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AFTER MARKET UPDATE - THURSDAY, MARCH 24TH, 2022
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Indices NYSE Nasdaq
DOW  +349.44 34,707.94 +1.02% Volume 836,325,065 -11% Volume 4,965,784,300 -0%
NASDAQ +269.23 14,191.84 +1.93% Advancers 2,102 65% Advancers 2,997 66%
S&P 500 +63.92 4,520.16 +1.43% Decliners 1,147 35% Decliners 1,545 34%
Russell 2000 +23.24 2,075.44 +1.13% 52 Wk Highs 95   52 Wk Highs 77  
S&P 600 +10.72 1,322.67 +0.82% 52 Wk Lows 98   52 Wk Lows 103  

Major Indices Rose With Lighter Volume Totals

The Dow added 349 points, while the S&P 500 jumped 1.4%. The Nasdaq Composite rallied 1.9%. Volume totals reported were lighter than the prior session on the NYSE and on the Nasdaq exchange, indicating less conviction in institutional buying efforts. Breadth was positive as advancers led decliners by almost a 2-1 margin on the NYSE and on the Nasdaq exchange. Leadership improved as there were 37 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 22 on the prior session. New 52-week lows outnumbered new 52-week high on the NYSE and on the Nasdaq exchangeThe recently noted follow-through day confirmed a new uptrend (M criteria). Strict followers of the fact-based investment system only buy stocks fitting all key fundamental and technical investment criteria. 

Chart courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average has seen lighter volume totals since it recently rebounded above its 50-day moving average (DMA) line.

U.S. stocks finished near their best levels on Thursday, extending their recent upward momentum. Treasuries resumed their rout as a chorus of Federal Reserve speakers continued to voice support for a more aggressive path of rate hikes. The yield on the 10-year note added six basis points (0.06%) to 2.35%. Meanwhile, mortgage rates once again surged in the latest week, with the 30-year rate climbing to its highest level since January 2021.

On the data front, unemployment data continued to highlight a tight labor market. Weekly initial jobless claims fell to 187,000, the lowest level since 1969. Separately, flash readings on U.S. business activity from S&P Global showed growth unexpectedly accelerated in March. The composite purchasing managers’ index (PMI) print hit the highest level in eight months. Separately, durable goods orders contracted for the first time in five months in February. In commodities, WTI crude slid 3.3% to $111.16/barrel as the U.S. and the EU neared a deal aimed at curtailing Europe’s dependence on Russian energy exports.

All 11 S&P 500 sectors finished in positive territory, with Technology pacing the gains amid strength in chipmakers. NVIDIA Corp. (NVDA +9.82%) rose after pledging to reinvest excess cash into its core business. Additionally, the company said it would explore a manufacturing partnership with Intel Corp, (INTC +6.94%). Elsewhere, Uber Technologies Inc. (UBER +4.96%) rose after reaching an agreement to list New York City Taxis on their ride-hailing app.

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 and Financial Indexes Rose

The Broker/Dealer Index ($XBD +1.63%) and Bank Index ($BKX +0.65%) both rose and the Retail Index ($RLX +0.16%) also inched higher. The Semiconductor Index ($SOX +5.13%) led the tech sector while the Networking Index ($NWX +2.25%) and Biotech Index ($BTK +1.36%) each posted smaller gains. The Gold & Silver Index ($XAU +0.03%) and Integrated Oil Index ($XOI -0.04%) were little changed and the Oil Services Index ($OSX +0.26%) inched higher.  
Chart courtesy of www.stockcharts.com


PICTURED: The Semiconductor Index ($SOX +5.13%) has rebounded above its 50-day and 200-day moving average (DMA) lines.
 

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  78.85 +0.21 +0.26% +49.56%
Integrated Oil $XOI  1,581.14 -0.70 -0.04% +34.20%
Semiconductor $SOX  3,532.72 +172.39 +5.13% -10.48%
Networking $NWX  892.68 +19.63 +2.25% -8.07%
Broker/Dealer $XBD  480.84 +7.71 +1.63% -1.24%
Retail $RLX  3,865.78 +6.18 +0.16% -8.53%
Gold & Silver $XAU  160.60 +0.05 +0.03% +21.25%
Bank $BKX  129.36 +0.83 +0.65% -2.16%
Biotech $BTK  5,081.24 +68.02 +1.36% -7.92%


Holding Ground After Rallying From Prior Base

International Money Express (IMXI -$0.33 or -1.54% to $21.12) has recently churned above average volume while holding its ground stubbornly near its all-time high, extended from the previously noted base. Prior highs in the high $18 area define initial support to watch on pullbacks.

IMXI was highlighted in yellow in the 3/08/22 mid-day report (read here) with pivot point cited based on its 8/30/21 high plus 10 cents. It was shown with more details analysis that evening with an annotated graph under the headline, "Volume-Driven Gains Challenged All-Time High". A subsequent gain above the pivot point on March 16th was backed by +283% above average volume triggering a technical buy signal. 

Through the Dec '21 quarter the Financial Services-Specialty firm's quarterly and annual earnings (C and A criteria) history has been strong and backed by solid sales revenues growth. The past 6 quarterly comparisons showed earnings increases above the year ago period by more than +25% (C criteria). Annual earnings growth has been strong and it has a 95 Earnings Per Share Rating.

There is a small supply of only 32.4 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 210 in Mar '21 to 250 in Dec '21, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ration of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days
.

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  
$679.76 +10.54
1.57%

$680.08

402,292
52.93% of 50 DAV
50 DAV is 760,000
$697.01
-2.47%
3/14/2022 $647.95 PP = $673.96
MB = $707.66
Most Recent Note - 3/24/2022 5:30:18 PM
Y - Volume totals have been cooling while perched near its all-time high after a noted streak of gains marked by volume. 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 ($614.47).
>>> 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  
$40.19 +0.96
2.45%

$40.28

287,374
59.99% of 50 DAV
50 DAV is 479,000
$41.89
-4.06%
1/31/2022 $36.68 PP = $41.34
MB = $43.41
Most Recent Note - 3/24/2022 5:31:51 PM
Y - Volume was lighter behind today's gain and it is perched within close striking distance of its all-time high. Color code was changed to yellow after rebounding above its 50 DMA line ($37.78) 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 ($35.30) 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  
$46.97 +0.52
1.12%

$47.13

35,364
50.52% of 50 DAV
50 DAV is 70,000
$48.05
-2.25%
2/3/2022 $39.81 PP = $41.07
MB = $43.12
Most Recent Note - 3/24/2022 5:27:12 PM
G - Perched near its all-time high with volume totals cooling while extended from the previously noted base. Its 50 DMA line ($42.08) 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  
$21.12 -0.33
-1.54%

$21.79

375,968
119.74% of 50 DAV
50 DAV is 314,000
$21.98
-3.91%
3/8/2022 $18.64 PP = $19.06
MB = $20.01
Most Recent Note - 3/24/2022 5:28:04 PM
G - Still holding its ground stubbornly near its all-time high. Prior highs in the high $18 area define initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Holding Ground After Rallying From Prior Base - 3/23/2022
 |  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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