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AFTER MARKET UPDATE - WEDNESDAY, MARCH 23RD, 2022
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Indices NYSE Nasdaq
DOW  -448.96 34,358.50 -1.29% Volume 944,477,179 -12% Volume 4,971,379,900 -7%
NASDAQ -186.21 13,922.60 -1.32% Advancers 1,102 34% Advancers 1,554 35%
S&P 500 -55.37 4,456.24 -1.23% Decliners 2,112 66% Decliners 2,832 65%
Russell 2000 -36.14 2,052.21 -1.73% 52 Wk Highs 82   52 Wk Highs 65  
S&P 600 -24.41 1,311.95 -1.83% 52 Wk Lows 80   52 Wk Lows 114  

TODAY'S SPECIAL NOTICE

Solid gains from all major market averages came with higher volume coupled with an increase in stocks hitting new 52-week highs last Wednesday - bullish action noted as a late follow-through day confirming a new uptrend (M criteria). Followers of the fact-based investment system know any new buying efforts may be justified only in stocks fitting all key fundamental and technical investment criteria. 


Major Indices Fell With Lighter Volume

The Dow lost 448 points, while the Nasdaq Composite fell 1.3%. The S&P 500 shed 1.2%, but remains within 7.1% of its January 3 record high. The broad benchmark had recovered roughly half of its losses since January over the prior six sessions, nearly doubling from its pandemic-induced bottom touched on this day two years ago. Volume totals reported were lighter than the prior session on the NYSE and on the Nasdaq exchange, indicating there was not a pickup in institutional selling. Breadth was negative as decliners led advancers by almost a 2-1 margin on the NYSE and on the Nasdaq exchange. There were 22 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, up from the total of 35 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but 52-week lows still outnumbered new 52-week highs totals on the Nasdaq exchangeThe recently noted follow-through day confirmed a new uptrend (M criteria).

Chart courtesy of www.stockcharts.com

PICTURED: The Nasdaq Composite Index pulled back with light volume. It recently rebounded above its 50-day moving average (DMA) line.

U.S. stocks finished near session lows on Wednesday, with equities taking a breather from their recent rebound as oil prices resumed their ascent. West Texas Intermediate crude climbed 4.7% to $114.39/barrel amid the expectation that the U.S. and its allies would announce fresh sanctions against Russia. 

Treasuries recouped some of their recent decline, with the yield on the 10-year note down nine basis points (0.09%) to 2.29%. However, the benchmark yield touched 2.41% during intraday trading, its highest level since May 2019, while an index of Treasuries is positioned for its worst quarterly performance since at least 1973. Bonds have been pressured amid a chorus of hawkish Federal Reserve commentary, with numerous officials voicing support for a more aggressive pace of monetary policy tightening to combat inflation.

Nine of 11 S&P 500 sectors closed in negative territory, with Energy and Utilities bucking the downtrend. Financials and Health Care led the decline, while homebuilders also lagged following weaker-than-expected data and worries around rising mortgage rates. On the data front, new home sales unexpectedly fell 2% in February after slumping 8.4% in January. In earnings, Adobe Inc. (ADBE -9.34%) fell as a disappointing forecast overshadowed otherwise positive results.

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.


Financial, Retail, and Tech Indexes Fell

The tech sector had a negative bias as the Semiconductor Index ($SOX -2.48%), Biotech Index ($BTK -2.43%), and Networking Index ($NWX -1.87%) each lost ground.  The Broker/Dealer Index ($XBD -2.12%), Bank Index ($BKX -2.79%), and Retail Index ($RLX -1.61%) suffered losses. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +1.97%), , and Integrated Oil Index ($XOI +2.27%) posted unanimous gains. 
Chart courtesy of www.stockcharts.com


PICTURED: The Oil Services Index ($OSX +1.40%) is consolidating above its 50-day moving average (DMA) line.
 

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  78.64 +1.09 +1.40% +49.17%
Integrated Oil $XOI  1,581.84 +35.09 +2.27% +34.26%
Semiconductor $SOX  3,360.32 -85.53 -2.48% -14.85%
Networking $NWX  873.05 -16.66 -1.87% -10.09%
Broker/Dealer $XBD  473.13 -10.24 -2.12% -2.82%
Retail $RLX  3,859.60 -62.97 -1.61% -8.68%
Gold & Silver $XAU  160.55 +3.10 +1.97% +21.21%
Bank $BKX  128.53 -3.69 -2.79% -2.79%
Biotech $BTK  5,013.22 -124.79 -2.43% -9.16%


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  
$669.22 -23.42
-3.38%

$693.04

608,338
79.63% of 50 DAV
50 DAV is 764,000
$697.01
-3.99%
3/14/2022 $647.95 PP = $673.96
MB = $707.66
Most Recent Note - 3/23/2022 5:15:56 PM
Y - Pulled back for a 2nd loss on light volume after a streak of 9 consecutive gains for new all-time highs. No resistance remains due to overhead supply. Color code was changed to yellow with new pivot point cited based on its 12/14/21 high plus 10 cents. Recently found support above its 200 DMA line ($613.68).
>>> FEATURED STOCK ARTICLE : 6th Straight Gain Leaves Regeneron Near Record High - 3/16/2022
 |  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  
$39.23 -0.44
-1.11%

$40.26

262,753
54.85% of 50 DAV
50 DAV is 479,000
$41.89
-6.35%
1/31/2022 $36.68 PP = $41.34
MB = $43.41
Most Recent Note - 3/23/2022 5:16:58 PM
Y - Paused within striking distance of its all-time high after 6 consecutive gains. Color code was changed to yellow after rebounding above its 50 DMA line ($37.74) with 3 consecutive gains backed by light volume. Faces little resistance due to overhead supply up to the $41 level. Important near-term support to watch is its 200 DMA line ($35.27) and prior lows. Any violations would raise serious concerns and trigger technical sell signals. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Slumped Below 50-Day Moving Average Line Toward Prior Lows - 3/14/2022
 |  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  
$46.45 -0.91
-1.92%

$47.27

45,951
65.64% of 50 DAV
50 DAV is 70,000
$48.05
-3.33%
2/3/2022 $39.81 PP = $41.07
MB = $43.12
Most Recent Note - 3/23/2022 5:13:28 PM
G - Pulled back from its all-time high with lighter volume. It is extended from the previously noted base. Its 50 DMA line ($41.92) and prior highs in the $40 area define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Near High After Rising From Prior Base - 3/15/2022
 |  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 IMXI IMXI - NASDAQ
International Money Exp
Financial Svcs-Specialty  
$21.45 -0.06
-0.28%

$21.76

491,950
160.24% of 50 DAV
50 DAV is 307,000
$21.98
-2.41%
3/8/2022 $18.64 PP = $19.06
MB = $20.01
Most Recent Note - 3/23/2022 5:14:46 PM
G - Churned above average volume while holding its ground stubbornly near its all-time high. Prior highs in the high $18 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gains Challenged All-Time High - 3/8/2022
 |  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.

This report is a service available only to active Paid Premium Members. You may opt-out of receiving report notifications at any time.  Questions or comments may be submitted by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307 or 954-785-1121.

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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