FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - TUESDAY, JULY 7TH, 2020

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Indices				NYSE			Nasdaq
DOW	-396.85	25,890.18	-1.51%	Volume	961,223,995	-9%	Volume	4,296,369,600	-5%
NASDAQ	-95.67	10,337.98	-0.92%	Advancers	707	24%	Advancers	903	27%
S&P 500	-34.40	3,145.32	-1.08%	Decliners	2,250	76%	Decliners	2,441	73%
Russell 2000	-26.89	1,416.00	-1.86%	52 Wk Highs	55		52 Wk Highs	128
S&P 600	-16.66	815.23	-2.00%	52 Wk Lows	5		52 Wk Lows	19

Stocks Pull Back as Gold Rises Above $1,800 Per Ounce
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow declined 396 points. The S&P 500 lost 1.1%, snapping a five-day winning streak, while the Nasdaq Composite slipped 0.9%. Breadth was negative as decliners led advancers by more than a 3-1 margin on the NYSE and by 5-2 on the Nasdaq exchange. The reported volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange, indicative that selling pressure was not increasing from the institutional crowd. There were 58 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 90 on the prior session. New 52-week highs totals contracted yet still solidly outnumbered new 52-week lows totals on both exchanges. The major indices are in a confirmed uptrend (M criteria). Any sustainable rally requires a healthy crop of new leaders, so it remains ever-important to see substantial new highs totals.

Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index is -7.3% off its record high and -2.6% year-to-date.

Stocks finished lower Tuesday, as the recent rally in risk assets halted while investors digested several updates. Risk sentiment was pressured by a spike in COVID-19 infections in several pockets of the United States, while downbeat economic projections also weighed on the mood. The European Commission downwardly revised its 2020 and 2021 economic GDP outlook for the 27-member region.

Ten of 11 S&P 500 sectors ended the day in negative territory with Consumer Staples being the lone group to buck the downtrend. In corporate news, Novavax (NVAX +31.62%) surged after the company was awarded $1.6 billion in funding from “Operation Warp Speed,” a government program meant to fast track the development and deployment of a coronavirus vaccine. Walmart (WMT +6.78%) rose after launching “Walmart+” a membership subscription which attempts to compete with Amazon Prime (AMZN -1.86%) . Elsewhere, the airline industry was broadly lower following a report from American Airlines (AAL -6.95%), which indicated reservations declined after several states implemented quarantine requirements for people returning from COVID hotspots.

On the data front, the Jobs Openings and Labor Turnover Survey (JOLTS) showed 5.3 million job openings in May, up from April’s downwardly revised 4.9 million figure. In central bank updates, Atlanta Fed President Raphael Bostic noted the U.S. recovery could be “leveling off.” Safe-haven assets strengthened, with the yield on the 10-year note falling five basis point to 0.63%. Meanwhile, COMEX gold rose above the $1,800.00/ounce mark to an 11-year high.

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 Index and Biotech Index Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Broker/Dealer Index ($XBD -1.68%) and the Bank Index ($BKX -3.62%) suffered losses and the Retail Index ($RLX -1.59%) also slumped. The tech sector was mixed as the Semiconductor Index ($SOX -1.32%) and the Networking Index ($NWX -3.18%) both fell while the Biotech Index ($BTK +0.66%) edged higher. Commodity-linked groups were also mixed as the Integrated Oil Index ($XOI -3.78%) and the Oil Services Index ($OSX -3.06%) both fell, meanwhile the Gold & Silver Index ($XAU +2.54%) was a standout gainer.

Chart courtesy of www.stockcharts.com

PICTURED: The Gold & Silver Index ($XAU +2.54%) hit a new high. It recently found support when consolidating near its 50-day moving average (DMA) line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	32.74	-1.02	-3.02%	-58.18%
Integrated Oil	$XOI	752.69	-29.60	-3.78%	-40.76%
Semiconductor	$SOX	2,019.76	-27.05	-1.32%	+9.20%
Networking	$NWX	536.01	-17.62	-3.18%	-8.13%
Broker/Dealer	$XBD	271.79	-4.64	-1.68%	-6.40%
Retail	$RLX	3,148.31	-51.00	-1.59%	+28.54%
Gold & Silver	$XAU	132.88	+3.23	+2.49%	+24.28%
Bank	$BKX	71.49	-2.40	-3.25%	-36.94%
Biotech	$BTK	5,900.28	+38.51	+0.66%	+16.43%

Breakout to New High Backed by 53% Above Average Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

L G I Homes Inc (LGIH +$5.42 or +5.88% to $97.67) finished strong after highlighted in yellow with pivot point cited based on its 2/21/20 high plus 10 cents in the earlier mid-day report (read here). It hit a new 52-week high today. The gain and strong close above the pivot point was backed by +53% above average volume, enough to trigger a convincing technical buy signal.

LGIH went through a deep consolidation below its 200 DMA line and rebounded impressively in recent months. Reported earnings +129% on +58% sales revenues for the Mar '20 quarter versus the year ago period, its 3rd consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria). Its annual earnings (A criteria) history has been strong.

LGIH completed its IPO at $11 on 11/07/13. The Building - Residential / Commercial firm was last shown in this FSU section on 9/29/16 under the headline, "50-Day Moving Average Line Recently Acted as Support".

Improved earnings growth has been backed by solidly accelerating sales revenues increases which rose +3%, +10%, +27%, +42%, and +58% in the Mar, Jun, Sep, Dec '19 and Mar '20 comparisons, respectively. Fundamentals have been strong enough for it to get a 99 Earnings Per Share Rating, the highest possible rank. However, the current Group Relative Strength Rating of 61 reveals mediocre leadership (L criteria) in the industry group.

The number of top-rated funds owning its shares rose from 372 in Dec '19 to 366 in Jun '20, however its current Up/Down Volume Ratio of 2.1 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A and a Sponsorship Rating of D.

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	$137.96	-1.74 -1.25%	$140.76	1,471,847 88.08% of 50 DAV 50 DAV is 1,671,000	$149.69 -7.84%	6/22/2020	$142.68	PP = $149.79
								MB = $157.28
Most Recent Note - 7/6/2020 5:59:58 PM Y - Quietly consolidating after finding prompt support at its 50 DMA line ($132.64) and above the prior low ($126.88 on 6/15/20). Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a new (or add-on) technical buy signal. >>> FEATURED STOCK ARTICLE : Managed a "Positive Reversal" After Brief Dip Below "Max Buy" Level - 6/15/2020 \| 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	$89.47	+3.70 4.31%	$89.99	602,316 89.50% of 50 DAV 50 DAV is 673,000	$93.58 -4.39%	7/7/2020	$89.47	PP = $93.68
								MB = $98.36
Most Recent Note - 7/7/2020 6:18:34 PM Y - Color code is changed to yellow with a new pivot point cited based on its 6/01/20 high plus 10 cents. Posted a 6th consecutive gain today with near average volume and finished 5 cents below its best-ever close. Recent gains above the 50 DMA line helped its outlook improve. Little resistance remains due to overhead supply up to the $93 level. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Still Below 50-Day Moving Average Following Damaging Gap Down - 6/16/2020 \| 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	$127.96	+0.30 0.23%	$130.08	484,966 53.71% of 50 DAV 50 DAV is 903,000	$131.00 -2.32%	5/19/2020	$123.71	PP = $119.75
								MB = $125.74
Most Recent Note - 7/6/2020 6:01:56 PM G - Color code is changed to green after rising back above its "max buy" level. Prior highs in the $119 area define important near-term support to watch above its 50 DMA line ($116.72). Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Pulled Back Below "Max Buy" Level With Loss on Average Volume - 6/30/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
BMRN - NASDAQ Biomarin Pharmaceutical DRUGS - Drug Manufacturers - Other	$127.98	+0.27 0.21%	$129.89	840,590 49.59% of 50 DAV 50 DAV is 1,695,000	$128.77 -0.61%	6/17/2020	$110.95	PP = $112.67
								MB = $118.30
Most Recent Note - 7/7/2020 6:19:50 PM G - Posted a 5th consecutive gain today for another new all-time high, getting very extended from any sound base. Stubbornly held its ground after a streak of gains for new highs marked by heavy volume. Reported strong results for the Mar '20 quarter and recent comparisons showed improved earnings increases. Annual earnings (A criteria) history has been strong. Prior high ($112.57) defines initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Hit New 52-Week High But Closed Below Pivot After 3-Weeks Tight - 6/17/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AMD - NASDAQ Advanced Micro Devices ELECTRONICS - Semiconductor - Broad Line	$52.93	-0.47 -0.88%	$54.17	31,805,886 55.64% of 50 DAV 50 DAV is 57,168,000	$59.27 -10.70%	6/9/2020	$55.41	PP = $56.98
								MB = $59.83
Most Recent Note - 7/6/2020 5:52:05 PM G - Rebounded near its 50 DMA line ($53.59) with below average volume behind today's gain. Subsequent gains above the 50 DMA line are needed for its outlook to improve. Met stubborn resistance in the $57-59 area. >>> FEATURED STOCK ARTICLE : Slump Below 50-Day Average Toward Prior Low Raises Concerns - 6/26/2020 \| 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
TREX - NYSE Trex Company Inc MATERIALS and CONSTRUCTION - General Building Materials	$126.32	-0.43 -0.34%	$129.60	830,543 77.48% of 50 DAV 50 DAV is 1,072,000	$132.84 -4.91%	6/26/2020	$109.05	PP = $132.94
								MB = $139.59
Most Recent Note - 7/6/2020 5:55:05 PM Y - Quietly perched within close striking distance of its all-time high. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal. Important near-term support is at its 50 DMA line ($116.58). Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph >>> FEATURED STOCK ARTICLE : Quietly Perched Near All-Time High After Forming a New Base - 7/6/2020 \| 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	$493.16	-0.65 -0.13%	$504.82	5,649,580 88.57% of 50 DAV 50 DAV is 6,379,000	$499.50 -1.27%	5/14/2020	$441.95	PP = $449.62
								MB = $472.10
Most Recent Note - 7/6/2020 5:53:16 PM G - Hit another new all-time high with today's volume-driven gain, getting extended from any sound base. Found support near its 50 DMA line ($437) during recent consolidations. >>> FEATURED STOCK ARTICLE : Powered to New High on Prior Session With Volume Driven Gain - 7/2/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CHGG - NYSE Chegg Inc Consumer Svcs-Education	$71.24	-0.03 -0.04%	$72.45	2,775,806 59.72% of 50 DAV 50 DAV is 4,648,000	$72.75 -2.08%	6/17/2020	$63.71	PP = $68.08
								MB = $71.48
Most Recent Note - 7/6/2020 5:57:39 PM Y - Hit a new all-time high as it posted a 7th consecutive gain today with near average volume. Disciplined investors may note that the recent gains above the pivot point were not backed by the at least +40% above average volume necessary to trigger a convincing technical buy signal. Confirming gains above the pivot point backed by volume would be a reassuring sign of fresh institutional buying demand. >>> FEATURED STOCK ARTICLE : Formed a Flat Base Perched Within Striking Distance of 52-Week High - 6/18/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
LGIH - NASDAQ L G I Homes Inc Bldg-Resident/Comml	$97.67	+5.42 5.88%	$99.73	619,659 153.76% of 50 DAV 50 DAV is 403,000	$95.72 2.04%	7/7/2020	$99.19	PP = $95.82
								MB = $100.61
Most Recent Note - 7/7/2020 5:57:34 PM Y - Finished strong today after highlighted in yellow in the earlier mid-day report with a pivot point cited based on its 2/21/20 high plus 10 cents. Hit a new 52-week high as its gain and strong close above the pivot point was backed by +53% above average volume triggering a convincing technical buy signal. Went through a deep consolidation below its 200 DMA line and rebounded impressively in recent months. Reported earnings +129% on +58% sales revenues for the Mar '20 quarter versus the year ago period, its 3rd consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria). Annual earnings history has been strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Breakout to New High Backed by 53% Above Average Volume - 7/7/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NOW - NYSE Servicenow Inc Computer Sftwr-Enterprse	$411.74	-4.70 -1.13%	$421.23	1,305,868 64.61% of 50 DAV 50 DAV is 2,021,000	$425.00 -3.12%	4/30/2020	$343.05	PP = $363.05
								MB = $381.20
Most Recent Note - 7/6/2020 6:03:08 PM G - Perched at its all-time high. It has not formed a sound base. Its 50 DMA line ($379) defines important near-term support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Hovering Near All-Time High With Volume Totals Cooling - 6/25/2020 \| 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	$190.44	-0.03 -0.02%	$194.16	1,110,107 57.88% of 50 DAV 50 DAV is 1,918,000	$196.35 -3.01%	7/7/2020	$190.44	PP = $191.82
								MB = $201.41
Most Recent Note - 7/7/2020 6:25:25 PM Y - Stalled after quietly touching a new all-time high on the prior session. Color code is changed to yellow with new pivot point cited based on its 6/01/20 high plus 10 cents after an orderly consolidation above its 50 DMA line ($176). Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. >>> FEATURED STOCK ARTICLE : 50-Day Moving Average Defines Important Near-Term Support - 6/29/2020 \| 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	$450.71	+3.63 0.81%	$465.32	1,269,552 59.44% of 50 DAV 50 DAV is 2,136,000	$466.00 -3.28%	6/3/2020	$340.61	PP = $327.35
								MB = $343.72
Most Recent Note - 7/2/2020 1:05:24 PM G - Hitting yet another new 52-week high today, getting very extended from any sound base. Its 50 DMA line ($335) defines near-term support above prior highs in the $327 area. >>> FEATURED STOCK ARTICLE : Pullback Breaks Streak of 8 Straight Gains Into New High Ground - 6/24/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
DOCU - NASDAQ Docusign Inc Computer Sftwr-Enterprse	$197.75	+7.09 3.72%	$202.65	6,178,218 125.14% of 50 DAV 50 DAV is 4,937,000	$199.49 -0.87%	6/10/2020	$149.73	PP = $152.10
								MB = $159.71
Most Recent Note - 7/7/2020 5:58:20 PM G - Hit yet another new all-time high today. Very extended from any sound base. Its 50 DMA line ($141.64) defines near-term support to watch on pullbacks. DOCU is now priced +111% above its 200 DMA price, and it is taught in the Certification that a stock trading +70-100% or more above the 200 DMA is to be recognized as a "sell signal". >>> FEATURED STOCK ARTICLE : Rally From Ascending Base Leaves Stock Very Extended - 7/1/2020 \| 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	$31.62	-1.22 -3.71%	$32.83	1,538,257 117.33% of 50 DAV 50 DAV is 1,311,000	$35.36 -10.58%	6/1/2020	$29.24	PP = $29.90
								MB = $31.40
Most Recent Note - 7/7/2020 12:36:22 PM G - Encountering distributional pressure today and in recent weeks after getting extended from the previously noted base. Prior highs in the $29 area define initial support to watch. >>> FEATURED STOCK ARTICLE : Gain for Recent New High Backed by +71% Above Average Volume - 6/22/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AAXN - NASDAQ Axon Enterprise Inc Security/Sfty	$96.06	-3.58 -3.59%	$101.05	1,091,620 80.50% of 50 DAV 50 DAV is 1,356,000	$104.90 -8.43%	5/8/2020	$84.86	PP = $90.20
								MB = $94.71
Most Recent Note - 7/7/2020 6:26:44 PM G - Pulled back today with below average volume, yet it remains above its "max buy" level. Completed a new Public Offering on 6/17/20. Prior highs in the $90-91 area have acted as support following a powerful breakout. More damaging losses would raise concerns and trigger a technical sell signal. >>> FEATURED STOCK ARTICLE : Completed New Pubic Offering and Found Support Near Prior High - 6/19/2020 \| 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
GDDY - NYSE Godaddy Inc Computer Sftwr-Enterprse	$69.74	-0.83 -1.18%	$71.46	2,203,591 144.63% of 50 DAV 50 DAV is 1,523,600	$84.49 -17.46%	6/2/2020	$79.62	PP = $82.40
								MB = $86.52
Most Recent Note - 7/2/2020 5:24:03 PM G - Slumped further today and met resistance after violating its 50 DMA line ($75) with damaging volume-driven losses. A prompt rebound above the 50 DMA line is needed to help its outlook improve. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to clinch a convincing technical buy signal. It previously met stubborn resistance in the $82-84 area. >>> FEATURED STOCK ARTICLE : Hit a New 52-Week High With Today's 8th Consecutive Gain - 6/23/2020 \| 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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