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AFTER MARKET UPDATE - TUESDAY, APRIL 12TH, 2022
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Indices NYSE Nasdaq
DOW  -87.72 34,220.36 -0.26% Volume 872,943,006 -6% Volume 4,962,634,400 +3%
NASDAQ -40.38 13,371.57 -0.30% Advancers 1,588 50% Advancers 1,829 43%
S&P 500 -15.08 4,397.45 -0.34% Decliners 1,594 50% Decliners 2,431 57%
Russell 2000 +6.61 1,986.94 +0.33% 52 Wk Highs 90   52 Wk Highs 72  
S&P 600 +6.90 1,271.92 +0.55% 52 Wk Lows 276   52 Wk Lows 289  

Three Major Indices Reversed Early Gains to Close Lower

The Dow lost 87 points, erasing a more than 300 point intraday gain, while the S&P 500 and Nasdaq Composite each slipped 0.3% as growth-oriented shares continued to underperform. Volume totals reported were mixed, lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Advancers and decliners were evenly mixed on the NYSE, but decliners led advancers by a 4-3 margin on the Nasdaq exchange. There were 29 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 35 on the prior session.  New 52-week lows totals solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchangeThe major indices are in an uptrend that has come under pressure (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 S&P 500 Index slumped below its 200-day moving average (DMA) line last week. It has slumped below its 50 DMA line with 3 consecutive losses on lighter volume. 

U.S. stocks turned lower on Tuesday as investors exhibited caution before the unofficial start to earnings season. Meanwhile, Treasuries stabilized following an in-line inflation reading. The Consumer Price Index (CPI) rose 1.2% in March, matching estimates for its largest monthly gain since 2005. Gasoline costs fueled half of the March increase, while food prices were also a notable contributor. The year-over-year pace accelerated to 8.5% from the prior 7.9% clip, marking the highest annual reading since December 1981. The year-over-year figure is widely anticipated to represent a peak, as it accounted for the surge in food and energy costs following Russia’s invasion of Ukraine. The yield on the benchmark 10-year note shed six basis points (0.06%) to 2.72%, falling for the first time in eight days. The two-year note yield slid 13 basis points (0.13%) to 2.37%, its biggest one-day pull back since late February. In other data, a gauge of small business optimism deteriorated more than projected in March as survey respondents cited inflation as their biggest headwind.

Seven of 11 S&P 500 sectors finished in negative territory with Financials leading laggards. Energy outperformed as oil prices reclaimed $100/barrel. West Texas Intermediate crude jumped 6.6% to $100.55/barrel as China eases COVID-19 restrictions in Shanghai. In earnings, CarMax Inc. (KMX -9.54%) fell after missing profit estimates, pressured by rising used car prices.

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.


Financials Weak as Commodity-Linked Groups Had Positive Bias

Commodity-linked groups had a positive bias as the Oil Services Index ($OSX +2.63%), Integrated Oil Index ($XOI +1.62%), and Gold & Silver Index ($XAU +0.73%) posted unanimous gains.  The Broker/Dealer Index ($XBD -0.74%) and Bank Index ($BKX -1.35%) both lost ground and created a drag on the major averages.  The tech sector was indecisive as the Semiconductor Index ($SOX -0.25%) and Biotech Index ($BTK -0.64%) both edged lower while the Networking Index ($NWX +0.09%) fininshed flat. The Retail Index ($RLX -0.07%) was also unchanged.  
Chart courtesy of www.stockcharts.com


PICTURED: The Bank Index ($BKX -1.35%) is sinking near its July 2021 low and closed Tuesday's session down -20.7% from its January 2022 record high. Its 50-day moving average (DMA) recently crossed below its 200 DMA, a bearish technical signal termed a "death cross". Longtime readers should recognize that weakness in financials bodes especially badly for the broader market outlook, since the financials have served as reliable "leading indicators". 

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  82.06 +2.10 +2.63% +55.65%
Integrated Oil $XOI  1,605.21 +25.59 +1.62% +36.24%
Semiconductor $SOX  3,047.47 -7.62 -0.25% -22.77%
Networking $NWX  838.28 +0.76 +0.09% -13.68%
Broker/Dealer $XBD  438.57 -3.28 -0.74% -9.92%
Retail $RLX  3,691.12 -2.74 -0.07% -12.67%
Gold & Silver $XAU  163.96 +1.19 +0.73% +23.79%
Bank $BKX  118.17 -1.62 -1.35% -10.63%
Biotech $BTK  5,139.39 -33.10 -0.64% -6.87%


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  
$715.79 -6.58
-0.91%

$726.33

488,815
67.33% of 50 DAV
50 DAV is 726,000
$747.42
-4.23%
3/14/2022 $647.95 PP = $673.96
MB = $707.66
Most Recent Note - 4/12/2022 6:05:37 PM
G - Pulled back today for a 2nd consecutive loss with lighter volume and closed near the session low. It has been repeatedly noted as extended from any sound base. Prior highs ($686 and $673) define initial support to watch above its 50 DMA line ($652.55).
>>> FEATURED STOCK ARTICLE : Volume Totals Have Been Light While Hovering at All-Time High - 4/4/2022
 |  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 IMKTA IMKTA - NASDAQ
Ingles Markets Inc Cl A
RETAIL - Grocery Stores  
$94.49 -0.19
-0.20%

$96.50

124,225
108.97% of 50 DAV
50 DAV is 114,000
$95.75
-1.32%
4/11/2022 $96.25 PP = $95.75
MB = $100.54
Most Recent Note - 4/12/2022 6:03:39 PM
Y - There was a "negative reversal" today after 4 consecutive gains. Finished near the session low on the prior session after highlighted in yellow with pivot point cited based on its 3/21/22 high after a cup-with-high-handle base pattern. Subsequent gains backed by at least +40% above average volume and a strong close above the pivot point may clinch a technical buy signal. Reported Dec '21 earnings +31% on +17% 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 growth (A criteria) has been very strong in recent years. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Closed Near Session Low and Below Pivot Point Cited - 4/11/2022
 |  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 IMXI IMXI - NASDAQ
International Money Exp
Financial Svcs-Specialty  
$20.43 +0.61
3.08%

$20.91

606,942
171.94% of 50 DAV
50 DAV is 353,000
$21.98
-7.05%
3/8/2022 $18.64 PP = $19.06
MB = $20.01
Most Recent Note - 4/12/2022 6:04:28 PM
G - Posted a volume-driven gain today following 3 consecutive losses. It has not formed a sound base. Prior highs in the high $18 area define initial support to watch above its 50 DMA line ($18.20).
>>> FEATURED STOCK ARTICLE : Holding Ground After Rallying From Prior Base - 3/24/2022
 |  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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