FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - FRIDAY, JANUARY 10TH, 2020

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Indices				NYSE			Nasdaq
DOW	-133.13	28,823.77	-0.46%	Volume	778,590,220	-11%	Volume	2,374,164,360	-5%
NASDAQ	-24.57	9,178.86	-0.27%	Advancers	1,351	47%	Advancers	1,408	44%
S&P 500	-9.35	3,265.35	-0.29%	Decliners	1,517	53%	Decliners	1,769	56%
Russell 2000	-7.34	1,657.64	-0.44%	52 Wk Highs	218		52 Wk Highs	215
S&P 600	-4.95	1,010.84	-0.49%	52 Wk Lows	20		52 Wk Lows	29

Major Indices Pull Back With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow briefly breached the 29,000 level for the first time in early trading, but ultimately finished the session down 133 points to 28,823. The S&P 500 and the Nasdaq Composite both slipped 0.3%. Despite the session’s losses, the major averages ended the week higher. The Dow added 0.7%, while the S&P 500 gained 0.9%. The Nasdaq Composite advanced 1.8% for the week. Decliners led advancers by an 8-7 margin on the NYSE and on the Nasdaq exchange. The reported volume totals were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. There were 69 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 96 on the prior session. New 52-week highs totals easily outnumbered new 52-week lows totals on the NYSE and on the Nasdaq exchange. The major indices (M criteria) are in a "confirmed uptrend" after enduring distributional pressure in recent weeks. The Featured Stocks Page provides the most timely analysis on high-ranked leaders.

Charts used courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average hit a new record high but ended lower.

Stocks retreated from all-time highs on Friday, as investors digested geopolitical updates and the Labor Department’s monthly jobs report. On the data front, U.S. non-farm payrolls rose by 145,000 in December, lower than the projected 160,000 uptick and easing from November’s downwardly revised 256,000 gain. The unemployment rate remained steady at 3.5%, and the annualized wage inflation notched the smallest gain since mid-2018. Treasuries advanced, with the yield on the 10-year note down five basis points to 1.82%. Investors also kept tabs on geopolitical updates, after the White House announced new sanctions on Iran in response to the missile strikes targeting U.S. military bases. In commodities, WTI crude fell 0.9% to $59.04/barrel to cap its worst week since July.

Ten of 11 S&P 500 sectors ended in negative territory, with just the Health Care group bucking the downward trend. In corporate news, KB Homes (KBH -3.24%) fell after the homebuilder’s revenue in the most recent quarter disappointed relative to analysts’ forecasts. Intuitive Surgical (ISRG +2.21%) rose after its preliminary quarterly profit tally exceeded Wall Street expectations. Boeing (BA -1.91%) fell after internal messages surfaced showing workers disapproved of the development of the currently grounded 737 Max planes.

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.

Gold & Silver and Biotech indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Gold & Silver Index ($XAU +1.55%) was a standout gainer. The Biotech Index ($BTK +1.13%) also notched a solid gain while the Semiconductor Index ($SOX -0.66%) and the Networking Index ($NWX -0.84%) both finished in the red. The Oil Services Index ($OSX -0.66%) and the Integrated Oil Index ($XOI -0.63%) posted modest losses. Financial shares had a negative bias as the Broker/Dealer Index ($XBD -0.57%) and the Bank Index ($BKX -1.08%) both fell along with the Retail Index ($RLX -0.55%).

Charts courtesy of www.stockcharts.com

PICTURED: The Oil Services Index ($OSX -0.66%) graph shows it consolidating above its 50-day and 200-day moving average lines which have not converged, unlike the Integrated Oil Index shown on Thursday (see here).

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	77.14	-0.51	-0.66%	-1.47%
Integrated Oil	$XOI	1,273.29	-8.04	-0.63%	+0.22%
Semiconductor	$SOX	1,866.35	-12.38	-0.66%	+0.90%
Networking	$NWX	578.35	-4.89	-0.84%	-0.87%
Broker/Dealer	$XBD	294.42	-1.67	-0.57%	+1.39%
Retail	$RLX	2,479.18	-13.74	-0.55%	+1.22%
Gold & Silver	$XAU	102.25	+1.56	+1.55%	-4.37%
Bank	$BKX	111.14	-1.21	-1.08%	-1.96%
Biotech	$BTK	5,200.73	+58.14	+1.13%	+2.63%

Outlook Hurt by Slump Below 50-Day Moving Average
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

N M I Holdings Inc Cl A (NMIH -$0.08 or -0.25% to $32.02) is still sputtering below its 50-day moving average (DMA) line ($32.66) after damaging volume-driven losses. A rebound above the 50 DMA line would help its outlook improve. Prior highs in the $30-31 area help define the next important near-term support, and that area is currently being tested.

Fundamentals remain strong. NMIH reported earnings +54% on +42% sales revenues for the Sep '19 quarter, and prior quarterly comparisons were also well above the +25% minimum guideline (C criteria). After years of losses it had profitable years for FY '16, '17, and '18.

The Finance - Mortgage & Related Services firm was highlighted in yellow with pivot point cited based on its 6/10/19 high plus 10 cents in the 11/08/19 mid-day report (read here). NMIH was last shown in this FSU section on 12/19/19 with an annotated graph under the headline, "Hit New High But Encountered Distributional Pressure".

The number of top-rated funds owning an interest rose from 388 in Dec '18 to 453 in Sep '19, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.2 is as unbiased indication its shares have been under accumulation over the past 50 days. It has a Timelines Rating of B and Sponsorship Rating of D.

Charts courtesy of 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
MLR - NYSE Miller Industries Inc AUTOMOTIVE - Auto Parts	$35.31	-0.62 -1.73%	$35.85	30,295 70.62% of 50 DAV 50 DAV is 42,900	$38.18 -7.52%	9/24/2019	$34.00	PP = $35.36
								MB = $37.13
Most Recent Note - 1/8/2020 12:49:28 PM G - Consolidating near its 50 DMA line ($36.39) and above prior highs in the $35 area which define important support to watch. Resilient after reporting Sep '19 earnings which were below the fundamental guidelines of the fact-based investment system. >>> FEATURED STOCK ARTICLE : Towing/Recovery Equipment Firm Remains Perched Near Record High - 12/27/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CCBG - NASDAQ Capital City Bk Gp BANKING - Regional - Mid-Atlantic Banks	$29.01	-0.32 -1.09%	$29.37	30,008 65.66% of 50 DAV 50 DAV is 45,700	$30.95 -6.27%	12/16/2019	$30.07	PP = $30.95
								MB = $32.50
Most Recent Note - 1/8/2020 12:47:26 PM Y - Consolidating near its 50 DMA line ($29.58) after meeting resistance at its 52-week high. Subsequent gains and a strong close above the new pivot point cited based on its 11/06/19 high plus 10 cents may trigger a new (or add-on) technical buy signal. Prior low ($28.16 on 12/03/19) defines the next important support level. >>> FEATURED STOCK ARTICLE : Perched Near 52-Week High After Forming an Orderly Base - 1/2/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
FTNT - NASDAQ Fortinet Inc Computer Sftwr-Security	$114.32	-0.16 -0.14%	$115.30	693,179 50.49% of 50 DAV 50 DAV is 1,373,000	$115.78 -1.26%	12/9/2019	$103.85	PP = $106.10
								MB = $111.41
Most Recent Note - 1/6/2020 5:56:39 PM G - Hit a new 52-week high with today's 3rd consecutive gain marked by average volume. Color code is changed to green after wedging above its "max buy" level. Its 50 DMA line ($100.73) and prior low ($99.78 on 12/03/19) define important near-term support to watch. >>> FEATURED STOCK ARTICLE : Endured Distributional Pressure While Perched at High - 12/23/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
SPSC - NASDAQ S P S Commerce Inc COMPUTER SOFTWARE and SERVICES - Application Software	$56.68	+0.46 0.82%	$56.69	122,655 68.41% of 50 DAV 50 DAV is 179,300	$59.14 -4.16%	11/29/2019	$56.59	PP = $59.24
								MB = $62.20
Most Recent Note - 1/8/2020 12:53:23 PM Y - Still perched only -4.9% off its all-time high. Subsequent gains above its pivot point backed by at least +40% above average volume are needed to trigger a new technical buy signal. Fundamentals remain strong, however, its Relative Strength Rating of 79 is just below the 80+ minimum guideline for buy candidates. >>> FEATURED STOCK ARTICLE : Perched Within Close Striking Distance of 52-Week High - 12/20/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AUDC - NASDAQ Audiocodes Ltd ELECTRONICS - Scientific and Technical Instrum	$25.87	+0.37 1.45%	$26.10	135,516 48.92% of 50 DAV 50 DAV is 277,000	$26.68 -3.04%	9/13/2019	$19.68	PP = $19.84
								MB = $20.83
Most Recent Note - 1/6/2020 5:50:56 PM G - Suffered a large loss today with above average volume indicative of distributional pressure. Extended from the previously noted base. Its 50 DMA line ($23.33) defines support above with prior highs in the $22 area. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Large Loss With Higher Volume Indicates Distributional Pressure - 1/6/2020 \| 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
CHDN - NASDAQ Churchill Downs Inc LEISURE - Gaming Activities	$135.77	-1.42 -1.03%	$137.89	156,879 62.50% of 50 DAV 50 DAV is 251,000	$138.17 -1.74%	10/8/2019	$129.77	PP = $132.83
								MB = $139.47
Most Recent Note - 1/6/2020 5:53:44 PM G - Pulled back for a 4th consecutive loss today with lighter volume while still hovering near its 52-week high. Its 50 DMA line ($130.98) defines near-term support above the prior low ($121.81 on 11/07/19) The Jun and Sep '19 quarterly earnings versus the year ago periods were both below the +25% minimum guideline (C criteria) and raised fundamental concerns. >>> FEATURED STOCK ARTICLE : Touched a New HIgh With Gains Backed by Light Volume - 12/30/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
LULU - NASDAQ Lululemon Athletica MANUFACTURING - Textile Manufacturing	$234.84	-1.06 -0.45%	$236.28	1,171,824 57.81% of 50 DAV 50 DAV is 2,027,000	$239.47 -1.93%	9/6/2019	$201.25	PP = $194.35
								MB = $204.07
Most Recent Note - 1/9/2020 5:30:00 PM G - Reversed into the red today after recently wedging to new highs with gains backed by light volume. Very extended from any sound base. Its 50 DMA line and prior low ($218.18 on 12/12/19) define important near-term support to watch. Recently reported earnings +28% on +23% sales revenues for the Oct '19 quarter. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Perched at All-Time High After Gains Lacking Great Volume - 1/9/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CPRT - NASDAQ Copart Inc SPECIALTY RETAIL - Auto Dealerships	$95.31	+0.02 0.02%	$95.69	1,281,268 69.75% of 50 DAV 50 DAV is 1,837,000	$95.89 -0.60%	1/2/2020	$92.80	PP = $92.51
								MB = $97.14
Most Recent Note - 1/7/2020 5:52:57 PM Y - Posted a gain on for a new all-time high on 1/02/20 with +45% above average volume to trigger a proper new (or add-on) technical buy signal, clearing the pivot point cited based on its 11/25/19 high plus 10 cents. Its 50 DMA line ($87.51) defines near-term support. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Perched at All-Time HIgh Following Recent Volume-Driven Gain - 1/7/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NMIH - NASDAQ N M I Holdings Inc Cl A Finance-MrtgandRel Svc	$32.02	-0.08 -0.25%	$32.24	313,523 60.06% of 50 DAV 50 DAV is 522,000	$35.79 -10.53%	11/8/2019	$32.89	PP = $31.44
								MB = $33.01
Most Recent Note - 1/10/2020 5:36:30 PM G - A rebound above the 50 DMA line ($32.77) is needed for its outlook to improve. Prior highs in the $30-31 area define the next important near-term support. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Outlook Hurt by Slump Below 50-Day Moving Average - 1/10/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
SPLK - NASDAQ Splunk Inc Computer Sftwr-Database	$155.78	+1.26 0.82%	$156.84	970,190 48.58% of 50 DAV 50 DAV is 1,997,000	$157.66 -1.19%	11/25/2019	$147.79	PP = $142.16
								MB = $149.27
Most Recent Note - 1/8/2020 5:38:11 PM G - Hit another new high with today's gain backed by average volume, getting more extended from the previously noted base. Prior highs in the $142-143 area define initial support to watch above its 50 DMA line ($138.91) on pullbacks. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : New High Hit With Another Gain on Near Average Volume - 1/8/2020 \| 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
PAYC - NYSE Paycom Software Inc COMPUTER SOFTWARE and SERVICES - Application Software	$285.58	+0.29 0.10%	$288.26	413,433 76.70% of 50 DAV 50 DAV is 539,000	$287.83 -0.78%	11/20/2019	$252.97	PP = $259.81
								MB = $272.80
Most Recent Note - 1/6/2020 6:01:52 PM G - Posted a 4th consecutive gain with light volume. Color code is changed to green after rising above its "max buy" level. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Perched Near High and Near the Max Buy Level - 1/3/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
BLD - NYSE Topbuild Corp Bldg-Constr Prds/Misc	$104.59	-0.34 -0.32%	$105.99	187,217 62.82% of 50 DAV 50 DAV is 298,000	$113.74 -8.04%	12/9/2019	$109.71	PP = $113.84
								MB = $119.53
Most Recent Note - 1/6/2020 5:52:03 PM G - Still quietly lingering below its 50 DMA line. A rebound above its 50 DMA line ($106.11) is needed for its outlook to improve. >>> FEATURED STOCK ARTICLE : Recent Slump Below 50-Day Moving Average Did Technical Damage - 12/24/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
GLOB - NYSE Globant SA Computer-Tech Services	$110.74	-2.51 -2.22%	$114.54	379,512 143.75% of 50 DAV 50 DAV is 264,000	$115.60 -4.20%	11/14/2019	$106.87	PP = $112.43
								MB = $118.05
Most Recent Note - 1/10/2020 1:11:40 PM Y - Loss today with higher volume is indicative of distributional pressure after reaching a new high with gains lacking great volume conviction. Gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal. Its 50 DMA line ($103) defines important near-term support to watch on pullbacks. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Rebound Has Globant Perched Within Striking Distance of High - 12/26/2019 \| 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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