FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - MONDAY, JANUARY 4TH, 2016

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Indices				NYSE			Nasdaq
DOW	-276.09	17,148.94	-1.58%	Volume	1,080,438,430	+47%	Volume	1,998,183,090	+52%
NASDAQ	-104.32	4,903.09	-2.08%	Advancers	981	32%	Advancers	653	22%
S&P 500	-31.28	2,012.66	-1.53%	Decliners	2,113	68%	Decliners	2,380	78%
Russell 2000	-27.26	1,108.62	-2.40%	52 Wk Highs	51		52 Wk Highs	14
S&P 600	-15.96	655.78	-2.38%	52 Wk Lows	142		52 Wk Lows	135

Indices Dive as Stocks Continue Prior Correction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks retreated on Monday. The Dow tumbled 276 points to 17148. The S&P 500 fell 31 points to 2012. The NASDAQ lost 104 points to 4903. Volume totals were up from the prior session on the NYSE and on the Nasdaq exchange, a sign of distributional pressure. Breadth was negative as decliners led advancers by a 2-1 margin on the NYSE and by more than 3-1 on the Nasdaq exchange. Leadership was elusive as there was only 1 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, down from 7 on the prior session. There were losses for all 7 of the high-ranked companies currently on the Featured Stocks Page. New 52-week lows swelled and solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange.

Charts used courtesy of www.stockcharts.com

PICTURED: The Nasdaq Composite Index gapped down and its early losses violated the prior low. It ended near the session high with a big loss on higher volume. It and the other major indices have unanimously slumped back below their respective 50-day and 200-day moving average (DMA) lines.

New leadership (stocks hitting new highs) has waned again. The major averages (M criteria) failed to maintain the recent rally and a deeper correction appears to be at hand. It will be critical for new leadership to emerge for any meaningful rally to resume in 2016.

The S&P 500 posted its sharpest inaugural trading session since 2001 amid heightened international uncertainty. After disappointing manufacturing PMI numbers, China’s Shanghai composite fell 7% overnight, triggering a newly installed circuit breaker that closed the index for the remainder of the day. Adding to the uncertainty was news that Saudi Arabia and Iran cut diplomatic ties over the weekend.

On the data front, December’s ISM manufacturing reading came in at 48.2, below projections of 49.0. In a separate release, Markit’s manufacturing gauge for December was revised to 51.2 from a previously reported 51.3. In M&A news, Baxalta (BXLT +5.48%) rose on reports that Shire PLC (SHPG -3.28%) raised its takeover offer for the drug maker. Tesla (TSLA -6.9%2) fell after hitting the low end of guidance for fourth quarter vehicle deliveries.

All ten sectors in the S&P 500 declined on Monday. Financial stocks lead the losses while energy shares were most resilient. Bank of America (BAC -2.38%) fell, meanwhile Apple (AAPL +0.09%) erased a big early loss to finish flat.

Treasuries gained strength amid the selloff in risk assets. The benchmark 10-year note climbed 9/32 to yield 2.24%. In commodities, NYMEX WTI crude reversed early gains and declined 0.5% to $36.86/barrel in a volatile session. COMEX gold added 1.3% to $1074.20/ounce.

The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.

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 Rose Amid Broader Group Weakness
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Monday the Retail Index ($RLX-2.14%) fell and the Bank Index ($BKX-2.43%) and Broker/Dealer Index ($XBD -2.07%) also had a negative influence on the major averages. The Oil Services Index ($OSX +1.22%) and the Gold & Silver Index ($XAU +2.45%) both were higher while the Integrated Oil Index ($XOI -0.78%) fell. Rounding out the mostly negative session, the Biotechnology Index ($BTK -2.71%), Networking Index ($NWX -1.03%) and Semiconductor Index ($SOX -1.09%) ended unanimously lower.

Charts courtesy www.stockcharts.com

PICTURED: The Biotechnology Index ($BTK -2.71%) gapped down and fell near its 50-day moving average (DMA) line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	159.65	+1.92	+1.22%	+1.22%
Integrated Oil	$XOI	1,064.31	-8.40	-0.78%	-0.78%
Semiconductor	$SOX	656.28	-7.20	-1.09%	-1.09%
Networking	$NWX	371.62	-3.86	-1.03%	-1.15%
Broker/Dealer	$XBD	174.40	-3.68	-2.07%	-2.07%
Retail	$RLX	1,256.00	-27.47	-2.14%	-2.14%
Gold & Silver	$XAU	46.40	+1.10	+2.43%	+2.43%
Bank	$BKX	71.31	-1.77	-2.42%	-2.42%
Biotech	$BTK	3,710.75	-103.21	-2.71%	-2.71%

Gap Down Today Testing Near-Term Support at Prior Lows
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Ultimate Software Group (ULTI -$7.17 or -3.67% to $188.34) gapped down today after meeting resistance at its 50-day moving average (DMA) line while trying to rebound. A rally back above the 50 DMA line is needed for its outlook to improve. ULTI was last shown in this FSU section on 12/21/15 with an annotated graph under the headline, "Slumped Back Below 50-Day Moving Average Line Raising Concerns". It was then noted - "Subsequent deterioration below recent lows ($188) would raise greater concerns."

Following its breakout with powerful volume in late October it soon stalled. It was highlighted in yellow with pivot point cited based on its 8/17/15 high plus 10 cents in the 10/28/15 mid-day report (read here). The strong close above the pivot point had clinched a technical buy signal.

ULTI reported earnings +38% on +22% sales revenues for the Sep '15 quarter. In 7 of the past 8 quarterly comparisons it showed earnings increases above the +25% minimum guideline (C criteria). Earnings rose +47%, +35%, +25%, +26%, +11%, +35%, and +38% in the Mar, Jun, Sep, Dec '14, Mar, Jun and Sep '15 quarters, respectively. Sales revenues rose +24%, +25%, +24%, +21%, +20%, +21%, and +22% during the same span. Annual earnings (A criteria) history has been strong and steady.

The number of top-rated funds owning its shares rose from 497 in Dec '14 to 524 in Sep '15, a reassuring sign (I criteria). Its small supply (S criteria) of only 28.7 million shares outstanding can contribute to greater volatility in the event of institutional buying or selling. Its current Up/Down Volume Ratio of 0.9 its an unbiased indication its shares have been under slight distributional pressure over the past 50 days.

Charts courtesy www.stockcharts.com

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
SFNC - NASDAQ Simmons First Natl Cp A BANKING - Regional - Southeast Banks	$50.07	-1.29 -2.51%	$51.04	174,248 94.70% of 50 DAV 50 DAV is 184,000	$58.75 -14.77%	10/22/2015	$50.13	PP = $48.98
								MB = $51.43
Most Recent Note - 1/4/2016 6:49:07 PM Slumped further below its 50 DMA line today with higher volume behind another damaging loss. The longer it lingers below that important short-term average the worse its outlook gets. Due to technical deterioration it will be dropped from the Featured Stocks list tonight. >>> FEATURED STOCK ARTICLE : Slide Below Prior Lows and 50-Day Average Raised More Serious Concerns - 12/22/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
HAWK - NASDAQ Blackhawk Network Inc DIVERSIFIED SERVICES - Business/Management Services	$42.60	-1.61 -3.64%	$43.56	590,169 140.85% of 50 DAV 50 DAV is 419,000	$48.40 -11.98%	11/25/2015	$47.63	PP = $47.07
								MB = $49.42
Most Recent Note - 12/30/2015 5:30:21 PM G - Sputtering near its 50 DMA line which acted as support after damaging losses on volume triggered a technical sell signal. Disciplined investors will note that a proper buy signal was not triggered since first featured in yellow in the 11/25/15 mid-day report. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Still Sputtering Near 50-Day Moving Average Line - 12/30/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
STMP - NASDAQ Stamps.com Inc INTERNET - Internet Software and Services	$107.32	-2.29 -2.09%	$108.14	441,645 128.39% of 50 DAV 50 DAV is 344,000	$114.26 -6.07%	11/6/2015	$100.75	PP = $88.97
								MB = $93.42
Most Recent Note - 1/4/2016 6:51:13 PM G - Gapped down for a loss on higher volume today while pulling back from its 52-week high. Its 50 DMA line ($97.25) defines near-term support to watch. >>> FEATURED STOCK ARTICLE : Consolidation Was Brief Following Prior Breakaway Gap - 12/28/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
ULTI - NASDAQ Ultimate Software Group INTERNET - Internet Software and Services	$188.34	-7.17 -3.67%	$192.24	303,417 118.06% of 50 DAV 50 DAV is 257,000	$216.27 -12.91%	10/28/2015	$204.38	PP = $195.28
								MB = $205.04
Most Recent Note - 1/4/2016 6:54:16 PM G - Gapped down today and sank further below its 50 DMA line, trading near recent lows ($188). More damaging losses would raise greater concerns, meanwhile a rebound above FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Gap Down Today Testing Near-Term Support at Prior Lows - 1/4/2016 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
LXFT - NYSE Luxoft Holding Inc Cl A Comp Sftwr-Spec Enterprs	$71.36	-5.77 -7.48%	$76.98	455,987 191.59% of 50 DAV 50 DAV is 238,000	$80.64 -11.51%	10/22/2015	$66.65	PP = $68.95
								MB = $72.40
Most Recent Note - 1/4/2016 6:46:03 PM G - Gapped down today and violated its 50 DMA line with a big and damaging volume-driven loss triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Still Consolidating Above 50-Day Moving Average Line - 12/31/2015 \| 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
PANW - NYSE Palo Alto Networks Computer Sftwr-Security	$171.52	-4.62 -2.62%	$173.76	1,972,519 122.21% of 50 DAV 50 DAV is 1,614,000	$200.55 -14.48%	12/14/2015	$179.20	PP = $200.65
								MB = $210.68
Most Recent Note - 12/29/2015 10:53:28 PM Y - Halted its slide at its 50 DMA line today after a streak of losses. Since featured in the 12/14/15 mid-day report it has not produced the volume-driven gains for new highs needed to trigger a new technical buy signal. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Halted Slide at 50-Day Moving Average - 12/29/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
VBTX - NASDAQ Veritex Holdings Inc BANKING - Regional - Southwest Banks	$16.03	-0.18 -1.11%	$16.28	59,910 315.32% of 50 DAV 50 DAV is 19,000	$17.95 -10.70%	11/4/2015	$17.00	PP = $18.05
								MB = $18.95
Most Recent Note - 1/4/2016 1:18:49 PM G - Sputtering near recent lows and its 200 DMA line noted as defining important near-term support in the $15.50 area where subsequent violations would raise greater concerns. The 50 DMA line acted as resistance recently, and a rebound above that important short-term average is needed for its outlook to improve. >>> FEATURED STOCK ARTICLE : 50-Day Moving Average Acted as Resistance After 200 DMA Test - 12/24/2015 \| 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.

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