The Dow added 16 points, paring a gain of more than 300 points. Volume totals for Monday were reported higher than the prior session on the NYSE and on the Nasdaq exchange. Advancers led decliners by a 6-5 margin on the NYSE while decliners narrowly led advancers on the Nasdaq exchange. There were 33 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 31 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but 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 the Thursday 5/26/22 session, relabeled it a "confirmed uptrend" despite flaws noted in our ongoing market commentaries. Followers of the fact-based investment system know to watch for a follow-through day backed by higher volume which could signal a new confirmed uptrend.

Chart courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index was seen lighter volume totals while recently sputtering. The 3 major indexes cannot be said to be in "healthy" technical shape while all of them are sputtering well below both their 50-day and 200-day moving average (DMA) lines.

Regular readers of this commentary know to be watching closely for signs of truly increasing institutional buying demand. 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 higher on Monday in lackluster trading. The major averages consolidated from a downbeat week, as the latest monthly jobs report bolstered expectations that the Federal Reserve (Fed) would continue to aggressively tighten monetary policy in an effort to combat inflation. Investors monitored another back-up in Treasury yields. The benchmark 10-year note yield jumped 10 basis points (0.10%) to 3.04%, reclaiming the 3.00% level for the first time in nearly a month.

Still, risk appetite was supported by reopening efforts in China, with the world’s second largest economy lifting a broad range of COVID-19-related restrictions. Also buoying the mood were signs of easing regulation in the nation’s tech sector. DiDi Global Inc. (DIDI +24.32%) rose amid reports Chinese regulators would restore the ride-hailing giant’s app to mobile stores as they conclude their year-long investigation.

Eight of 11 S&P 500 sectors closed in positive territory. The Consumer Discretionary and Communication Services groups outperformed amid strength in Google parent Alphabet Inc. (GOOGL +1.99%) and Amazon.com Inc (AMZN +1.99%). Elsewhere, solar energy stocks were among the standouts as the Biden administration moved to halt tariffs on solar panel products from certain countries.

Market participants are awaiting Friday’s release of the Consumer Price Index (CPI), which could impact the pace of the Fed’s monetary policy tightening cycle. Fed officials are currently in their media blackout period ahead of next week’s June 14-15 Federal Open Market Committee (FOMC) meeting.

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.

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

A solid gain for the Retail Index ($RLX +1.21%) and modest gains for the Broker/Dealer Index ($XBD +0.61%) and the Bank Index ($BKX +0.39%) helped give the major averages a boost. The tech sector was mixed as the Biotech Index ($BTK -1.40%) slumped while the Semiconductor Index ($SOX +0.00%) finished flat and the inched higher. Commodity-linked groups were mixed as the Oil Services Index ($OSX +0.91%) and Integrated Oil Index ($XOI +0.31%) both edged higher while the Gold & Silver Index ($XAU -0.99%) fell.

Chart courtesy of www.stockcharts.com

PICTURED: The Networking Index ($NWX +0.36%) graph shows it still well below its 50-day and 200-day moving average (DMA) lines.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	85.57	+0.77	+0.91%	+62.32%
Integrated Oil	$XOI	1,845.39	+5.62	+0.31%	+56.63%
Semiconductor	$SOX	3,062.73	+0.15	+0.00%	-22.39%
Networking	$NWX	758.68	+2.74	+0.36%	-21.87%
Broker/Dealer	$XBD	416.11	+2.53	+0.61%	-14.53%
Retail	$RLX	3,220.82	+38.57	+1.21%	-23.79%
Gold & Silver	$XAU	132.26	-1.33	-0.99%	-0.14%
Bank	$BKX	114.77	+0.44	+0.39%	-13.19%
Biotech	$BTK	4,544.60	-64.57	-1.40%	-17.65%

Encountering Distributional Pressure After Reaching New Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Eli Lilly & Co (LLY +$1.71 or +0.57% to $303.36) is consolidating above its 50-day moving average (DMA) line ($297) which defines important near-term support to watch. It has encountered distributional pressure with volume-driven losses. Although it recently wedged above the pivot point cited based on its 4/07/22 high plus 10 cents, the gains above the pivot point lacked the minimum +40% above average volume necessary to clinch a convincing technical buy signal. Confirming gains for new highs with at least +40% above average volume would be a reassuring sign of fresh institutional buying demand.

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 was covered in greater detail that evening with an annotated graph under the headline, "Eli Lilly & Co Challenges All-Time High".

Fundamentals remain strong. LLY has a 92 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 3,538 in Mar '22, a reassuring sign concerning the I criteria. 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 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
CI - NYSE Cigna Corp Medical-Managed Care	$258.32	+4.35 1.71%	$259.74	1,612,717 106.52% of 50 DAV 50 DAV is 1,514,000	$273.58 -5.58%	5/6/2022	$263.52	PP = $269.97
								MB = $283.47
Most Recent Note - 6/6/2022 5:10:42 PM Y - Color code is changed to yellow after today's quiet gain and close back above its 50 DMA line ($256.64) helped its outlook to improve. More damaging losses would raise greater concerns. 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	$120.15	+2.95 2.52%	$121.18	406,009 116.00% of 50 DAV 50 DAV is 350,000	$119.47 0.57%	5/13/2022	$114.88	PP = $114.57
								MB = $120.30
Most Recent Note - 6/6/2022 5:15:04 PM Y - Posted a 4th consecutive gain today and hit a new all-time high with only +16% above average volume behind its gain. No overhead supply remains to act as resistance. Rebounded back above the previously cited pivot point following a recent pullback. Its 50 DMA line ($105.15) defines important near term support to watch. >>> FEATURED STOCK ARTICLE : Penske Perched at High With No Resistance Remaining - 6/2/2022 \| 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	$303.36	+1.71 0.57%	$315.13	3,676,662 124.09% of 50 DAV 50 DAV is 2,963,000	$324.08 -6.39%	5/16/2022	$302.46	PP = $314.10
								MB = $329.81
Most Recent Note - 6/6/2022 5:12:58 PM Y - Consolidating above its 50 DMA line ($297) which defines important near-term support to watch. 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 help clinch a convincing technical buy signal. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure After Reaching New Highs - 6/6/2022 \| 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	$135.74	-2.88 -2.08%	$139.72	555,618 116.48% of 50 DAV 50 DAV is 477,000	$144.43 -6.02%	6/1/2022	$128.79	PP = $139.10
								MB = $146.06
Most Recent Note - 6/6/2022 5:15:58 PM Y - Pulled back today following 3 consecutive gains with near average volume. Subsequent gains for a new high close backed by at least +40% above average volume may indicate fresh institutional buying demand. Fundamentals remain strong after it reported Mar '22 quarterly earnings +154% on +22% sales revenues versus the year ago period. >>> FEATURED STOCK ARTICLE : Big Volume-Driven Gain Helped Technical Stance Improve - 6/1/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
COKE - NASDAQ Coca-Cola Consolidated FOOD and BEVERAGE - Beverages - Soft Drinks	$635.77	+32.77 5.43%	$644.46	82,562 217.27% of 50 DAV 50 DAV is 38,000	$638.00 -0.35%	6/6/2022	$629.97	PP = $637.49
								MB = $669.36
Most Recent Note - 6/6/2022 5:12:04 PM Y - Finished strong today after highlighted in yellow with pivot point cited based on its 1/13/22 high plus 10 cents. Hit a new all-time high with its 4th consecutive volume-driven gain. A strong gain and close above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Reported earnings increases above the +25% minimum in the of the past 4 quarterly comparisons through Mar '22 quarters versus the year ago periods. Annual earnings (A criteria) growth has been strong after a downturn in FY '18 There are no Featured Stock Updates™ available for this stock at this time. You may request one by clicking the Request a New Note link below \| 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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