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AFTER MARKET UPDATE - THURSDAY, JANUARY 27TH, 2022
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Indices NYSE Nasdaq
DOW  -7.31 34,160.78 -0.02% Volume 1,075,602,623 -7% Volume 5,169,975,800 -10%
NASDAQ -189.34 13,352.78 -1.40% Advancers 904 28% Advancers 968 22%
S&P 500 -23.42 4,326.51 -0.54% Decliners 2,381 72% Decliners 3,507 78%
Russell 2000 -45.18 1,931.29 -2.29% 52 Wk Highs 36   52 Wk Highs 22  
S&P 600 -25.12 1,252.49 -1.97% 52 Wk Lows 429   52 Wk Lows 848  

TODAY'S SPECIAL NOTICE

Damaging losses for the major averages recently signaled a market correction (M criteria). Greater caution is advised until strength returns. Disciplined investors know to avoid new buying efforts and to raise cash by selling faltering stocks on a case-by-case basis. 


Major Averages Slumped Yet Again Erasing Early Gains

The Dow lost 7 points, wiping out an earlier advance of more than 600 points. The S&P 500 slipped 0.5%, erasing a morning rally of nearly 2%. The broad benchmark is now 9.8% below its January 3 record and poised for its worst month since March 2020 (-9.2% month-to-date). The Nasdaq Composite fell 1.4%, heading toward a fifth consecutive weekly decline, which would mark its longest losing streak since 2012. Volume totals reported were lighter than the prior session on the NYSE and on the Nasdaq exchange. Decliners led advancers by almost a 3-1 margin on the NYSE and more than 3-1 on the Nasdaq exchange. There were 10 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 swelled again and easily outnumbered shrinking new 52-week highs totals on the NYSE and on the Nasdaq exchange. The market averages (M criteria) have seen damaging losses noted that signaled a more serious market correction. Greater caution is suggested until noted strength returns.
Chart courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index suffered its 7th loss in the span of 8 sessions. It halted its slide after undercutting its September low and decisively violating its 200-day moving average (DMA) line. At Monday's low it was -12.4 off its January 4 record high. Friday marks Day 5 of the rally attempt - an important time for all disciplined investors now watching for a follow-through day to confirm a new uptrend.

U.S. stocks finished lower on Thursday, with the major averages once again giving up early session gains. Wall Street remained jittery about the Federal Reserve’s (Fed) pivot away from highly accommodative, pandemic-era monetary stimulus. Yesterday, officials set the stage for an interest rate hike in March, while Fed Chair Jerome Powell’s remarks were interpreted as more hawkish than expected.

In earnings, Tesla Inc. (TSLA -11.55%) fell after warning of ongoing supply chain disruptions, while Intel Corp. (INTC -7.04%) fell following weaker-than-anticipated guidance. In other corporate news, Netflix, Inc. (NFLX +7.51%) rose on reports billionaire investor William Ackman’s hedge fund purchased more than $1 billion worth of shares.

On the data front, an advance reading of fourth-quarter U.S. GDP showed the economy expanded at a 6.9% annualized pace, capping the strongest year-over-year growth rate since 1984. Separately, weekly initial jobless claims eased to 260,000. Treasuries were mixed, with the yield on the 10-year note retreating six basis points (0.06%) to 1.81%, while the yield on the two-year note rose three basis points (0.03%) to 1.19%, a 23-month peak. In FOREX trading, a gauge of the U.S. dollar jumped the most since March 2020, rallying 0.8% to its highest level since mid-2020.


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 Sector, Gold & Silver, and Bank Indexes Led Group Decliners

The Semiconductor Index ($SOX -4.78%) led the tech sector lower while the Biotech Index ($BTK -1.96%) and Networking Index ($NWX -1.72%) also slumped.  The Gold & Silver Index ($XAU -2.91%) suffered a big loss. Energy-linked groups were mixed as the  Oil Services Index ($OSX -1.23%) fell and the Integrated Oil Index ($XOI +1.26%) rose. The Bank Index ($BKX -1.20%) slumped and the Broker/Dealer Index ($XBD -0.29%) edged lower while the Retail Index ($RLX +0.19%) eked out a small gain.

Chart courtesy of www.stockcharts.com


PICTURED: The Oil Services Index ($OSX -1.23%) is perched within striking distance of its 2021 highs.

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  64.69 -0.80 -1.23% +22.70%
Integrated Oil $XOI  1,392.31 +17.26 +1.26% +18.17%
Semiconductor $SOX  3,243.99 -163.01 -4.78% -17.79%
Networking $NWX  832.63 -14.58 -1.72% -14.26%
Broker/Dealer $XBD  460.26 -1.32 -0.29% -5.46%
Retail $RLX  3,605.66 +6.93 +0.19% -14.69%
Gold & Silver $XAU  122.14 -3.66 -2.91% -7.78%
Bank $BKX  133.04 -1.62 -1.20% +0.62%
Biotech $BTK  4,790.85 -95.92 -1.96% -13.18%


Formed Double Bottom Base and Faces Little Resistance

Stifel Financial Corp (SF +$1.32 or +1.86% to $72.29) was highlighted in yellow with pivot point cited based on its 1/12/22 high in the earlier mid-day report while building on a "double bottom" base. Disciplined investors will wait for a noted follow-through day in the market (M criteria) to confirm a new uptrend. Subsequent gains above the stock's pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal. It has been rebounding toward its all-time high with 2 consecutive volume-driven gains after again briefly undercutting its 200-day moving average (DMA) line. 

It has a 98 Earnings Per Share Rating, well above the 80+ minimum guideline for buy candidates.  It reported strong results above the +25% minimum guideline (C criteria). in the past 5 quarterly comparisons through Dec '21 versus the year ago period. Annual earnings (A criteria) history has been good.

It hails from the FINANCIAL SERVICES - Investment Brokerage - Regional industry group which is currently ranked 51st on the 197 Industry Groups list.  There are 104.3 million shares outstanding (S criteria). The number of top-rated funds owning its shares rose from 601 in Mar '21 to 613 in Dec '21. Its current Up/Down Volume Ratio of 0.8 is an unbiased indication its shares have been under distributional pressure over the past 50 days. It has a Timeliness Rating of B and Sponsorship Rating of C

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  
$608.72 +3.47
0.57%

$618.75

658,774
88.66% of 50 DAV
50 DAV is 743,000
$686.62
-11.35%
12/13/2021 $647.95 PP = $686.72
MB = $721.06
Most Recent Note - 1/27/2022 7:10:42 PM
G - Volume totals have been cooling while recently holding its ground in a tight range above prior lows and above its 200 DMA line ($588.76) which define the important near-term support. A rebound above the 50 DMA line ($631) still is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Regeneron Still Lingering Below 50-Day Moving Average Line - 1/11/2022
 |  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 SF SF - NYSE
Stifel Financial Corp
FINANCIAL SERVICES - Investment Brokerage - Regiona  
$72.29 +1.32
1.86%

$74.84

1,210,505
251.66% of 50 DAV
50 DAV is 481,000
$78.60
-8.03%
1/27/2022 $74.17 PP = $76.23
MB = $80.04
Most Recent Note - 1/27/2022 7:09:29 PM
Y - Finished in the lower third of its intra-day range today, encountering some distributional pressure after highlighted in yellow with pivot point cited based on its 1/12/22 high while building on a "double bottom" base. Disciplined investors will wait for a noted follow-through day in the market (M criteria) to confirm a new uptrend. Subsequent gains above the stock's pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal. Rebounding toward its all-time high with today's 2nd consecutive volume-driven gain after again briefly undercutting its 200 DMA line. Reported strong results in the past 5 quarterly comparisons through Dec '21 versus the year ago period. Annual earnings (A criteria) history has been good. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Formed Double Bottom Base and Faces Little Resistance - 1/27/2022
 |  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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