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 - TUESDAY, JUNE 21ST, 2022
Previous After Market Report Next After Market Report >>>
Indices NYSE Nasdaq
DOW  +641.47 30,530.25 +2.15% Volume 1,261,007,406 -63% Volume 5,208,725,000 -30%
NASDAQ +270.95 11,069.30 +2.51% Advancers 2,299 72% Advancers 2,970 67%
S&P 500 +89.95 3,764.79 +2.45% Decliners 896 28% Decliners 1,469 33%
Russell 2000 +28.34 1,694.03 +1.70% 52 Wk Highs 11   52 Wk Highs 35  
S&P 600 +16.12 1,112.24 +1.47% 52 Wk Lows 158   52 Wk Lows 206  

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 Rose With Lighter Volume Totals

The S&P 500 rebounded 2.5% following its worst week since March 2020 (-5.8%). The Dow added 641 points, reclaiming the 30,000 mark, while the Nasdaq Composite jumped 2.5%. Volume totals reported were lighter than the prior session on the NYSE and on the Nasdaq exchange, as Friday's totals were inflated by options expirations. Advancers led decliners by almost a 3-1 margin on the NYSE and by 2-1 on the Nasdaq exchange. Leadership remained very thin as there were 3 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 1 on the prior session. New 52-week lows totals contracted further from last 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. stocks finished firmly higher on Tuesday as the major averages recouped some of last week’s steep losses. Recently, the equity rout has deepened on renewed worries that aggressive action by the Federal Reserve (Fed) to combat inflation could push the U.S. into a recession. Treasuries extended their slump. The yield on the 10-year note rose seven basis points (0.07%) to 3.30%, though remained below the 3.50% level touched during intraday trading last week.

All 11 S&P 500 sectors closed in positive territory, with Energy pacing gains amid a jump in oil prices. West Texas Intermediate crude rallied 1% to $110.65/barrel. Consumer Discretionary shares also outperformed as Tesla Inc. (TSLA +9.35%) surged. In other corporate news, Kellogg Co (K +1.95%) rose after announcing plans to spin off its North American cereal business and its plant-based food unit into two publicly traded companies. Homebuilder Lennar Corp. (LEN +1.58%) rose after topping profit and revenue estimates, though warned that higher interest rates were clouding the outlook for the housing market.

On the data front, the Chicago Fed National Activity Index unexpectedly fell to 0.01 in May from the prior 0.40 figure. Separately, existing home sales eased 3.4% last month to a nearly two-year low. Focus this week will likely be on comments from U.S. central bank officials after policymakers raised interest rates by 0.75% last Wednesday. Fed Chair Jerome Powell will headline a busy docket with his semi-annual Congressional testimony tomorrow and Thursday.


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.


Energy, Tech, Financial, and Retail Indexes Ended Higher

The Broker/Dealer Index ($XBD +2.39%) and Bank Index ($BKX +1.94%) both posted influential gains along with the Retail Index ($RLX +1.64%). The Semiconductor Index ($SOX +2.75%) led the tech sector rebound while the Networking Index ($NWX +1.79%) and Biotech Index ($BTK +0.87%) posted smaller gains. The Oil Services Index ($OSX +4.77%) and Integrated Oil Index ($XOI +4.95%) both posted standout gains while the Gold & Silver Index ($XAU +1.18%) posted a smaller gain.
Chart courtesy of www.stockcharts.com

PICTURED: The Retail Index ($RLX +1.64%) posted a 2nd gain from its 2022 low and remains well below its 50-day moving average (DMA) line after slumping -39% from its November 2021 record high.

 

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  69.12 +3.15 +4.77% +31.10%
Integrated Oil $XOI  1,590.42 +75.05 +4.95% +34.99%
Semiconductor $SOX  2,649.37 +70.83 +2.75% -32.86%
Networking $NWX  685.18 +12.07 +1.79% -29.44%
Broker/Dealer $XBD  379.87 +8.85 +2.39% -21.98%
Retail $RLX  2,866.40 +46.18 +1.64% -32.18%
Gold & Silver $XAU  122.86 +1.44 +1.18% -7.24%
Bank $BKX  102.49 +1.95 +1.94% -22.49%
Biotech $BTK  4,397.58 +37.82 +0.87% -20.31%


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  
$105.25 -0.81
-0.76%

$109.83

508,180
140.38% of 50 DAV
50 DAV is 362,000
$123.60
-14.85%
5/13/2022 $114.88 PP = $114.57
MB = $120.30
Most Recent Note - 6/21/2022 6:23:43 PM
G - There was a "negative reversal" today and it closed near the session low with a loss on above average volume after briefly trading above its 50 DMA line ($108.44). Found support near its 200 DMA line ($103.42) last week. More damaging losses would be a worrisome sign. A rebound above the 50 DMA line 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  
$297.34 +6.44
2.21%

$299.28

2,820,914
93.38% of 50 DAV
50 DAV is 3,021,000
$324.08
-8.25%
5/16/2022 $302.46 PP = $314.10
MB = $329.81
Most Recent Note - 6/21/2022 6:21:08 PM
G - Posted a gain today with below average volume rebounding near its 50 DMA line ($297.65) which is now downward sloping and may 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