FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Thursday, February 27th, 2020

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AFTER MARKET UPDATE - THURSDAY, FEBRUARY 27TH, 2020

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Indices				NYSE			Nasdaq
DOW	-1,190.95	25,766.64	-4.42%	Volume	1,761,983,590	+34%	Volume	4,509,149,100	+27%
NASDAQ	-414.29	8,566.48	-4.61%	Advancers	302	11%	Advancers	492	15%
S&P 500	-137.63	2,978.76	-4.42%	Decliners	2,494	89%	Decliners	2,732	85%
Russell 2000	-54.89	1,497.87	-3.54%	52 Wk Highs	22		52 Wk Highs	56
S&P 600	-35.19	899.84	-3.76%	52 Wk Lows	696		52 Wk Lows	563

TODAY'S SPECIAL NOTICE

During market corrections it is especially important to reduce exposure, preserve your capital, and just be patient. Be safe!

Disciplined investors know to wait until a new confirmed rally marked by a solid follow-through day. The bold portion of the daily market commentary will note when that happens. For any clarification or additional help applying the fact-based investment system, we invite members to call, or contact us via the inquiry form.

Market Correction Intensifies as Technical Damage Grows
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow slumped 1190 points, on its largest single day point drop in history. The S&P 500 retreated 4.4%, falling below its 200-day moving average level. The Nasdaq Composite shed 4.6%. Breadth was clearly negative as decliners led advancers by an 8-1 margin on the NYSE and by more than 5-1 on the Nasdaq exchange. The reported volume totals were much higher than the prior session totals on the NYSE and on the Nasdaq exchange, indicative of increasing distributional pressure or selling from the institutional crowd. Leadership was thin as there were only 5 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, down from the 139 on last Wednesday's session. New 52-week lows totals swelled and easily outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The major indices' (M criteria) have come under heavier pressure and earned the label of a "market correction". Disciplined investors know to watch for technical sell signals on a case-by-case basis and stand ready to reduce exposure especially if the market suffers more damaging losses. The Featured Stocks Page provides the most timely analysis on high-ranked leaders.

Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index is -12.2% off its all-time high after a 6th consecutive damaging loss marked by heavier volume. It has violated its 50-day and 200-day moving average (DMA) lines.

U.S. stocks tumbled into correction territory on Thursday, and Treasury yields fell to historic lows after the CDC reported the first U.S. coronavirus case of unknown origin. Health officials revealed that the patient had no known ties to an existing outbreak, raising concerns that an outbreak within the U.S. could dent economic activity. Following the worst session since August 2011 for equities, all three major averages are now in correction territory, which is marked by a 10% decline below their record highs.

The perceived “risk-off” mood helped extend a recent rally in Treasuries. The yield on the benchmark 10-year note sank six basis points to a record low of 1.28%, while the yield on the 30-year bond reached an all-time low of 1.78%. On the data front, the second print of U.S. fourth-quarter GDP was unrevised at 2.1%. Initial jobless claims rose to 219,000 in the most recent week, while pending home sales in January jumped to the highest level since 2010.

All 11 S&P 500 sectors fell more than 3% in today’s session. Energy and Real Estate stocks led laggards with each declining more than 5%. Technology stocks also underperformed, with Microsoft (MSFT -7.05%) down after warning that supply chain disruptions related to the coronavirus will prevent the Tech giant from meeting its projections in the personal computing segment. In commodities, WTI crude fell 4.3% to $46.67/barrel, while COMEX gold slipped 0.1% to $1,641.70/ounce.

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.

Financial, Retail, Tech, and Commodity-Linked Groups Tumbled
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Bank Index ($BKX -4.21%), Broker/Dealer Index ($XBD -2.99%), and the Retail Index ($RLX -4.34%) each ended solidly lower. The tech sector had a negative bias as the Networking Index ($NWX -3.18%), Biotech Index ($BTK -3.56%), and Semiconductor Index ($SOX -4.65%) suffered unanimous losses. Commodity-linked groups were also hit hard as the Oil Services Index ($OSX -5.42%), Integrated Oil Index ($XOI -5.14%), and Gold & Silver Index ($XAU -7.00%) all lost considerable ground.

Charts courtesy of www.stockcharts.com

PICTURED: The Retail Index ($RLX -4.34%) has abruptly retreated from its record high and violated its 50-day and 200-day moving average (DMA) lines during a streak of 5 consecutive damaging losses.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	50.77	-2.91	-5.42%	-35.15%
Integrated Oil	$XOI	940.08	-50.97	-5.14%	-26.01%
Semiconductor	$SOX	1,668.65	-81.30	-4.65%	-9.78%
Networking	$NWX	493.55	-16.21	-3.18%	-15.40%
Broker/Dealer	$XBD	271.39	-8.37	-2.99%	-6.54%
Retail	$RLX	2,386.38	-108.17	-4.34%	-2.57%
Gold & Silver	$XAU	99.83	-7.52	-7.01%	-6.63%
Bank	$BKX	93.92	-4.12	-4.20%	-17.15%
Biotech	$BTK	4,818.41	-177.63	-3.56%	-4.91%

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

Topbuild Corp (BLD -$2.34 or -2.15% to $106.36) violated its 50-day moving average (DMA) line ($111) triggering a technical sell signal during a streak of 5 consecutive volume-driven losses. Only a prompt rebound above the 50 DMA line would help its outlook improve.

It reported earnings were +23% on +3% sales revenues for the Dec '19 quarter versus the year ago period, its second quarterly comparison just below the +25% minimum guideline (C criteria). Still, it has a 99 Earnings Per Share Rating. Its annual earnings (A criteria) history has also been strong and steady since turning profitable in FY '14.

BLD was last shown in this FSU section on 2/06/20 with an annotated graph under the headline, "Volume Totals Cooling While Consolidating Near All-Time High". It traded up as much as +52.9% since first highlighted in yellow with new pivot point cited based on its 8/12/18 high plus 10 cents in the 5/17/19 mid-day report (read here).

The number of top-rated funds owning its shares rose from 380 in Dec '18 to 525 in Dec '19. Its current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A, but it still has a Sponsorship Rating of D.

Charts used 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	$102.64	-3.62 -3.41%	$106.53	3,545,991 291.85% of 50 DAV 50 DAV is 1,215,000	$121.82 -15.74%	12/9/2019	$103.85	PP = $106.10
								MB = $111.41
Most Recent Note - 2/27/2020 5:21:30 PM G - Suffered another damaging loss on higher volume today, slumping further after a gap down on 2/24/20 triggering technical sell signals. A rebound above the 50 DMA line ($113.86) is needed for its outlook to improve.Reported earnings +29% on +21% sales revenues for the Dec '19 quarter, continuing its strong earnings track record above the +25% minimum guideline (C criteria). See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Volume Driven Losses Violated 50-Day Moving Average - 2/26/2020 \| 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	$52.69	-1.75 -3.21%	$54.23	234,986 141.47% of 50 DAV 50 DAV is 166,100	$62.26 -15.37%	11/29/2019	$56.59	PP = $59.24
								MB = $62.20
Most Recent Note - 2/27/2020 5:13:44 PM It will be dropped from the Featured Stocks list tonight. Violated its 200 DMA line ($53.05). Its current Relative Strength Rating of 56 is below the 80+ minimum guideline for buy candidates. >>> FEATURED STOCK ARTICLE : 4 Damaging Losses Followed Recent Technical Breakout - 2/24/2020 \| 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	$22.22	-1.80 -7.49%	$23.18	458,353 126.27% of 50 DAV 50 DAV is 363,000	$28.73 -22.66%	9/13/2019	$19.68	PP = $19.84
								MB = $20.83
Most Recent Note - 2/27/2020 4:58:50 PM It will be dropped from the Featured Stocks list tonight. Gapped down today for a 4th consecutive loss. Met resistance at its 50 DMA line ($24.91) while trying to rebound. Faces resistance due to overhead supply up to the $28 level. Fundamentals remain strong after it reported earnings +30% on +15% sales revenues for the Dec '19 quarter. >>> FEATURED STOCK ARTICLE : Rebounding After Damaging Losses Triggered Sell Signals - 2/14/2020 \| 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	$138.86	-6.58 -4.52%	$143.83	725,639 353.97% of 50 DAV 50 DAV is 205,000	$167.53 -17.11%	10/8/2019	$129.77	PP = $132.83
								MB = $139.47
Most Recent Note - 2/27/2020 5:09:17 PM G - Violated its 50 DMA line ($144) with heavier volume behind today's 6th consecutive loss triggering a technical sell signal. A rebound above the 50 DMA line is needed for its outlook to improve. Reported Dec '19 earnings +100% on +28% sales revenues, and improvement after the Jun and Sep '19 quarterly earnings versus the year ago periods were both below the +25% minimum guideline (C criteria). >>> FEATURED STOCK ARTICLE : Perched at New Record High After Recent Gains on Average Volume - 2/7/2020 \| 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	$220.70	-17.86 -7.49%	$232.48	2,806,861 184.91% of 50 DAV 50 DAV is 1,518,000	$266.20 -17.09%	9/6/2019	$201.25	PP = $194.35
								MB = $204.07
Most Recent Note - 2/27/2020 5:04:30 PM G - Gapped down today and suffered a big loss on heavy volume violating its 50 DMA line ($240) and prior low ($231.84 on 1/27/20) triggering technical sell signals. Only a prompt rebound would help its outlook improve. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Perched at Record High After 4th Consecutive Gain on Light Volume - 2/20/2020 \| 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
SPLK - NASDAQ Splunk Inc Computer Sftwr-Database	$146.87	-9.64 -6.16%	$153.97	2,769,959 181.99% of 50 DAV 50 DAV is 1,522,000	$176.31 -16.70%	11/25/2019	$147.79	PP = $142.16
								MB = $149.27
Most Recent Note - 2/27/2020 5:18:32 PM G - Violated its 50 DMA line ($157.76) with a damaging volume-driven loss raising concerns and triggering a more worrisome technical sell signal. Only a prompt rebound would help its outlook improve. >>> FEATURED STOCK ARTICLE : Perched at Record High After 7th Consecutive Gain - 2/19/2020 \| 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	$281.36	-10.56 -3.62%	$293.57	854,834 91.92% of 50 DAV 50 DAV is 930,000	$342.00 -17.73%	11/20/2019	$252.97	PP = $259.81
								MB = $272.80
Most Recent Note - 2/27/2020 5:06:29 PM G - Slumped below its 50 DMA line ($292) with today's loss on average volume raising concerns and triggering a technical sell signal. Only a prompt rebound would help its outlook improve. Fundamentals remain strong after it reported earnings +41% on +29% for the Dec '19 quarter. >>> FEATURED STOCK ARTICLE : Pulled Back Near 50-Day Average Following Strong Earnings Report - 2/11/2020 \| 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	$106.36	-2.34 -2.15%	$110.61	511,713 165.60% of 50 DAV 50 DAV is 309,000	$125.66 -15.36%	12/9/2019	$109.71	PP = $113.84
								MB = $119.53
Most Recent Note - 2/27/2020 5:23:10 PM G - Violated its 50 DMA line ($111) triggering a technical sell signal during a streak of 5 consecutive volume-driven losses. Only a prompt rebound above the 50 DMA line would help its outlook improve. >>> FEATURED STOCK ARTICLE : 50-Day Moving Average Violation Has Hurt Outlook - 2/27/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TEAM - NASDAQ Atlassian Corp Plc Cl A Comp Sftwr-Spec Enterprs	$143.00	-3.50 -2.39%	$147.00	2,167,289 136.82% of 50 DAV 50 DAV is 1,584,000	$156.12 -8.40%	1/24/2020	$144.66	PP = $140.49
								MB = $147.51
Most Recent Note - 2/27/2020 5:16:30 PM Y - Showing resilience and still consolidating above its 50 DMA line ($137) amid widespread market weakness (M criteria). Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Atlassian Has Been Hovering Near its All-Time High - 2/12/2020 \| 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	$109.93	-4.09 -3.59%	$114.66	729,014 263.18% of 50 DAV 50 DAV is 277,000	$141.67 -22.40%	11/14/2019	$106.87	PP = $112.43
								MB = $118.05
Most Recent Note - 2/27/2020 5:02:03 PM It will be dropped from the Featured Stocks list tonight. Slumped below its 50 DMA line and undercut its old high ($112) during a damaging streak of 4 consecutive volume-driven losses, abruptly retreating from its all-time high. Reported earnings +28% on +32% sales revenues for the Dec '19 quarter, continuing its strong earnings track record. >>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure After Wedging to New Highs - 2/5/2020 \| 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
STNE - NASDAQ Stoneco Ltd Cl A Finance-CrdtCard/PmtPr	$41.85	+0.28 0.67%	$43.96	3,931,109 220.72% of 50 DAV 50 DAV is 1,781,000	$45.72 -8.46%	1/22/2020	$43.94	PP = $45.72
								MB = $48.01
Most Recent Note - 2/27/2020 5:14:49 PM Y - Finding impressive support near its 50 DMA line ($41.52) despite the worrisome market correction (M criteria). 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 : 50-Day Moving Average Line Violation Hurts Outlook - 2/10/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
DAVA - NYSE Endava Plc Cl A Ads Computer-Tech Services	$55.12	+1.31 2.43%	$56.76	185,335 159.77% of 50 DAV 50 DAV is 116,000	$55.75 -1.13%	2/13/2020	$53.71	PP = $49.86
								MB = $52.35
Most Recent Note - 2/27/2020 5:11:34 PM G - Color code is changed to green after hitting a new all-time high today and rallying above its "max buy" level. Prior highs in the $49 area define initial support to watch above its 50 DMA line ($48.30). >>> FEATURED STOCK ARTICLE : Breakout Gain Backed By +462% Above Average Volme - 2/13/2020 \| 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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