Help Lines 954-785-1121
 


You are not logged in. Upgrade Here
 <<<Previous Mid Day Report     Next Mid Day Report >>> 
 <<<Previous After Market Report Next After Market Report >>> 
You are not logged in.
This means you CAN ONLY VIEW reports that were published prior to Sunday, January 28, 2024.
You MUST UPGRADE YOUR MEMBERSHIP if you want to see any current reports.

AFTER MARKET UPDATE - FRIDAY, APRIL 22ND, 2022
Previous After Market Report Next After Market Report >>>
Indices NYSE Nasdaq
DOW  -981.36 33,811.40 -2.82% Volume 1,000,371,617 +5% Volume 4,379,257,800 -16%
NASDAQ -335.36 12,839.29 -2.55% Advancers 485 15% Advancers 1,145 26%
S&P 500 -121.88 4,271.78 -2.77% Decliners 2,662 85% Decliners 3,208 74%
Russell 2000 -50.80 1,940.66 -2.55% 52 Wk Highs 20   52 Wk Highs 43  
S&P 600 -31.96 1,260.43 -2.47% 52 Wk Lows 412   52 Wk Lows 643  

TODAY'S SPECIAL NOTICE

Damaging losses have signaled a market correction. Limiting losses and reducing market exposure is prudent until a new confirmed rally is noted. 


Major Indices Dive into Deeper Correction

The Dow lost 981 points in its worst day since October 2020, weathering a fourth consecutive weekly decline (-1.9%). The S&P 500 fell 2.8%, while the Nasdaq Composite retreated 2.6%, dragging their five-day slide to 2.8% and 3.8%, respectively. Both benchmarks suffered their third straight weekly drawdown, their longest such losing streak since January. Volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange, indicative of an increase in institutional selling pressure termed "distribution".  Breadth was clearly negative as decliners led advancers by more than a 5-1 margin on the NYSE and by nearly 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, down from 77 on the prior session.  New 52-week lows expanded and outnumbered shrinking new 52-week highs on both the NYSE and the Nasdaq exchangeThe damage to the major indices signaled a market correction (M criteria). Strict followers of the fact-based investment system know to use great caution and always be prepared to reduce exposure by selling any weakening stocks on a case-by-case basis. 

Chart courtesy of www.stockcharts.com


PICTURED: The Dow Jones Industrial Average abruptly reversed and violated both its 200-day and 50-day moving average (DMA) lines.

U.S. stocks finished near session lows on Friday amid anxiety over looming central bank interest rate hikes.  The mega-cap Nasdaq 100’s 2.7% drop left the index nearly 10% lower month-to-date. The CBOE Volatility Index (VIX) climbed to a one-month high, while a gauge of the U.S. dollar soared 0.6% to a July 2020 peak.

Yesterday, Federal Reserve (Fed) Chair Jerome Powell confirmed that a 0.50% rate hike was “on the table” for the May 4 policy decision as officials prioritized the fight against inflation. Traders moved to price in a larger-than-normal 0.50% rate increase at each of the Fed’s upcoming meetings in May, June, July, and September. Shorter-dated Treasuries extended their rout, with the more Fed-sensitive two-year note yield ascending to 2.69%, capping a 24-basis point (0.24%) weekly spike. On the data front, flash readings from S&P Global revealed the U.S. manufacturing and services sectors remained in expansionary territory in April, with growth in the former unexpectedly accelerating.

All 11 S&P 500 sectors closed in negative territory with Health Care among the worst performers. HCA Healthcare Inc. (HCA -21.82%) and Intuitive Surgical Inc. (ISRG -14.34%) both fell on downbeat results. Elsewhere, Verizon Communications Inc. (VZ -5.54%) after slashing its full-year revenue forecast. Kimberly-Clark Corp. (KMB +8.13%) bucked the downtrend, rising following a boost to its 2022 sales projections.

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.


Retail, Tech, Financial, and Commodity-Linked Groups Fell

The Gold & Silver Index ($XAU -3.41%), Oil Services Index ($OSX -2.85%), and Integrated Oil Index ($XOI -2.82%) each lost ground. The Semiconductor Index ($SOX -2.25%), Networking Index ($NWX -1.67%), and Biotech Index ($BTK -2.17%) each fell. Losses for the Broker/Dealer Index ($XBD -3.28%), Bank Index ($BKX -2.48%) and Retail Index ($RLX -2.97%) rounded out the thoroughly negative Friday session.

Chart courtesy of www.stockcharts.com


PICTURED: The Networking Index ($NWX -1.67%) has been slumping below its 50-day and 200-day moving average (DMA) lines toward prior lows.

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  78.91 -2.32 -2.85% +49.69%
Integrated Oil $XOI  1,554.52 -45.07 -2.82% +31.94%
Semiconductor $SOX  2,989.83 -68.91 -2.25% -24.23%
Networking $NWX  820.08 -13.92 -1.67% -15.55%
Broker/Dealer $XBD  426.30 -14.44 -3.28% -12.44%
Retail $RLX  3,588.72 -109.68 -2.97% -15.09%
Gold & Silver $XAU  151.14 -5.34 -3.41% +14.11%
Bank $BKX  116.05 -2.95 -2.48% -12.23%
Biotech $BTK  4,891.71 -108.66 -2.17% -11.36%


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  
$688.08 -18.03
-2.55%

$709.06

609,366
91.63% of 50 DAV
50 DAV is 665,000
$747.42
-7.94%
3/14/2022 $647.95 PP = $673.96
MB = $707.66
Most Recent Note - 4/22/2022 5:32:15 PM
Y - Pulled back further today with higher (near average) volume. Prior highs ($686 and $673) define initial support to watch above its 50 DMA line ($666).
>>> 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  
$96.12 -3.21
-3.23%

$99.49

86,066
74.84% of 50 DAV
50 DAV is 115,000
$101.98
-5.75%
4/11/2022 $96.25 PP = $95.75
MB = $100.54
Most Recent Note - 4/22/2022 5:29:17 PM
Y - Consolidating with lighter volume totals since hitting new 52-week highs with two consecutive volume-driven gains. 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 may clinch a convincing 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.
>>> 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 WCC WCC - NYSE
Wesco International Inc
WHOLESALE - Electronics Wholesale  
$125.68 -7.50
-5.63%

$131.62

355,795
78.37% of 50 DAV
50 DAV is 454,000
$140.92
-10.81%
4/21/2022 $135.54 PP = $139.10
MB = $146.06
Most Recent Note - 4/22/2022 12:26:32 PM
Y - Slumping for a big loss today with very light volume. Churned +36% above average volume on the prior session but ended near the session low after highlighted in the mid-day report in yellow with pivot point cited based on its 1/05/22 high plus 10 cents. Prior highs in the $139-140 area were stubborn resistance. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Found support near its 200 DMA line in recent weeks. Reported strong Mar, Jun, Sep, and Dec '21 quarterly results versus the year ago periods, well above the +25% minimum guideline. Annual earnings growth has been steady. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Approaching Prior Highs Where it Met Resistance - 4/21/2022
 |  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 SMPL SMPL - NASDAQ
Simply Good Foods Co
Food-Confectionery  
$42.25 -0.94
-2.18%

$43.29

871,738
133.91% of 50 DAV
50 DAV is 651,000
$45.77
-7.69%
4/13/2022 $41.79 PP = $43.27
MB = $45.43
Most Recent Note - 4/22/2022 5:34:32 PM
Y - Today marked a 3rd consecutive loss with above average volume following a "negative reversal" at its 52-week high. Prior high in the $43 area defines initial support to watch. Reported Feb '22 quarterly earnings +44% on +29% sales revenues versus the year ago period, its 4th strong quarterly comparison.
>>> FEATURED STOCK ARTICLE : Simply Good Foods Had a Great Breakout - 4/14/2022
 |  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 IMXI IMXI - NASDAQ
International Money Exp
Financial Svcs-Specialty  
$19.72 -0.79
-3.85%

$20.45

167,365
44.99% of 50 DAV
50 DAV is 372,000
$21.98
-10.28%
3/8/2022 $18.64 PP = $19.06
MB = $20.01
Most Recent Note - 4/22/2022 5:30:46 PM
Y - Color code is changed to yellow after pulling back below its "max buy" level. Volume totals are cooling while consolidating. Prior highs coincide with its 50 DMA line ($18.85) defining important near term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Consolidating After Rally From Previously Noted Base - 4/18/2022
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
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

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.

Copyright © 1996-2024 Gruneisen Growth Corp. All rights reserved. Protected by the copyright laws of the United States and Canada and by international treaties

Privacy Policy | Terms of Use | Contact Us