FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - MONDAY, JULY 13TH, 2020

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Indices				NYSE			Nasdaq
DOW	+10.50	26,085.80	+0.04%	Volume	1,008,033,681	+15%	Volume	4,810,399,700	+38%
NASDAQ	-226.60	10,390.84	-2.13%	Advancers	1,056	36%	Advancers	906	29%
S&P 500	-29.82	3,155.22	-0.94%	Decliners	1,886	64%	Decliners	2,188	71%
Russell 2000	-19.11	1,403.57	-1.34%	52 Wk Highs	119		52 Wk Highs	210
S&P 600	-7.90	809.47	-0.97%	52 Wk Lows	6		52 Wk Lows	24

Breadth Negative as Stocks Reversed Early Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 Index briefly hit its best level in five months before erasing early session gains to end down 0.9%. The Dow added 10 points, while the Nasdaq Composite slipped 2.1%. Breadth was negative as decliners led advancers by almost a 2-1 margin on the NYSE and more than 2-1 on the Nasdaq exchange. The reported volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, indicative of increased "distributional" selling from institutional investors. There were 91 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 49 on the prior session. New 52-week highs totals expanded and 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 Dow Jones Industrial Average traded up earlier, but met resistance and finished the session below its 200-day moving average (DMA) line.

U.S. stocks finished mixed on Monday.Investors weighed COVID-19-related headlines, with news out of California skewing to the downside. Los Angeles and San Diego schools announced plans for all-virtual learning in the fall, seeming to overshadow optimism surrounding COVID-19 treatment and vaccine candidates. Pfizer (PFE +4.08%) and BioNTech (BNTX +10.55%) reported that two of their experimental vaccines had been “fast-tracked” by the FDA for accelerated review.

Tech and Tech-related names sold off in afternoon trading. Seven of 11 S&P 500 sectors closed in negative territory. In earnings, PepsiCo (PEP +0.33%) reported a top and bottom line beat stemming from a 4% increase in organic sales of its snacks. In other stock news, Tesla (TSLA -3.08%) had a "negative reversal" after it reached a new all-time high during intraday trading, briefly lifting its market cap ranking within the top ten of all U.S. companies. Meanwhile, Moderna (MRNA +14.65%) rallied following a positive Wall Street analyst rating initiation and news that the biotech company would become a member of the Nasdaq 100 on July 20. Elsewhere, Maxim Integrated Products (MXIM +8.11%) gapped up after agreeing to be acquired by fellow semiconductor maker Analog Devices (ADI -5.82%) in an all-stock deal worth nearly $21 billion.

In commodities, WTI crude declined 2.2% to $39.65/barrel amid speculation that OPEC and its allies could opt to pare back historic production curbs. Treasuries strengthened slightly, with the yield on the 10-year note down one basis point to 0.62%.

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.

Bank Index Posts Gain Ahead of a Wave of Earnings Reports
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Financial stocks were mixed as the Broker/Dealer ($XBD -0.39%) edged lower and the Bank ($BKX +0.94%) notched a gain. The Retail ($RLX -2.06%) fell. Commodity-linked groups lost ground as the Gold & Silver ($XAU -3.43%) slumped and the Oil Services ($OSX -2.90%) and Integrated Oil ($XOI -0.81%) both fell. The tech sector saw unanimous losses from the Semiconductor ($SOX -1.72%), Networking ($NWX -2.21%), and the Biotech ($BTK -2.54%).

Chart courtesy of www.stockcharts.com

PICTURED: The Bank ($BKX +0.94%) posted a gain, however it recently slumped below its 50 DMA line after meeting resistance at its 200 DMA line. It has formed a series of higher lows while rebounding from the March low. On Tuesday there are earnings reports due from Citigroup (C), Bank of America (BAC), Wells Fargo (WFC) and JP Morgan Chase & Co (JPM). The market's reaction to the reports and the guidance provided by these key financial players could result in a decisive move toward the prior low, or perhaps another run at the 200 DMA line. The financials are reliable "leading indicators" and may give investors an important signal as to whether or not the current rally will continue to be productive. Stay tuned!

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	31.17	-0.93	-2.90%	-60.19%
Integrated Oil	$XOI	731.44	-5.95	-0.81%	-42.43%
Semiconductor	$SOX	2,034.14	-35.65	-1.72%	+9.98%
Networking	$NWX	534.67	-12.08	-2.21%	-8.35%
Broker/Dealer	$XBD	278.15	-1.09	-0.39%	-4.21%
Retail	$RLX	3,217.00	-67.80	-2.06%	+31.35%
Gold & Silver	$XAU	131.24	-4.66	-3.43%	+22.75%
Bank	$BKX	74.02	+0.69	+0.94%	-34.70%
Biotech	$BTK	5,755.69	-149.72	-2.54%	+13.58%

Negative Reversal After Recently Wedging into New High Territory
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Chegg Inc (CHGG -$4.56 or -6.08% to $70.46) had a "negative reversal" today after hitting a new all-time high, finishing lower with a big loss on higher (near average). Its color code was changed to yellow after pulling back below its "max buy" level. Recent gains above the pivot point were backed by below average volume, action that is termed "wedging", as opposed to a strong technical buy signal. Prior highs in the $68 area defines initial support to watch on pullbacks.

CHGG was highlighted in yellow in the 6/17/20 mid-day report (read here) with a new pivot point cited based on its 5/15/20 high plus 10 cents after a flat 5-week base. It was last shown in this FSU section on 6/18/20 with an annotated graph under the headline, "Formed a Flat Base Perched Within Striking Distance of 52-Week High".

It completed its $13 IPO in November of 2013 and another new Public Offering in August of 2017. It has 123.6 million shares outstanding. The number of high-ranked funds owning its shares rose from 360 in Sep '18 to 552 in Jun '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 2.9 is an unbiased indication its shares have been under heavy accumulation over the past 50 days. It has earned a Timeliness Rating of A and Sponsorship Rating of C.

It won't be reporting financial results for the Jun '20 quarter until 8/03/20. Earnings rose +47% on +35% sales revenues for the Mar '20 quarter, and prior earnings increases were well above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) have been growing at a strong pace since turning profitable in FY '16 following years of losses.

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	$131.12	-14.68 -10.07%	$146.62	3,374,339 196.64% of 50 DAV 50 DAV is 1,716,000	$151.95 -13.71%	6/22/2020	$142.68	PP = $149.79
								MB = $157.28
Most Recent Note - 7/13/2020 6:43:17 PM G - Color code is changed to green after a big loss on heavy volume today violated its 50 DMA line ($136.14) triggering a technical sell signal. Stalled after reaching a new high on 7/09/20 with a solid gain backed by +55% above average volume as it finished the session just below the pivot point. >>> FEATURED STOCK ARTICLE : Best Ever Close With Volume-Driven Gain Approaching Pivot Point - 7/8/2020 \| 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	$91.33	-2.90 -3.08%	$97.10	460,572 72.19% of 50 DAV 50 DAV is 638,000	$96.52 -5.38%	7/7/2020	$89.47	PP = $93.68
								MB = $98.36
Most Recent Note - 7/13/2020 6:41:26 PM Y - Hit a new all-time high today but reversed into the red. Recent gains above the new pivot point cited lacked great volume conviction. No resistance remains due to overhead supply. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Impressive Rebound to Hit a New High - 7/9/2020 \| 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	$126.08	-3.61 -2.78%	$132.00	927,590 101.82% of 50 DAV 50 DAV is 911,000	$136.27 -7.48%	5/19/2020	$123.71	PP = $119.75
								MB = $125.74
Most Recent Note - 7/13/2020 6:54:16 PM G -Retreating from its all-time high hit last week, slumping near its "max buy" level with today's 2nd consecutive loss on average volume. Prior highs in the $119 area and its 50 DMA line ($119.68) coincide defining important near-term support to watch. 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	$124.40	-1.66 -1.32%	$130.04	1,713,162 103.51% of 50 DAV 50 DAV is 1,655,000	$129.89 -4.23%	6/17/2020	$110.95	PP = $112.67
								MB = $118.30
Most Recent Note - 7/10/2020 5:48:50 PM G - Volume totals are cooling while hovering near its all-time high, very extended from any sound base after a streak of gains for new highs. Fundamentals remain strong. Prior high ($112.57) and its 50 DMA line ($108) define near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Hovering Near High With Volume Totals Cooling - 7/10/2020 \| 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	$53.59	-2.29 -4.10%	$58.35	57,507,764 104.69% of 50 DAV 50 DAV is 54,930,000	$59.27 -9.58%	6/9/2020	$55.41	PP = $56.98
								MB = $59.83
Most Recent Note - 7/13/2020 6:55:55 PM Y - Retreated to its 50 DMA line ($53.56) with today's big loss on average volume. Previously met stubborn resistance in the $57-59 area. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. >>> 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	$122.74	-1.51 -1.22%	$127.69	766,461 70.45% of 50 DAV 50 DAV is 1,088,000	$135.32 -9.30%	6/26/2020	$109.05	PP = $132.94
								MB = $139.59
Most Recent Note - 7/10/2020 12:58:37 PM Y - Pulling back today. Hit a new all-time high on the prior session and volume was +105% above average as it traded above the pivot point but stalled and ended in the lower half of its intra-day range. Subsequent volume-driven gains and a close above the pivot point may clinch a new (or add-on) technical buy signal. Important near-term support is at its 50 DMA line ($119.28). Fundamentals remain strong. >>> 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	$525.50	-23.23 -4.23%	$575.37	18,318,355 283.57% of 50 DAV 50 DAV is 6,460,000	$555.88 -5.47%	5/14/2020	$441.95	PP = $449.62
								MB = $472.10
Most Recent Note - 7/13/2020 12:25:57 PM G - Hitting yet another new all-time high with today's big volume-driven gain, getting very extended from any sound base. Found support near its 50 DMA line ($448) 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	$70.46	-4.56 -6.08%	$77.42	4,775,464 101.80% of 50 DAV 50 DAV is 4,691,000	$75.24 -6.35%	6/17/2020	$63.71	PP = $68.08
								MB = $71.48
Most Recent Note - 7/13/2020 6:29:50 PM Y - Color code is changed to yellow after pulling back below its "max buy" level with today's loss on average volume. Prior high in the $68 area defines initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Negative Reversal After Recently Wedging into New High Territory - 7/13/2020 \| 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	$97.15	-4.46 -4.39%	$104.49	377,780 95.40% of 50 DAV 50 DAV is 396,000	$103.72 -6.33%	7/7/2020	$99.19	PP = $95.82
								MB = $100.61
Most Recent Note - 7/13/2020 6:57:57 PM Y - Color code is changed to yellow after retreating back below its "max buy" level with a loss today on near average volume. Prior highs in the $95 area define initial support to watch following its recent technical breakout. >>> 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	$401.87	-21.04 -4.98%	$427.78	1,621,190 82.38% of 50 DAV 50 DAV is 1,968,000	$430.83 -6.72%	4/30/2020	$343.05	PP = $363.05
								MB = $381.20
Most Recent Note - 7/13/2020 6:51:37 PM G - Pulled back from its all-time high with a big loss today on below average volume. It has not formed a sound base. Its 50 DMA line ($389.41) defines important near-term support to watch where a violation may trigger a technical sell signal. >>> 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	$179.55	-12.45 -6.48%	$194.50	2,504,760 130.73% of 50 DAV 50 DAV is 1,916,000	$198.41 -9.51%	7/7/2020	$190.44	PP = $191.82
								MB = $201.41
Most Recent Note - 7/13/2020 6:47:50 PM Y - Abruptly slumped near its 50 DMA line ($179.18) with a big loss today on above average volume. More damaging losses leading to a violation may trigger a worrisome technical sell signal .Recent gains above the pivot point lacked the +40% above average volume necessary to trigger a convincing 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	$430.63	-31.35 -6.79%	$475.67	2,265,426 109.07% of 50 DAV 50 DAV is 2,077,000	$471.12 -8.59%	6/3/2020	$340.61	PP = $327.35
								MB = $343.72
Most Recent Note - 7/13/2020 6:49:47 PM G - Suffered a "negative reversal today after hitting a new all-time high. Very extended from any sound base. Its 50 DMA line ($356.80) defines near-term support to watch. >>> 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	$190.02	-20.09 -9.56%	$211.84	9,368,917 178.25% of 50 DAV 50 DAV is 5,256,000	$217.00 -12.43%	6/10/2020	$149.73	PP = $152.10
								MB = $159.71
Most Recent Note - 7/13/2020 6:39:13 PM G - Abruptly retreated with a big loss on above average volume today. Very extended from any sound base. Its 50 DMA line ($149.61) defines near-term support to watch on pullbacks. DOCU is now priced +99% 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	$30.74	-3.25 -9.56%	$34.92	2,339,511 153.92% of 50 DAV 50 DAV is 1,520,000	$35.36 -13.07%	6/1/2020	$29.24	PP = $29.90
								MB = $31.40
Most Recent Note - 7/13/2020 6:45:22 PM G - Abruptly retreated from its all-time high with a big loss today backed by above average volume. Priced another Secondary Offering on 7/09/20 after an earlier Secondary Offering on 5/15/20. It has not formed a sound base of sufficient length. Prior highs in the $29 area define initial support to watch above its 50 DMA line ($29.09). >>> 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	$90.77	-5.14 -5.36%	$97.17	655,791 48.43% of 50 DAV 50 DAV is 1,354,000	$104.90 -13.47%	5/8/2020	$84.86	PP = $90.20
								MB = $94.71
Most Recent Note - 7/13/2020 5:59:58 PM Y - Color code is changed to yellow after slumping below its "max buy" level with today's big loss on light volume. Prior highs in the $90-91 area have acted as support. More damaging losses would raise concerns and trigger a technical sell signal. Completed a new Public Offering on 6/17/20. >>> 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

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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