FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - FRIDAY, JANUARY 31ST, 2020

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Indices				NYSE			Nasdaq
DOW	-603.41	28,256.03	-2.09%	Volume	1,319,058,410	+50%	Volume	2,675,116,410	+15%
NASDAQ	-147.99	9,150.94	-1.59%	Advancers	613	21%	Advancers	755	24%
S&P 500	-58.14	3,225.52	-1.77%	Decliners	2,254	79%	Decliners	2,443	76%
Russell 2000	-34.16	1,614.06	-2.07%	52 Wk Highs	159		52 Wk Highs	101
S&P 600	-23.19	979.84	-2.31%	52 Wk Lows	114		52 Wk Lows	126

Major Indices Suffer When Hit With New Distributional Pressure
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow slumped 603 points, to cap a weekly decline of 2.5%. The S&P 500 slipped 1.8% and lost 2.1% for the week. The Nasdaq Composite fell 1.6%, ending the week lower by 1.8%. For the month, the S&P 500 dropped 0.2%, its smallest January price change since 1949. The Dow lost 1.0%, while the Nasdaq Composite gained 2.0%. Decliners led advancers by more than a 3-1 margin on the NYSE and by more than a 4-1 margin on the Nasdaq exchange. The reported volume totals were higher than the prior session totals on the NYSE and on the Nasdaq exchange, indicative of distributional pressure. There were 27 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 40 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs on the Nasdaq exchange. The major indices' (M criteria) uptrend has again come under pressure. Disciplined investors buy individual stocks on a case-by-case basis only if all key criteria are met. 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 violated its 50-day moving average (DMA) line with a big loss on higher volume indicative of distributional pressure or increased selling from the institutional crowd.

Stocks U.S. equities tumbled Friday as investors grappled with the potential economic fallout resulting from the coronavirus. The White House released a statement about the epidemic calling the virus a public health emergency in the U.S.

Ten of 11 S&P 500 sectors finished the session in negative territory. The Energy group led laggards with WTI crude declining 4.7% for the week, adding to a monthly loss of 15.5%. Exxon Mobil (XOM -4.12%) fell after missing analyst earnings estimates. Consumer Discretionary shares bucked the downward trend with Amazon (AMZN +7.38%) surged after blowing past Wall Street earnings projections. Additionally, shares of airline companies declined after Delta Airlines Inc (DAL -2.38%) and American Airlines Group (AAL -3.17%) both suspended all flights between China and the U.S.

Treasuries strengthened amid the perceived “risk-off” mood. The yield on the 10-year note dipped seven basis points to 1.51%, while the yield on the 30-year bond slipped below 2% for the first time since October. On the data front, the core PCE deflator, which is the Fed’s preferred proxy of inflation, increased 1.6% year-over-year in December, while the monthly core figure rose 0.2%. The MNI Chicago PMI, which serves as a gauge of national manufacturing activity, slipped deeper into contractionary territory in January.

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.

Retail and Gold & Silver Index Rose; Tech and Financial Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Broker/Dealer Index ($XBD -2.41%) and Bank Index ($BKX -2.13%) both suffered large losses, meanwhile, the Retail Index ($RLX +2.16%) posted a solid gain to close higher. The Semiconductor Index ($SOX -3.55%), Networking Index ($NWX -2.17%), and the Biotech Index ($BTK -1.30%) lost ground. Energy-linked groups had a negative bias as the Oil Services Index ($OSX -2.64%) and Integrated Oil Index ($XOI -3.25%) both slumped, meanwhile, the Gold & Silver Index ($XAU +0.40%) posted a small gain.

Charts courtesy of www.stockcharts.com

PICTURED: The Bank Index ($BKX -2.13%) has slumped further after violating its 50-day moving average (DMA) line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	62.66	-1.70	-2.64%	-19.96%
Integrated Oil	$XOI	1,115.14	-37.43	-3.25%	-12.23%
Semiconductor	$SOX	1,789.93	-65.87	-3.55%	-3.23%
Networking	$NWX	553.20	-12.29	-2.17%	-5.18%
Broker/Dealer	$XBD	290.26	-7.18	-2.41%	-0.04%
Retail	$RLX	2,506.32	+52.94	+2.16%	+2.33%
Gold & Silver	$XAU	103.94	+0.42	+0.41%	-2.79%
Bank	$BKX	104.75	-2.28	-2.13%	-7.60%
Biotech	$BTK	4,830.27	-63.82	-1.30%	-4.68%

Sputtering Below 50-Day Moving Average Line Hurts Outlook
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

N M I Holdings Inc Cl A (NMIH -0.69 or -2.12% to $31.92) is still sputtering below its 50-day moving average (DMA) line ($33.07) 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 has recently been being tested.

Keep in mind it is due to report earnings news on February 11th. Volume and volatility often increase near earnings news. 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 1/10/20 with an annotated graph under the headline, "Outlook Hurt by Slump Below 50-Day Moving Average".

The number of top-rated funds owning an interest rose from 388 in Dec '18 to 456 in Dec '19, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.0 is as unbiased indication its shares have been neutral concerning accumulation/distribution 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
FTNT - NASDAQ Fortinet Inc Computer Sftwr-Security	$115.36	-2.97 -2.51%	$118.72	2,836,577 255.55% of 50 DAV 50 DAV is 1,110,000	$120.44 -4.22%	12/9/2019	$103.85	PP = $106.10
								MB = $111.41
Most Recent Note - 1/31/2020 5:44:33 PM G - Down today with heavier volume, retreating from its all-time high. Very extended from any sound base. Its 50 DMA line ($109.77) defines important near-term support to watch. >>> FEATURED STOCK ARTICLE : Extended From Base After Wedging Higher - 1/14/2020 \| 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	$56.83	-0.48 -0.84%	$57.59	162,743 92.15% of 50 DAV 50 DAV is 176,600	$59.98 -5.25%	11/29/2019	$56.59	PP = $59.24
								MB = $62.20
Most Recent Note - 1/28/2020 5:50:20 PM Y - Holding its ground stubbornly perched near its all-time high with no resistance remaining. 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. Its Relative Strength Rating of 79 is just below the 80+ minimum guideline for buy candidates. >>> FEATURED STOCK ARTICLE : Still Lingering Below Prior Resistance - 1/13/2020 \| 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	$21.44	-1.61 -6.98%	$23.00	609,042 198.39% of 50 DAV 50 DAV is 307,000	$28.73 -25.37%	9/13/2019	$19.68	PP = $19.84
								MB = $20.83
Most Recent Note - 1/31/2020 5:42:20 PM G - Suffered another volume-driven loss today. A subsequent rebound above its 50 DMA line ($25.07) is needed for its outlook to improve after damaging volume-driven losses triggered technical sell signals. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Showed Resilience With Close in Upper Third of Intra-day Range - 1/27/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CHDN - NASDAQ Churchill Downs Inc LEISURE - Gaming Activities	$144.38	-2.26 -1.54%	$146.90	314,032 145.39% of 50 DAV 50 DAV is 216,000	$146.87 -1.70%	10/8/2019	$129.77	PP = $132.83
								MB = $139.47
Most Recent Note - 1/27/2020 5:28:35 PM G - Stubbornly holding its ground near its 52-week high following recent gains with light volume. Its 50 DMA line ($134) defines near-term support above the prior low ($132.55 on 1/03/19) 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 : Reversal From High Following 5 Gains With Light Volume - 1/21/2020 \| 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	$239.39	-4.38 -1.80%	$243.58	1,362,309 70.55% of 50 DAV 50 DAV is 1,931,000	$247.51 -3.28%	9/6/2019	$201.25	PP = $194.35
								MB = $204.07
Most Recent Note - 1/30/2020 5:36:36 PM G - Extended from any sound base and hovering near its all-time high with volume totals cooling. Its 50 DMA line ($231) and prior low ($218.18 on 12/12/19) define important near-term support to watch. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Hovering Near All-Time High - 1/30/2020 \| 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
CPRT - NASDAQ Copart Inc SPECIALTY RETAIL - Auto Dealerships	$101.46	-0.89 -0.87%	$104.00	1,365,882 75.30% of 50 DAV 50 DAV is 1,814,000	$102.43 -0.95%	1/2/2020	$92.80	PP = $92.51
								MB = $97.14
Most Recent Note - 1/28/2020 5:47:24 PM G - Quietly touched a new all-time high today. Color code was changed to green after wedging above its "max buy" level with gains marked by below average volume. Its 50 DMA line ($91.64) defines near-term support coinciding with prior highs in the $91-92 area. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : New High With Yet Another Gain Backed by Light Volume - 1/28/2020 \| 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	$31.92	-0.69 -2.12%	$32.66	476,486 97.04% of 50 DAV 50 DAV is 491,000	$35.79 -10.81%	11/8/2019	$32.89	PP = $31.44
								MB = $33.01
Most Recent Note - 1/31/2020 5:40:39 PM G - Still sputtering and a rebound above the 50 DMA line ($33.07) is needed for its outlook to improve. Testing prior highs in the $31 area which are the next important near-term support line. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Sputtering Below 50-Day Moving Average Line Hurts Outlook - 1/31/2020 \| 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	$155.26	-3.43 -2.16%	$159.55	1,159,343 58.23% of 50 DAV 50 DAV is 1,991,000	$161.49 -3.86%	11/25/2019	$147.79	PP = $142.16
								MB = $149.27
Most Recent Note - 1/29/2020 6:14:15 PM G - Volume totals have been cooling while consolidating and it is extended from the previously noted base. Its 50 DMA line ($148.54) and prior highs in the $142-143 area define important support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Hovering Near All-Time High - 1/29/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
PAYC - NYSE Paycom Software Inc COMPUTER SOFTWARE and SERVICES - Application Software	$318.16	-7.46 -2.29%	$324.00	868,241 108.53% of 50 DAV 50 DAV is 800,000	$325.76 -2.33%	11/20/2019	$252.97	PP = $259.81
								MB = $272.80
Most Recent Note - 1/27/2020 12:33:57 PM G - Gapped up on 1/23/20 hitting a new all-time high, and it has been stubbornly holding its ground after getting extended from any sound base. Its prior high ($279.95 on 11/27/19) and its 50 DMA line ($271) define important near-term support levels to watch. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Gapped Up for New High But Ended Near Session Low - 1/23/2020 \| 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	$114.51	-3.74 -3.16%	$118.58	273,035 98.57% of 50 DAV 50 DAV is 277,000	$119.99 -4.57%	12/9/2019	$109.71	PP = $113.84
								MB = $119.53
Most Recent Note - 1/31/2020 5:43:24 PM Y - Consolidating near its 52-week high following volume-driven gains. Prior high ($113.74) defines near-term support above its 50 DMA line ($108.33). >>> FEATURED STOCK ARTICLE : Fifth Consecutive Gain Leaves TopBuild Near 52-Week High - 1/17/2020 \| 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
TEAM - NASDAQ Atlassian Corp Plc Cl A Comp Sftwr-Spec Enterprs	$147.00	-2.58 -1.72%	$149.79	971,802 62.98% of 50 DAV 50 DAV is 1,543,000	$151.87 -3.21%	1/24/2020	$144.66	PP = $140.49
								MB = $147.51
Most Recent Note - 1/28/2020 12:50:26 PM Y - Poised for a best-ever close with today's early gain. Gapped up and touched a new all-time high on the prior session, rising from a cup-with-handle base pattern with volume +514% above average behind the considerable gain triggering a technical buy signal. Bullish action came after it reported earnings +48% on +37% sales revenues for the Dec '19 quarter. Fundamentals remained strong while it went through a deep consolidation below its 200 DMA line since dropped from the Featured Stocks list on 9/09/19. >>> FEATURED STOCK ARTICLE : Gapped Up Today Following Another Strong Earnings Report - 1/24/2020 \| 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	$122.70	-4.90 -3.84%	$127.40	284,602 100.92% of 50 DAV 50 DAV is 282,000	$131.00 -6.34%	11/14/2019	$106.87	PP = $112.43
								MB = $118.05
Most Recent Note - 1/31/2020 5:46:09 PM G - Pulling back this week after wedging to new highs with recent gains lacking great volume conviction. Its prior high ($112.33) and 50 DMA line ($109.36) define important near-term support to watch. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Gain for New High Today Backed by Only +12% Above Average Volume - 1/15/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
STNE - NASDAQ Stoneco Ltd Cl A Finance-CrdtCard/PmtPr	$43.44	-0.86 -1.94%	$44.20	1,714,902 84.94% of 50 DAV 50 DAV is 2,019,000	$45.62 -4.78%	1/22/2020	$43.94	PP = $45.72
								MB = $48.01
Most Recent Note - 1/27/2020 5:19:55 PM Y - Gapped down today abruptly retreating from near its 52-week high and testing its 50 DMA line ($39.71). More damaging losses would raise concerns. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a technical buy signal. >>> FEATURED STOCK ARTICLE : Perched Near High With Best-Ever Close After Volume-Driven Gain - 1/22/2020 \| 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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