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AFTER MARKET UPDATE - FRIDAY, APRIL 7TH, 2017
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Indices NYSE Nasdaq
DOW  -6.85 20,656.10 -0.03% Volume 935,411,910 -6% Volume 1,522,122,757 -10%
NASDAQ -1.14 5,877.81 -0.02% Advancers 1,376 47% Advancers 1,374 49%
S&P 500 -1.95 2,355.54 -0.08% Decliners 1,522 53% Decliners 1,401 50%
Russell 2000 +0.14 1,364.56 +0.01% 52 Wk Highs 69   52 Wk Highs 53  
S&P 600 -0.38 827.49 -0.05% 52 Wk Lows 10   52 Wk Lows 39  

Indices Were Little Changed as Leadership Remained Thin

For the week, the Dow finished little changed, the S&P 500 lost 0.2%, and the Nasdaq fell 0.6%. Stocks finished little changed on Friday. The Dow was down 6 points to 20656. The S&P 500 lost 2 points to 2355 and the Nasdaq Composite slipped 1 point to 5877. The volume totals reported were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Decliners narrowly outnumbered advancers on the NYSE and on the Nasdaq exchange. Leadership remained thin as there were only 11 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 12 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.

Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index has found support near its 50-day moving average (DMA) line during the recent consolidation. Subsequent losses leading to a 50 DMA line violation, or a violation of the recent low, would raise concerns regarding the market rally's health. 

Leadership thinned again with respect to the number of high-ranked stocks hitting new highs as the major averages' (M criteria) uptrend recently came under pressure. New buying efforts should only be made in candidates with superior fundamental and technical characteristics. ThFeatured Stocks Page lists noteworthy high-ranked leaders.

The major averages fluctuated on the session as investors digested a mixed jobs report, the U.S. airstrike in Syria, and commentary from a Federal Reserve official. On the data front, non-farm payrolls grew 98,000 in March, firmly below a projected 180,000 increase. The unemployment rate however fell to a 10-year low of 4.5%. In geopolitical news, global markets weighed the implications of the U.S. airstrike in Syria on Thursday. Late in the session, New York President William Dudley said the U.S. should consider small adjustments to the Dodd-Frank legislation.

Six of 11 sectors in the S&P 500 ended in negative territory. Financials underperformed amid the weaker-than-expected labor data. Citigroup (C -0.8%) edged lower, leading the losses amongst big banks. In earnings, PriceSmart (PSMT -6.30%) fell as quarterly profit missed Wall Street expectations. In Materials, Barrick Gold (ABX -0.73%) fell despite the Syrian air strikes prompting safe-haven buying in gold. Shares of Wal-Mart (WMT +2.06%) rose after being the subject of positive analyst commentary.

Treasuries finished lower with the benchmark 10-year note down 11/32 to yield 2.38%. In commodities, NYMEX WTI crude added 1% to $52.24/barrel. COMEX gold gained 0.3% to $1254.30/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.


Semiconductor and Biotechnology Indexes Rose

The Retail Index ($RLX -0.31%) and Bank Index ($BKX -0.48%) ended slightly lower and the Broker/Dealer Index ($XBD -0.05%) finished flat on Friday. The  tech sector saw small gains from the Semiconductor Index ($SOX +0.47%) and the Biotechnology Index ($BTK +0.55%), but the Networking Index ($NWX -0.01%) was unchangedThe Gold & Silver Index ($XAU -0.18%) and the Integrated Oil Index ($XOI -0.05%) both were little changed, meanwhile, the Oil Services Index ($OSX -1.21%) fell

Charts courtesy www.stockcharts.com

PICTURED: The Gold & Silver Index ($XAU -0.18%) met resistance at its 50-day moving average (DMA) line when trying to rebound.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  168.58 -2.07 -1.21% -8.28%
Integrated Oil $XOI  1,185.19 -0.65 -0.05% -6.53%
Semiconductor $SOX  999.35 +4.66 +0.47% +10.25%
Networking $NWX  445.29 -0.05 -0.01% -0.18%
Broker/Dealer $XBD  210.72 -0.11 -0.05% +2.65%
Retail $RLX  1,444.31 -4.49 -0.31% +7.55%
Gold & Silver $XAU  86.12 -0.16 -0.19% +9.21%
Bank $BKX  90.91 -0.44 -0.48% -0.96%
Biotech $BTK  3,477.34 +19.02 +0.55% +13.08%


Volume Totals Cooling Following Technical Breakout

Ulta Salon Cosmetics & Fragrance, Inc. (ULTA -$0.46 or -0.16% to $284.50) has been consolidating near its all-time high with volume totals cooling since its technical breakout was noted on 3/10/17. Prior highs in the $278 area define support along with its 50-day moving average (DMA) line ($277.88). Subsequent losses leading to violations would raise concerns and trigger technical sell signals.
 
It was shown in this FSU section on 3/06/17 with an annotated graph under the headline, "Earnings News Due as Good Looking Candidate Hovers Near Highs", after highlighted in yellow with new pivot point cited based on its 8/24/16 high plus 10 cents in the earlier mid-day report (read here). The volume-driven gain for new highs (N criteria) on 3/10/17 triggered a new technical buy signal. The bullish action came after it reported Jan '17 quarterly earnings +33% on +25% sales revenues. Its prior earnings history satisfies the C and A criteria. ULTA reported earnings +27%, +39%, +24%, and +26% in the Jan, Apr, Jul, and Oct '16 quarterly comparisons, respectively. Its strong earnings were underpinned by steady sales revenues increases in the +21-22% range during that span of time. Its solid annual earnings (A criteria) history is very reassuring. 

It still has a small supply (S criteria) of only 62.1 million shares outstanding. The number of top-rated funds with an ownership interest has grown from 566 funds in Jun '14 to 1,280 funds as of Mar '17, which is a very encouraging sign of increasing institutional interest (the I criteria).
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
SBCF - NASDAQ
Seacoast Banking Corp Fl
BANKING - Regional - Mid-Atlantic Banks  
$23.94 -0.19
-0.79%

$24.10

426,631
97.18% of 50 DAV
50 DAV is 439,000
$25.13
-4.74%
2/13/2017 $24.84 PP = $23.10
MB = $24.26
Most Recent Note - 4/6/2017 5:22:26 PM
Y - Managed a "positive reversal" today after undercutting its 50 DMA line ($23.34). Subsequent deterioration below the 50 DMA line and recent low ($21.89 on 3/22/17) would raise more serious concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Rebound After Slump Below 50-Day Average Into Prior Base - 3/28/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
CSFL - NASDAQ
Centerstate Banks Inc
Banks-Southeast  
$24.62 -0.24
-0.97%

$24.78

289,646
96.87% of 50 DAV
50 DAV is 299,000
$26.94
-8.60%
3/13/2017 $25.54 PP = $26.40
MB = $27.72
Most Recent Note - 4/5/2017 3:59:11 PM
G - Slumped below its 50 DMA line ($25.16) and its color code is changed to green again. Subsequent losses below its recent low ($23.70 on 3/27/17) would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Gain Backed By Volume For Best Ever Close - 3/15/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
NSP - NYSE
Insperity Inc
Comml Svcs-Outsourcing  
$86.00 +0.00
0.00%

$86.60

108,394
68.17% of 50 DAV
50 DAV is 159,000
$90.55
-5.02%
2/14/2017 $84.30 PP = $82.28
MB = $86.39
Most Recent Note - 4/6/2017 5:20:57 PM
Y - Quietly consolidating just below its "max buy" level. Old highs the $82 area define support along with its 50 DMA line ($82.66).
>>> FEATURED STOCK ARTICLE : Ordinary Pullback From Highs With Lighter Volume - 3/22/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
NTES - NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers  
$277.22 +1.21
0.44%

$280.00

781,395
67.54% of 50 DAV
50 DAV is 1,157,000
$308.66
-10.19%
2/10/2017 $259.30 PP = $272.68
MB = $286.31
Most Recent Note - 4/5/2017 12:49:57 PM
G - Rebounding today after violating its 50 DMA line ($279.76) with a volume-driven loss on the prior session triggering a technical sell signal. Prior highs in the $272 area define important chart support to watch.
>>> FEATURED STOCK ARTICLE : Consolidating in Tight Range Following Breakaway Gap - 3/23/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
HTHT - NASDAQ
China Lodging Group Ads
LEISURE - Lodging  
$61.41 -0.35
-0.57%

$62.81

69,456
47.90% of 50 DAV
50 DAV is 145,000
$64.32
-4.52%
9/29/2016 $46.12 PP = $47.82
MB = $50.21
Most Recent Note - 4/7/2017 5:27:23 PM
G - Volume totals have been cooling while stubbornly holding its ground near its all-time high. Previously noted with caution - "Reported earnings +0% on +4% sales revenues for the Dec '16 quarter versus the year ago period, marking a 2nd comparison below the +25% minimum earnings guideline (C criteria), and its waning sales revenues growth rate is also a concern."
>>> FEATURED STOCK ARTICLE : Bullish Action Led to +54% Rally Since First Featured - 3/17/2017
 |  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
SIRI - NASDAQ
Sirius X M Holdings Inc
MEDIA - Broadcasting - Radio  
$5.16 +0.03
0.58%

$5.18

17,347,515
73.43% of 50 DAV
50 DAV is 23,624,000
$5.53
-6.69%
3/13/2017 $5.48 PP = $5.32
MB = $5.59
Most Recent Note - 4/5/2017 4:09:37 PM
Y - Consolidating quietly above its 50 DMA line ($5.03), but a recent slump into the previous short base raised concerns. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. First highlighted in the 3/13/17 mid-day report (read here) in yellow with pivot point cited based on its 2/22/17 high plus 10 cents.
>>> FEATURED STOCK ARTICLE : Breakout From Advanced Base Pattern Backed By Very Heavy Volume - 3/13/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
BEAT - NASDAQ
BioTelemetry Inc
Medical-Services  
$27.30 -0.10
-0.36%

$27.55

198,832
52.88% of 50 DAV
50 DAV is 376,000
$29.50
-7.46%
2/14/2017 $25.10 PP = $24.55
MB = $25.78
Most Recent Note - 4/7/2017 5:32:42 PM
G - Consolidating above its 50 DMA line ($25.92) and prior highs in the $24 area defining important near-term support. Disciplined investors avoid chasing extended stocks.
>>> FEATURED STOCK ARTICLE : Perched Near High, Extended From Prior Base - 4/3/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ULTA - NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other  
$284.50 -0.46
-0.16%

$286.99

342,094
51.14% of 50 DAV
50 DAV is 669,000
$289.27
-1.65%
3/6/2017 $274.96 PP = $278.73
MB = $292.67
Most Recent Note - 4/7/2017 5:25:31 PM
Y - Still consolidating near its all-time high with volume totals cooling. Prior highs in the $278 area define support along with its 50 DMA line. Subsequent losses leading to violations would raise concerns and trigger technical sell signals. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling Following Technical Breakout - 4/7/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ESNT - NYSE
Essent Group Ltd
Finance-MrtgandRel Svc  
$36.61 -0.12
-0.33%

$36.86

692,919
96.24% of 50 DAV
50 DAV is 720,000
$38.10
-3.91%
4/4/2017 $36.38 PP = $36.81
MB = $38.65
Most Recent Note - 4/5/2017 12:22:10 PM
Y - Challenging its 52-week high with today's gap up and big volume-driven gain. Rallying above the new pivot point cited based on its 3/16/17 high, clearing the "double bottom" base formed over the past 8 weeks, triggering a new (or add-on) technical buy signal. Its 50 DMA line and recent lows define important near-term support. Subsequent losses leading to violations may trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Consolidating Above Support Following Breakout - 3/10/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
VEEV - NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical  
$51.59 +0.37
0.72%

$51.79

1,179,553
97.81% of 50 DAV
50 DAV is 1,206,000
$51.90
-0.60%
3/16/2017 $49.00 PP = $48.05
MB = $50.45
Most Recent Note - 4/4/2017 5:37:06 PM
G - Color code is changed to green while quietly perched above its "max buy" level and near all-time highs. Prior highs in the $47-48 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Breakout Gain for New Highs Backed by Three Times Average Volume - 3/16/2017
 |  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
ANET - NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment  
$132.45 -1.95
-1.45%

$133.70

609,752
71.15% of 50 DAV
50 DAV is 857,000
$135.27
-2.08%
3/6/2017 $119.43 PP = $123.22
MB = $129.38
Most Recent Note - 4/7/2017 5:31:44 PM
G - Pulled back slightly today with light volume, remaining perched near its all-time high, extended from any sound base. Disciplined investors avoid chasing extended stocks.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After a Considerable Rally - 4/5/2017
 |  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  
$27.00 -0.02
-0.07%

$27.01

59,213
65.79% of 50 DAV
50 DAV is 90,000
$29.43
-8.26%
1/23/2017 $27.30 PP = $27.87
MB = $29.26
Most Recent Note - 4/5/2017 4:11:24 PM
G - Slumped further below its 50 DMA line today and undercut the prior low ($26.82 on 3/10/17) raising more serious concerns and triggering a worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Hovering Near Highs But Latest Earnings Were Below Guidelines - 3/8/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
IBP - NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services  
$51.45 -0.20
-0.39%

$52.15

107,204
68.72% of 50 DAV
50 DAV is 156,000
$53.00
-2.92%
2/27/2017 $44.83 PP = $44.40
MB = $46.62
Most Recent Note - 4/7/2017 5:29:50 PM
G - Volume totals have been cooling while hovering in a tight range near its all-time high, extended from its prior base. Its 50 DMA line ($46.80) defines initial support to watch above prior highs in the $44 area.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High Following Volume-Driven Gains - 4/4/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
INGN - NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies  
$76.86 +0.95
1.25%

$77.07

170,493
101.48% of 50 DAV
50 DAV is 168,000
$79.94
-3.85%
2/27/2017 $68.69 PP = $69.94
MB = $73.44
Most Recent Note - 4/4/2017 5:30:52 PM
G - Traded light volume today while remaining perched near its all-time high, extended from its prior base. Its 50 DMA line ($70.83) and prior highs in the $69 area define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Best Ever Close For High-Ranked Medical Product Maker - 3/31/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
PLAY - NASDAQ
Dave & Buster's Ent Inc
Retail-Restaurants  
$59.67 -0.25
-0.42%

$60.22

581,943
70.97% of 50 DAV
50 DAV is 820,000
$63.12
-5.47%
2/23/2017 $55.41 PP = $58.35
MB = $61.27
Most Recent Note - 4/5/2017 4:05:42 PM
G - Pulling back with lighter volume after volume-driven gains for new all-time highs. Reported earnings +19% on +15% sales revenues for the Jan '17 quarter, below the +25% minimum guideline (C criteria). Its 50 DMA line ($57.65) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Retreated From All-Time High Following Earnings Report - 3/29/2017
 |  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
OLLI - NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety  
$33.60 +0.25
0.75%

$34.10

359,212
65.19% of 50 DAV
50 DAV is 551,000
$35.80
-6.15%
3/27/2017 $32.80 PP = $33.55
MB = $35.23
Most Recent Note - 4/5/2017 4:04:12 PM
Y - Still hovering near its all-time high, but it has quietly slumped below the prior pivot point. Reported earnings +22% on +16% sales revenues for the Jan '17 quarter, below the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : No Resistance Remains and Earnings News is Due - 3/27/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
LITE - NASDAQ
Lumentum Holdings Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment  
$48.20 -0.80
-1.63%

$49.30

1,000,758
54.18% of 50 DAV
50 DAV is 1,847,000
$55.92
-13.81%
2/8/2017 $44.60 PP = $44.80
MB = $47.04
Most Recent Note - 4/5/2017 12:31:23 PM
G - Consolidating above its 50 DMA line ($46.86) which defines important near-term support to watch above prior highs.
>>> FEATURED STOCK ARTICLE : Support Elusive Following Prior Demand - 3/14/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
MOMO - NASDAQ
Momo Inc Ads Cl A
INTERNET - Content  
$34.93 +0.37
1.07%

$35.65

4,443,968
100.66% of 50 DAV
50 DAV is 4,415,000
$36.18
-3.45%
3/7/2017 $29.71 PP = $27.83
MB = $29.22
Most Recent Note - 4/6/2017 5:19:36 PM
G - Posted a big gain today with near average volume. Perched near its all-time high, but extended from the previously noted base. Its 50 DMA line ($28.90) and prior highs in the $28 area define important support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched Near High - 4/6/2017
 |  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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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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