FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - THURSDAY, JUNE 4TH, 2020

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Indices				NYSE			Nasdaq
DOW	+11.93	26,281.82	+0.05%	Volume	1,155,475,515	+6%	Volume	6,040,561,900	+30%
NASDAQ	-67.10	9,615.81	-0.69%	Advancers	1,610	55%	Advancers	1,704	52%
S&P 500	-10.52	3,112.35	-0.34%	Decliners	1,296	45%	Decliners	1,570	48%
Russell 2000	-0.03	1,452.06	-0.00%	52 Wk Highs	41		52 Wk Highs	73
S&P 600	+12.18	861.45	+1.43%	52 Wk Lows	3		52 Wk Lows	13

Major Indices Ended Mixed and Little Changed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow reversed a more than 150 point decline to end 11 points higher. The S&P 500 and the Nasdaq Composite both snapped a four-session winning streaks, losing 0.3% and 0.7%, respectively. Decliners led advancers by a 5-4 margin on the NYSE while advancers held a narrow lead over decliners on the Nasdaq exchange. The reported volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. There were 27 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 65 on the prior session. New 52-week highs totals contracted yet still outnumbered new 52-week lows totals on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Any sustainable rally requires a healthy crop of new leaders, so the recent improvement in new highs totals was noted as an encouraging sign.

Charts used courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average is -11.1% off its record high hit on 2/12/20 and it has been challenging its 200-day moving average (DMA) line.

Stocks finished mixed on Thursday, as Investors tempered their optimism for a quick economic recovery. The pause comes ahead of tomorrow’s all-important monthly jobs report from the U.S. Labor Department.

Data updates were in focus, with the weekly initial jobless claims coming in over 1.8 million during the final week of May. It marked the first figure below 2 million since March, and the ninth consecutive declining week. Separately, the U.S. trade deficit widened to $49.4 billion in April from March’s $42.3 billion shortfall. Treasuries weakened, with the yield on the 10-year note jumping five basis points to 0.81%. In FOREX trading, a gauge of the U.S. dollar fell for the sixth straight session to near its lowest point in 11 weeks. In commodities, WTI crude lost 0.5% to $37.09/barrel, while COMEX gold gained 1.1% to $1,717.00/ounce.

Eight of 11 S&P 500 sectors ended in negative territory with Real Estate and Utilities leading laggards. Industrials bucked the downtrend, as airliners caught a bid with American Airlines (AAL +41.10%) surging after announcing a 74% jump in flight demand. In other corporate news, eBay (EBAY +6.26%) gapped up for a record high after raising its second-quarter profit and revenue guidance. Costco (COST +1.34%) rose after posting a surprise jump in comparable-store sales last month, with e-commerce revenue more than twice the volume versus a year ago.

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.

Financials, Semiconductor, and Oil Services Indexes Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Bank Index ($BKX +3.99%) and the Broker/Dealer Index ($XBD +2.24%) both posted considerable gains on Thursday. The Retail Index ($RLX -0.74%) suffered a smaller loss. The tech sector was mixed as the Semiconductor Index ($SOX +0.83%) rose while the Networking Index ($NWX -1.22%) and the Biotech Index ($BTK -1.40%) lost ground. The Integrated Oil Index ($XOI -0.42%) edged lower while the Oil Services Index ($OSX +3.92%) and Gold & Silver Index ($XAU +0.98%) both rose.

Chart courtesy of www.stockcharts.com

PICTURED: The Networking Index ($NWX -1.22%) has been making recent progress above its 200-day moving average (DMA) line and is -6% off its 2020 high.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	36.58	+1.38	+3.92%	-53.28%
Integrated Oil	$XOI	853.02	-3.56	-0.42%	-32.86%
Semiconductor	$SOX	1,953.47	+16.00	+0.83%	+5.61%
Networking	$NWX	564.18	-6.96	-1.22%	-3.30%
Broker/Dealer	$XBD	284.02	+6.23	+2.24%	-2.19%
Retail	$RLX	2,830.92	-21.12	-0.74%	+15.58%
Gold & Silver	$XAU	116.45	+1.13	+0.98%	+8.91%
Bank	$BKX	83.59	+3.21	+3.99%	-26.26%
Biotech	$BTK	5,561.08	-78.81	-1.40%	+9.74%

Quiet Pullback Below "Max Buy" Level for NOW
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
ServiceNow Inc's (NOW -$11.14 or -2.87% to $376.95) color code was changed to yellow after pulling back below the "max buy" level with today's loss on below average volume. Recent gains above the pivot point were not backed by volume. Prior highs in the $362 area define initial support to watch on pullbacks. Disciplined investors know that gains above the pivot point should be backed by at least +40% above average volume to clinch a proper technical buy signal. Subsequent volume-driven gains would be a reassuring sign of fresh institutional buying demand which could lead to a sustained and meaningful price advance.

NOW was highlighted in yellow with new pivot point cited based on its 2/19/20 high plus 10 cents in the 4/30/20 mid-day report (read here). It was last shown in this FSU section on 5/14/20 with an annotated graph under the headline, "Consolidating Near Prior High After Wedging Into New High Ground". It went through some choppy consolidations yet has maintained its strong fundamentals since dropped from the Featured Stocks list on 8/02/19.

Annual earnings (A criteria) growth has been strong since FY '15. Quarterly comparisons through Mar '20 versus the year ago periods have been routinely above the +25% minimum earnings guideline (C criteria). It has an Earnings Per Share Rating of 97. The Computer Software - Enterprise group has a Group Relative Strength Rating of 99, a reassuring sign concerning the L criteria. NOW has a new CEO as of 1/01/20.

The number of top-rated funds owning its shares rose from 1,030 in Jun '17 to 2.095 in Mar '20, a reassuring sign concerning the I criteria. It has a Timeliness Rating of A and a Sponsorship Rating of B. Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation 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
FTNT - NASDAQ Fortinet Inc Computer Sftwr-Security	$139.58	-3.31 -2.32%	$143.30	1,083,165 51.33% of 50 DAV 50 DAV is 2,110,000	$149.69 -6.75%	5/7/2020	$134.40	PP = $121.92
								MB = $128.02
Most Recent Note - 6/1/2020 5:56:33 PM G - Challenged its prior high with today's big third consecutive gain backed by near average or lighter volume totals. Prior highs in the $121 area define initial support to watch. >>> FEATURED STOCK ARTICLE : Extended From Prior Base and Holding Ground Stubbornly - 5/22/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
EBS - NYSE Emergent Biosolutions DRUGS - Biotechnology	$84.82	-1.53 -1.77%	$88.53	584,641 112.22% of 50 DAV 50 DAV is 521,000	$93.58 -9.36%	6/1/2020	$72.10	PP = $90.10
								MB = $94.61
Most Recent Note - 6/3/2020 6:12:07 PM Y - Pulled back from its all-time high with a loss today on lighter (near average) volume. Color code was changed to yellow after forming an advanced "3 weeks tight" base pattern with a new pivot point cited based on its 5/12/20 high plus 10 cents. Subsequent gains and a strong close above the pivot point backed by at least +40% above average volume are still needed to clinch a convincing new (or add-on) technical buy signal. Prior low ($78.28 on 5/14/20) defines initial support above its 50 DMA line ($72.57). Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Volume Light Behind Recent Pullback From All-Time High - 5/26/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NBIX - NASDAQ Neurocrine Biosciences DRUGS - Biotechnology	$120.11	+1.08 0.91%	$121.04	584,637 68.32% of 50 DAV 50 DAV is 855,700	$128.29 -6.38%	5/19/2020	$123.71	PP = $119.75
								MB = $125.74
Most Recent Note - 6/3/2020 6:09:35 PM Y - Pulled back today with light volume for a 3rd consecutive loss testing the prior highs in the $117-119 area. Recent quarterly comparisons through Mar '20 showed greatly improved sales revenues and earnings increases versus year ago periods (C criteria). After years of losses it reported solid annual earnings (A criteria) in FY '18 and '19. >>> FEATURED STOCK ARTICLE : Biotech Firm Has New Parkinson's Treatment Drug Approved by FDA - 5/19/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TREX - NYSE Trex Company Inc MATERIALS and CONSTRUCTION - General Building Materials	$114.35	-2.48 -2.12%	$117.58	1,252,033 123.72% of 50 DAV 50 DAV is 1,012,000	$132.84 -13.92%	5/5/2020	$109.05	PP = $111.95
								MB = $117.55
Most Recent Note - 6/4/2020 5:55:32 PM G - Pulled back with above average volume. Recent gains above the pivot point lacked the great volume conviction. Prior highs in the $111 area define initial support to watch. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Bullish Action Continues for Top Wood Alternative Firm - 5/20/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NFLX - NASDAQ Netflix Inc SPECIALTY RETAIL - Music and Video Stores	$414.33	-7.64 -1.81%	$428.71	5,398,240 63.46% of 50 DAV 50 DAV is 8,506,000	$458.97 -9.73%	5/14/2020	$441.95	PP = $449.62
								MB = $472.10
Most Recent Note - 6/2/2020 6:36:24 PM Y - Managed a "positive reversal" on 5/27/20 but volume totals have been very light behind recent gains. Found prompt support near its 50 DMA line ($410.72), and more damaging losses would trigger a technical sell signal. A rebound and subsequent gains above the pivot point must be backed by at least +40% above average volume to trigger a proper new (or add-on) technical buy signal. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Pulling Back After Brief New Base Formation - 5/21/2020 \| 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
NOW - NYSE Servicenow Inc Computer Sftwr-Enterprse	$376.95	-11.14 -2.87%	$389.70	2,071,317 86.05% of 50 DAV 50 DAV is 2,407,000	$396.15 -4.85%	4/30/2020	$343.05	PP = $363.05
								MB = $381.20
Most Recent Note - 6/4/2020 5:49:40 PM Y - Color code is changed to yellow while pulling back below the "max buy" level. Recent gains above the pivot point were not backed by the +40% above average volume necessary to clinch a proper technical buy signal. Prior highs in the $362 area define initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Quiet Pullback Below "Max Buy" Level for NOW - 6/4/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
QLYS - NASDAQ Qualys Inc Computer Sftwr-Security	$110.91	-3.38 -2.96%	$113.87	351,380 64.24% of 50 DAV 50 DAV is 547,000	$119.20 -6.95%	4/9/2020	$100.44	PP = $97.22
								MB = $102.08
Most Recent Note - 6/4/2020 5:52:07 PM G - Pulled back today with light volume slumping near its 20 DMA line ($87.76). It is extended from the previously noted base and its 50 DMA line ($103.28) defines near-term support. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Qualys is Extended From Prior Base and Perched Near All-Time High - 5/29/2020 \| 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	$172.10	-11.36 -6.19%	$182.69	2,654,189 134.46% of 50 DAV 50 DAV is 1,974,000	$191.72 -10.23%	5/4/2020	$159.70	PP = $156.22
								MB = $164.03
Most Recent Note - 6/4/2020 5:54:30 PM G - Pulled back today for 2nd consecutive loss backed by above average volume. Its 50 DMA line ($160) defines important support above prior highs in the $156 area. >>> FEATURED STOCK ARTICLE : Pullback on Lighter Volume After Gain For New High on Big Volume - 5/18/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TTD - NASDAQ The Trade Desk Inc Cl A Comml Svcs-Advertising	$337.24	-17.74 -5.00%	$355.44	2,229,491 99.04% of 50 DAV 50 DAV is 2,251,000	$356.24 -5.33%	6/3/2020	$240.61	PP = $327.35
								MB = $343.72
Most Recent Note - 6/4/2020 5:57:50 PM Y - Pulled back from its all-time high hit on the prior session with a big volume driven gain. Finished strong after highlighted in yellow with new pivot point cited based on its 5/07/20 high in the prior mid-day report. Hit a new all-time high with a big gain backed by +73% above average volume, clearing the pivot point and triggering a convincing technical buy signal. Fundamentals remain strong after it reported Mar '20 quarterly earnings +84% on +33% sales revenues, and 6 of the past 7 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Trade Desk Posts Powerful Gain for New High - 6/3/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
PING - NYSE Ping Identity Hldg Corp Computer Sftwr-Security	$29.55	-0.73 -2.41%	$30.00	1,446,454 128.12% of 50 DAV 50 DAV is 1,129,000	$31.50 -6.19%	6/1/2020	$29.24	PP = $29.90
								MB = $31.40
Most Recent Note - 6/4/2020 12:51:46 PM Y - From the early lows of today's session it has rebounded, yet it is still on pace for a big loss with above average volume. Its slump below prior highs in the $29 area raised concerns and likely triggered sell stops (at -7-8%) for disciplined investors who may have bought above the pivot point cited. Highlighted in yellow with pivot point cited based on its 2/20/20 high plus 10 cents in the 6/01/20 mid-day report (read here). >>> FEATURED STOCK ARTICLE : Strong Gain for New High Backed by 127% Above Average Volume - 6/1/2020 \| 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
AAXN - NASDAQ Axon Enterprise Inc Security/Sfty	$93.34	+2.16 2.37%	$93.59	1,066,675 113.96% of 50 DAV 50 DAV is 936,000	$99.62 -6.30%	5/8/2020	$84.86	PP = $90.20
								MB = $94.71
Most Recent Note - 6/3/2020 12:38:52 PM Y - Color code is changed to yellow while pulling back below its "max buy" level. Considerable volume-driven gains above the pivot point triggered a technical buy signal but it quickly got extended more than 5% above the prior highs in the $90-91 area which define initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Quietly Slumping Near 50-Day Moving Average Line - 5/28/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
GDDY - NYSE Godaddy Inc Cl A Computer Sftwr-Enterprse	$79.14	-2.33 -2.86%	$81.63	974,187 50.95% of 50 DAV 50 DAV is 1,912,000	$82.47 -4.04%	6/2/2020	$79.62	PP = $82.40
								MB = $86.52
Most Recent Note - 6/2/2020 6:20:38 PM Y - Posted a solid gain today backed by +133% above average volume for a new 52-week high. It was highlighted in yellow with pivot point cited based on its 5/01/19 high plus 10 cents in the earlier mid-day report. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal. Rebounded impressively after a deep pullback. Approaching multi-year highs where it previously met stubborn resistance in the $82-84 area. The past 3 quarterly earnings comparisons through Mar '20 versus the year ago periods were above the +25% minimum guideline (C criteria). After years of losses, since FY 17 its annual earnings growth (A criteria) has been strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Godaddy Could Be Ready to Go for New Highs - 6/2/2020 \| 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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