FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - THURSDAY, JULY 14TH, 2022

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Indices				NYSE			Nasdaq
DOW	-142.62	30,630.17	-0.46%	Volume	904,371,635	+5%	Volume	4,429,850,500	+1%
NASDAQ	+3.60	11,251.19	+0.03%	Advancers	798	26%	Advancers	1,433	33%
S&P 500	-11.40	3,790.38	-0.30%	Decliners	2,284	74%	Decliners	2,845	66%
Russell 2000	-18.53	1,707.51	-1.07%	52 Wk Highs	3		52 Wk Highs	17
S&P 600	-9.95	1,113.73	-0.89%	52 Wk Lows	379		52 Wk Lows	447

Indices Continue Slump Toward Prior Lows With Higher Volume Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow lost 142 points, while the S&P 500 eased 0.3%, with both benchmarks falling for a fifth straight session. The Nasdaq Composite closed just above the flat line. Volume totals reported were higher than the prior session on the NYSE and higher on the Nasdaq exchange, indicative of more distributional pressure or selling from the institutional crowd. Decliners led advancers by almost a 3-1 margin on the NYSE and by a 2-1 margin on the Nasdaq exchange. There was 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 expanded and outnumbered shrinking new 52-week highs totals on the NYSE and on the Nasdaq exchange. The brief new market uptrend is already under pressure (M criteria). Any sustainable rally requires a healthy crop of leading stocks hitting new highs, but leadership has been very thin.

Chart courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average fell toward the recent low with higher volume behind its 5th consecutive loss.

U.S. stocks finished mostly lower Thursday, though the major averages recovered from their worst levels as investors recalibrated their expectations for the trajectory of the Federal Reserve’s (Fed) monetary policy tightening. Treasuries fluctuated, with the yield on the 10-year note up five basis points (0.05%) to 2.96%. Meanwhile, the two-year note yield held steady at 3.13%. Notably, the gap between the two yields is the most negative since 2000.

Another update on inflation reinforced expectations for an aggressive rate hike at the Fed’s upcoming July 26-27 policy meeting. The Producer Price Index (PPI) climbed 1.1% in June, surpassing expectations and also rising from the prior 0.9% increase. However the 8.2% annual advance in core PPI (ex-food and energy) was the smallest since November. Market participants also weighed separate comments from Fed Governor Waller and St. Louis Fed President Bullard (voter) who both reiterated calls for a 75 basis point (0.75%) interest rate increase in July. Market pricing for a 100 basis point (1.00%) rate hike in July fell from a nearly 90% probability to around 40% on the heels of their comments.

Meanwhile, earnings from some of Wall Street’s biggest banks weighed on sentiment. JPMorgan Chase & Co. (JPM -3.49%) slid after its profit and revenue fell below estimates. The bank said it would pause its share buybacks and noted an increase in its reserves for bad loans amid a high level of economic uncertainty. Elsewhere, Morgan Stanley (MS -0.39%) fell after reporting disappointing results.

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.

Commodity-Linked Groups and Financial Indexes Led Pullback
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Financial shares had a negative bias as the Bank Index ($BKX -2.01%) and Broker/Dealer Index ($XBD -1.48%) both lost ground, weighing on the major averages. Commodity-linked groups had a negative bias as the Gold & Silver Index ($XAU -4.46%), Oil Services Index ($OSX -3.62%), and Integrated Oil Index ($XOI -2.49%) suffered unanimous losses. The tech sector was mixed as the Semiconductor Index ($SOX +1.92%) posted a solid gain, meanwhile the Networking Index ($NWX -0.77%) edged lower and the Biotech Index ($BTK -1.82%) slumped for a larger loss. The Retail Index ($RLX +0.29%) eked out a small gain.

Chart courtesy of www.stockcharts.com

PICTURED: The Networking Index ($NWX -0.77%) has been below its 50-day moving average (line) since April and remains sputtering near the prior lows.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	57.60	-2.16	-3.62%	+9.25%
Integrated Oil	$XOI	1,369.28	-35.02	-2.49%	+16.22%
Semiconductor	$SOX	2,626.92	+49.55	+1.92%	-33.43%
Networking	$NWX	679.94	-5.28	-0.77%	-29.98%
Broker/Dealer	$XBD	384.02	-5.75	-1.48%	-21.12%
Retail	$RLX	2,966.49	+8.44	+0.29%	-29.81%
Gold & Silver	$XAU	103.44	-4.83	-4.46%	-21.91%
Bank	$BKX	98.36	-2.02	-2.01%	-25.61%
Biotech	$BTK	4,686.37	-87.05	-1.82%	-15.08%

Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

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
LLY - NYSE Eli Lilly & Co Medical-Diversified	$326.89	+4.43 1.37%	$327.76	1,885,699 62.75% of 50 DAV 50 DAV is 3,005,000	$334.52 -2.28%	5/16/2022	$302.46	PP = $314.10
								MB = $329.81
Most Recent Note - 7/14/2022 4:02:10 PM Y - Managed a "positive reversal" today while quietly consolidating, holding its ground with light volume totals in recent weeks. Its 50 DMA line ($306.85) defines near-term support above prior lows. >>> FEATURED STOCK ARTICLE : Lilly Quietly Wedged to a New All-Time High This Week - 7/8/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
IMXI - NASDAQ International Money Exp Financial Svcs-Specialty	$21.34	-0.57 -2.60%	$21.74	343,488 84.60% of 50 DAV 50 DAV is 406,000	$22.94 -6.97%	7/1/2022	$21.27	PP = $21.38
								MB = $22.45
Most Recent Note - 7/14/2022 3:54:07 PM Y - Encountered distributional pressure near the 52-week high. Its 50 DMA line ($20.29) defines important near-term support to watch. Fundamentals through the Mar '22 quarter have been strong. >>> FEATURED STOCK ARTICLE : Volume Heavy While Rallying from Double Bottom Base - 7/1/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
HRMY - NASDAQ Harmony Biosciences Hldg Medical-Biomed/Biotech	$52.97	-0.96 -1.78%	$54.06	346,484 65.13% of 50 DAV 50 DAV is 532,000	$57.13 -7.28%	7/6/2022	$54.12	PP = $52.85
								MB = $55.49
Most Recent Note - 7/14/2022 3:52:04 PM Y - Pulled back with lighter volume behind today's 5th consecutive loss as consolidates near its high after triggering a technical buy signal. Prior highs in the $52-54 area define initial support to watch on pullbacks. Reported strong sales revenues and earnings increases in quarterly comparisons through Mar '22 versus the year ago periods. Annual earnings history is limited. Completed its $24 IPO on 8/19/20. >>> FEATURED STOCK ARTICLE : Volume-Driven Breakout For Biotech Firm - 7/6/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CI - NYSE Cigna Corp Medical-Managed Care	$264.91	-8.84 -3.23%	$266.82	2,223,798 116.00% of 50 DAV 50 DAV is 1,917,000	$282.33 -6.17%	7/7/2022	$276.55	PP = $273.68
								MB = $287.36
Most Recent Note - 7/14/2022 3:50:59 PM Y - Gapped down today undercutting prior highs in the $273 area raising concerns, retreating from its all-time high hit this week. Finished in the upper half of its intra-day range after testing support near its 50 DMA line ($261.9). More damaging losses would raise greater concerns. >>> FEATURED STOCK ARTICLE : Volume-Driven Breakout for Cigna Corp - 7/7/2022 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I

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