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, JUNE 17TH, 2022
Previous After Market Report Next After Market Report >>>
Indices NYSE Nasdaq
DOW  -38.29 29,888.78 -0.13% Volume 3,378,577,100 +147% Volume 7,432,609,600 +31%
NASDAQ +152.25 10,798.35 +1.43% Advancers 1,865 60% Advancers 2,610 62%
S&P 500 +8.07 3,674.84 +0.22% Decliners 1,225 40% Decliners 1,604 38%
Russell 2000 +15.86 1,665.69 +0.96% 52 Wk Highs 2   52 Wk Highs 21  
S&P 600 +7.64 1,095.12 +0.70% 52 Wk Lows 566   52 Wk Lows 491  

TODAY'S SPECIAL NOTICE

The market remains in a correction (M criteria). Discipline and patience remain paramount until a new rally with confirmation marked by a solid follow-through day.


Major Indices Churned High Volume While Stuck at 2022 Lows

The Dow slipped 38 points, extending its weekly losses to 4.8%. Meanwhile, the S&P 500 gained 0.2%, though still remained more than 20% below its January 3 record level. The tech-heavy Nasdaq Composite jumped 1.4% as recently beleaguered growth-related stocks staged a relief rally. Still, both benchmarks fell for a third consecutive week, with the S&P 500 suffering its worst weekly drawdown since March 2020 with a 5.8% slump. The Nasdaq Composite fell 4.8% for the week. Volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange, inflated by options expirations. Advancers led decliners by a 3-2 margin on the NYSE and by 5-3 on the Nasdaq exchange. Leadership remained very thin as there was only 1 high-ranked company from the Leaders List that hit a new 52-week high and was listed on the BreakOuts Page, versus the total of 2 on the prior session. New 52-week lows totals contracted from Thursday's very high totals but still solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The major indices have been in a noted market correction (M criteria). 

Chart courtesy of www.stockcharts.com


PICTURED: The S&P 500 Index churned heavy volume at a new 2022 low and finished -23.7% from its January 4, 2022 record high

U.S. equities finished mostly higher during a volatile session on Friday, with Wall Street attempting to end a downbeat week on a positive note. Market participants weighed the first comments from Federal Reserve (Fed) leaders following their 0.75% rate hike on Wednesday. Fed Chair Jerome Powell reiterated the U.S. central bank’s commitment to curb inflation, while Kansas City Fed President Esther George explained that she was oppose to a larger increase because it may create an uncertain outlook given the Fed’s balance sheet runoff. Treasuries were little changed, with the yield on the 10-year note off one basis point (0.01%) to 3.23%, settling up eight basis points (0.08%) from last Friday’s closing level.

Six of 11 S&P 500 sectors finished in positive territory, with the Communication Services and Consumer Discretionary groups outperforming. Meanwhile, Energy lagged, as West Texas Intermediate (WTI) crude slumped 6.6% to $109.85/barrel, notching its first weekly decline in eight weeks. In corporate news, Adobe Inc. (ADBE -1.18%) fell on disappointing forward guidance. Roku Inc. (ROKU +4.89%) rose after announcing an partnership with Walmart Inc. (WMT -1.93%) that would allow steamers to purchase products directly on their TV.


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, Retail, and Financial Indexes Rose

The Retail Index ($RLX +1.13%), Bank Index ($BKX +0.88%), and Broker/Dealer Index ($XBD +0.63%) each posted gains and helped to boost the major averages. The Biotech Index ($BTK +3.47%) led the tech sector's bounce while the Networking Index ($NWX +1.80%) followed and the Semiconductor Index ($SOX +0.46%) edged higher. Meanwhile, commodity-linked groups had a negative bias as the Oil Services Index ($OSX -4.58%) and Integrated Oil Index ($XOI -5.76%) both outpaced the Gold & Silver Index ($XAU -1.54%) to the downside.     
Chart courtesy of www.stockcharts.com

PICTURED: The Integrated Oil Index ($XOI -5.76%) is abruptly retreating after violating its 50-day moving average (DMA) line, and it is already down -21% from its June 8th high.
 

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  65.97 -3.17 -4.58% +25.13%
Integrated Oil $XOI  1,515.37 -92.67 -5.76% +28.62%
Semiconductor $SOX  2,578.54 +11.68 +0.46% -34.66%
Networking $NWX  673.11 +11.88 +1.80% -30.68%
Broker/Dealer $XBD  371.02 +2.34 +0.63% -23.79%
Retail $RLX  2,820.22 +31.44 +1.13% -33.27%
Gold & Silver $XAU  121.42 -1.90 -1.54% -8.33%
Bank $BKX  100.54 +0.88 +0.88% -23.96%
Biotech $BTK  4,359.77 +146.35 +3.47% -21.00%


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 PAG PAG - NYSE
Penske Automotive Grp
Retail/Whlsle-Automobile  
$106.06 +3.58
3.49%

$106.36

742,822
207.49% of 50 DAV
50 DAV is 358,000
$123.60
-14.19%
5/13/2022 $114.88 PP = $114.57
MB = $120.30
Most Recent Note - 6/17/2022 5:21:48 PM
G - Posted a gain today with heavy volume, finding prompt support near its 200 DMA line ($103). More damaging losses would be a worrisome sign. A prompt rebound above the 50 DMA line ($108) is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Penske Perched at High With No Resistance Remaining - 6/2/2022
 |  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 LLY LLY - NYSE
Eli Lilly & Co
Medical-Diversified  
$290.90 +2.83
0.98%

$300.99

6,888,853
231.40% of 50 DAV
50 DAV is 2,977,000
$324.08
-10.24%
5/16/2022 $302.46 PP = $314.10
MB = $329.81
Most Recent Note - 6/17/2022 12:31:37 PM
G - Quietly slumped below its 50 DMA line ($298) which may now act as resistance. A rebound above the 50 DMA line is needed for its outlook to improve. The fact-based investment system discourages any new buying until a follow-through day confirms a new market uptrend (M criteria).
>>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure After Reaching New Highs - 6/6/2022
 |  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.

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