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AFTER MARKET UPDATE - WEDNESDAY, FEBRUARY 9TH, 2022
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Indices NYSE Nasdaq
DOW  +305.28 35,768.06 +0.86% Volume 901,875,439 +1% Volume 4,669,757,900 +10%
NASDAQ +295.92 14,490.37 +2.08% Advancers 2,302 72% Advancers 3,123 70%
S&P 500 +65.64 4,587.18 +1.45% Decliners 896 28% Decliners 1,355 30%
Russell 2000 +38.13 2,083.50 +1.86% 52 Wk Highs 91   52 Wk Highs 64  
S&P 600 +14.64 1,322.34 +1.12% 52 Wk Lows 148   52 Wk Lows 148  

Major Indices Continue Rebound With Greater Leadership

The Nasdaq Composite jumped 2.1%, having rebounded more than 8.5% from its January 27 low, and is now out of correction territory (defined as a 10% drawdown from a recent peak). The Dow added 305 points, while the S&P 500 climbed 1.5%, with the benchmarks back within 2.9% and 4.4% of their respective early January records. Volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange. Advancers led decliners by more than a 2-1 margin on the NYSE and on the Nasdaq exchange. Leadership improved as there were 49 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 38 on the prior session. New 52-week lows solidly outnumbered new highs on the NYSE and on the Nasdaq exchangeA follow-through day on Monday, January 31st confirmed a new uptrend for the market averages (M criteria).
Chart courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average posted a 3rd consecutive gain and rebounded above its 50-day moving average (DMA) line.

Stocks finished higher in another broad-based rally Wednesday as tech-related shares extended their recovery ahead of tomorrow’s key inflation update. All 11 S&P 500 sectors closed in positive territory, with four groups gaining more than 2%. In earnings, Chipotle Mexican Grill Inc. (CMG +10.16%) rose after exceeding profit estimates and increasing its menu prices to offset higher costs. Elsewhere, CVS Health Corp. (CVS -5.45%) fell as store closures and lower guidance overshadowed a top and bottom line beat.

Meanwhile, longer-dated Treasuries strengthened for the first time in five sessions, with the yield on the 10-year note down one basis point (0.01%) to 1.95% as a $37 billion auction of the maturity was met with robust demand. Remarks from regional Federal Reserve Presidents Bostic and Mester also helped support bond prices, as they suggested inflationary pressures should ease later this year. Tomorrow, however, a report is expected to show consumer price inflation increasing at a 7.2% annual pace, which would mark the highest level since February 1982. Globally, sovereign bond yields also stabilized following central bank commentary that leaned dovish. In commodities, West Texas Intermediate crude climbed 0.7% to $89.96/barrel after government data revealed domestic crude stockpiles dropped to the lowest level since 2018.

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.


Broker/Dealer, Tech, and Energy-Linked Groups Rose

The Broker/Dealer Index ($XBD +1.40%) posted a solid gain while the Bank Index ($BKX +0.09%) finished flat. The Retail Index ($RLX +0.49%) edged higher. The Biotech Index ($BTK +3.25%), Semiconductor Index ($SOX +3.35%), and Networking Index ($NWX +1.82%) posted unanimous gains.  The Oil Services Index ($OSX +1.70%) and Integrated Oil Index ($XOI +1.20%) both posted solid gains and outpaced the Gold & Silver Index ($XAU +0.16%) which only inched higher.
Chart courtesy of www.stockcharts.com


PICTURED: The Biotech Index ($BTK +3.25%) rebounded near its 50-day but remains well below its 200-day moving average (DMA) line.
 

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  66.84 +1.12 +1.70% +26.78%
Integrated Oil $XOI  1,450.36 +17.14 +1.20% +23.10%
Semiconductor $SOX  3,653.72 +118.59 +3.35% -7.41%
Networking $NWX  873.67 +15.59 +1.82% -10.03%
Broker/Dealer $XBD  511.91 +7.09 +1.40% +5.15%
Retail $RLX  3,952.59 +19.45 +0.49% -6.48%
Gold & Silver $XAU  131.60 +0.21 +0.16% -0.64%
Bank $BKX  143.90 +0.14 +0.09% +8.83%
Biotech $BTK  5,268.87 +165.81 +3.25% -4.52%


Featured Stocks

 

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  
$619.77 +1.83
0.30%

$620.96

807,169
101.40% of 50 DAV
50 DAV is 796,000
$686.62
-9.74%
12/13/2021 $647.95 PP = $686.72
MB = $721.06
Most Recent Note - 2/8/2022 5:14:11 PM
G - Still meeting resistance near its 50 DMA line ($626.73). Gains above that important short-term average are needed for its outlook to improve. Reported Dec '21 quarterly earnings +149% on +104% sales revenues versus the year ago period. Recently holding its ground in a tight range above prior lows and above its 200 DMA line ($594) which define the important near-term support.
>>> FEATURED STOCK ARTICLE : Earnings News Due While Consolidating Above 200 DMA Line - 2/1/2022
 |  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  
$80.89 -0.54
-0.66%

$83.28

858,274
147.72% of 50 DAV
50 DAV is 581,000
$81.67
-0.96%
1/27/2022 $74.17 PP = $76.23
MB = $80.04
Most Recent Note - 2/9/2022 1:00:46 PM
G - Hit another new 52-week high today. Prior highs in the $76-78 area define initial support to watch on pullbacks. Rallied above its "max buy" level with volume-driven gains, getting extended from the previously noted "double bottom" base.
>>> 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 
StockCharts.com Latest Chart for TGH TGH - NYSE
Textainer Group Holdings
TRANSPORTATION - Logistics  
$40.66 -0.16
-0.39%

$41.37

605,931
166.92% of 50 DAV
50 DAV is 363,000
$41.35
-1.67%
1/31/2022 $36.68 PP = $41.34
MB = $43.41
Most Recent Note - 2/9/2022 1:09:21 PM
Y - Touching new 52-week highs with today's 3rd consecutive volume-driven gain. Found support at its 50 DMA line ($36.34) recently. Due to report Dec '21 quarterly results on 2/10/22. Volume and volatility often increase near earnings news. Subsequent gains backed by at least +40% above average volume and a strong close above the pivot point cited based on its 11/05/21 high plus 10 cents may trigger a proper technical buy signal.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Moving Average - 1/31/2022
 |  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 HWKN HWKN - NASDAQ
Hawkins Inc
CHEMICALS - Basic Chemicals  
$40.23 -1.27
-3.06%

$41.94

48,172
87.59% of 50 DAV
50 DAV is 55,000
$41.63
-3.36%
2/3/2022 $39.81 PP = $41.07
MB = $43.12
Most Recent Note - 2/8/2022 5:11:26 PM
Y - Posted a solid volume-driven gain today hitting a new all-time high and clinching a technical buy signal. It was highlighted in yellow with pivot point cited based on its 1/04/22 high plus 10 cents in the 2/03/22 mid-day report following a gap up, rebounding above its 50 DMA line ($37.92).
>>> FEATURED STOCK ARTICLE : Bullish Action Followed Another Strong Quarterly Report - 2/3/2022
 |  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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