FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - THURSDAY, JULY 31ST, 2014

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Indices				NYSE			Nasdaq
DOW	-317.06	16,563.30	-1.88%	Volume	909,388,240	+36%	Volume	2,092,947,750	+21%
NASDAQ	-93.13	4,369.77	-2.09%	Advancers	277	9%	Advancers	443	15%
S&P 500	-39.40	1,930.67	-2.00%	Decliners	2,852	90%	Decliners	2,511	82%
Russell 2000	-26.50	1,120.07	-2.31%	52 Wk Highs	26		52 Wk Highs	28
S&P 600	-14.90	644.93	-2.26%	52 Wk Lows	107		52 Wk Lows	110

Technical Damage Signals Shift in Market Direction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

With Thursday's pullback, the major averages finished July in negative territory. For the month the Dow Jones Industrial Average lost -1.6%, the S&P 500 Index retreated -1.5% while the NASDAQ slipped -0.9%. The Dow violated its 50-day moving average (DMA) line as it fell 317 points to 16,563. The volume totals were higher than the prior session volume total on the NYSE and on the Nasdaq exchange, a sign of distributional pressure. Decliners led advancers by a 9-1 margin on the NYSE and by more than a 5-1 margin on the Nasdaq exchange. Leadership contracted as there were 12 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, down from the prior session total of 27 stocks. A healthy level of leadership (stocks hitting new 52-week highs) is necessary for any sustained rally. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. There was only 1 gainer out of the 14 of the high-ranked companies currently included on the Featured Stocks Page. The market (M criteria) deterioration is enough to earn the label of a "correction" as the technical damage became significant to chart readers. Disciplined investors limit losses and reduce market exposure during rough market periods by selling any stocks which fall more than -7% from their purchase price.

PICTURED: The benchmark S&P 500 Index retreated 39 points to 1,930. Its damaging loss on heavy volume led to a violation of its 50-day moving average line, a clear sign of the market's deteriorating strength. It also violated a multi-month upward trendline.

The NASDAQ Composite dropped 93 points to 4,369, leaving it ten points above its 50 DMA line. The major averages finished firmly lower following a round of disappointing earnings releases. Kraft (KRFT -6.4%) fell as results fell short of consensus. Whole Foods (WFM -2.3%) fell following its reduced its outlook. Health insurer Cigna (CI -3.7%) even after profits topped estimates and raised its full-year forecast. Market weakness was also attributed to concerns surrounding a debt default by Argentina.

On the economic front, weekly jobless claims rose to 302,000 from a revised prior reading of 279,000. Friday's jobs report is expected to show non-farm payrolls rose 231,000 in July.

All 10 sectors in the S&P 500 declined on the session by more than -1.5%. Energy and telecom were the worst performing groups. Exxon (XOM -4.2%) and Verizon (VZ -2.6%) fell. Allstate (ALL 2.7%) was a notable gainer after reporting quarterly results above consensus.

Treasuries finished mixed and little changed. The 10-year note was down 1/32 to yield 2.56%.

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.

Tech, Financial, Retail and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Networking Index ($NWX -3.06%), Biotechnology Index ($BTK -2.41%), and the Semiconductor Index ($SOX -2.10%) fell as the tech sector suffered large losses. Financial shares were weak as the Broker/Dealer Index ($XBD -1.88%) and the Bank Index ($BKX -1.76%) fell, and the Retail Index ($RLX -1.81%) was also a negative influence on the major averages. The Gold & Silver Index ($XAU -2.02%) lost ground and energy-related shares sank as the Oil Services Index ($OSX -2.61%) and the Integrated Oil Index ($XOI -1.77%) lost ground.

Charts courtesy www.stockcharts.com

PICTURED: The Retail Index ($RLX -1.81%) suffered a damaging loss and violated its 200-day moving average (DMA) line.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	287.98	-7.73	-2.61%	+2.47%
Integrated Oil	$XOI	1,641.89	-29.64	-1.77%	+9.23%
Semiconductor	$SOX	607.55	-13.05	-2.10%	+13.55%
Networking	$NWX	326.70	-10.32	-3.06%	+0.85%
Broker/Dealer	$XBD	162.60	-3.11	-1.88%	+1.27%
Retail	$RLX	882.85	-16.29	-1.81%	-6.06%
Gold & Silver	$XAU	98.87	-2.04	-2.02%	+17.49%
Bank	$BKX	70.14	-1.26	-1.76%	+1.27%
Biotech	$BTK	2,737.17	-67.57	-2.41%	+17.45%

Fundamental and Technical Deterioration Hurts Outlook
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Iconix Brand Group Inc (ICON -$0.23 or -0.55% to $41.68) encountered resistance near its 50-day moving average (DMA) recently and there was a "negative reversal" on 7/29/14. It reported earnings +4% on +3% sales revenues for the Jun '14 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. Its Relative Strength rating has slumped below the 80+ minimum guideline for buy candidates under the fact-based system and it faces resistance due to overhead supply up through the $44 level which may hinder its ability to rally. More damaging losses undercutting prior lows ($41.33 on 7/10/14) would raise greater concerns and trigger a more worrisome technical sell signal.

The stock was last shown in this FSU section on 7/11/14 with annotated graphs under the headline, "Slump Below 50-Day Moving Average Line Hurt Outlook". Disciplined investors limit losses while they are small by always selling if any stock falls more than -7% from their purchase price.

The high-ranked Apparel - Clothing Manufacturing firm's annual earnings (A criteria) history has been steady. The number of top-rated funds owning its shares fell from 357 in Sep '13 to 366 in Jun '14, not a reassuring sign concerning the I criteria. However, its current Up/Down Volume Ratio of 1.8 is a unbiased indication its shares have been under accumulation over the past 50 days.

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
ACT - NYSE Actavis plc Medical-Generic Drugs	$214.26	-1.29 -0.60%	$214.80	3,024,929 142.82% of 50 DAV 50 DAV is 2,118,000	$230.77 -7.15%	6/20/2014	$216.53	PP = $230.87
								MB = $242.41
Most Recent Note - 7/29/2014 8:09:11 PM Y - Quietly edged below its 50 DMA line ($215.53) with today's 4th consecutive loss. Still only -6.9% off its 52-week high. Subsequent volume-driven gains to new highs may trigger a technical buy signal. >>> FEATURED STOCK ARTICLE : Disciplined Investors Still Awaiting Technical Breakout - 7/16/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
AFSI - NASDAQ Amtrust Financial Svcs INSURANCE - Property and; Casualty Insurance	$42.64	-1.07 -2.45%	$43.55	298,344 51.09% of 50 DAV 50 DAV is 584,000	$47.10 -9.47%	5/21/2014	$44.85	PP = $44.85
								MB = $47.09
Most Recent Note - 7/29/2014 8:11:13 PM G - Small gains this week helped it rebound above its 50 DMA line helping its technical stance and outlook improve. Faces little resistance due to overhead supply up through the $47 level. >>> FEATURED STOCK ARTICLE : 50-Day Moving Average Line Acted as Recent Resistance - 7/23/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
BITA - NYSE Bitauto Hldgs Ltd Ads Internet-Content	$54.36	-1.67 -2.98%	$55.79	1,000,011 111.24% of 50 DAV 50 DAV is 899,000	$58.50 -7.08%	6/26/2014	$46.20	PP = $47.03
								MB = $49.38
Most Recent Note - 7/31/2014 4:02:23 PM G - Pulled back with today's 3rd consecutive loss on average volume. It remains extended from its prior base after recently wedging higher. Prior highs and its 50 DMA line coincide in the $46 area defining important near-term support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Strength Returned After Shake-Out and Positive Reversal - 7/21/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
BWLD - NASDAQ Buffalo Wild Wings Inc LEISURE - Restaurants	$145.32	+0.15 0.10%	$146.50	943,524 196.53% of 50 DAV 50 DAV is 480,100	$167.64 -13.31%	6/19/2014	$158.52	PP = $159.91
								MB = $167.91
Most Recent Note - 7/30/2014 3:51:42 PM G - Gapped down today for a damaging loss on heavy volume, violating its 50 DMA line and triggering a technical sell signal. Color code is changed to green while trading near its 200 DMA line which may act as support. Reported earnings +42% on +20% sales revenues for the Jun '14 quarter. >>> FEATURED STOCK ARTICLE : Slump Into Prior Base Negated Recent Breakout - 7/14/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
EQM - NYSE E Q T Midstream Partners ENERGY - Oil and Gas Pipelines	$86.54	-2.68 -3.00%	$89.19	448,679 136.79% of 50 DAV 50 DAV is 328,000	$102.51 -15.58%	12/12/2013	$53.17	PP = $56.51
								MB = $59.34
Most Recent Note - 7/30/2014 5:45:07 PM G - Violated its 50 DMA line with today's loss triggering a technical sell signal. Reported earnings +37% on +21% sales revenues for the Jun '14 quarter, an improvement after 2 sub par quarterly earnings comparisons. >>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Consolidating Near Highs - 7/17/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
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
FB - NASDAQ Facebook Inc Cl A INTERNET	$72.65	-2.03 -2.71%	$74.17	43,521,405 96.94% of 50 DAV 50 DAV is 44,897,000	$76.74 -5.33%	7/24/2014	$76.00	PP = $72.69
								MB = $76.32
Most Recent Note - 7/30/2014 5:47:33 PM Y - Holding its ground stubbornly near its 52-week high, above its pivot point and below its "max buy" level. Highlighted in yellow in the 7/24/14 mid-day report (read here) as a "breakaway gap" followed strong earnings news for the Jun '14 quarter and it triggered a technical buy signal. >>> FEATURED STOCK ARTICLE : Breakaway Gap May Signal Beginning of Meaningful Rally - 7/24/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
GRFS - NASDAQ Grifols Sa Cl B Ads Medical-Ethical Drugs	$36.67	-5.54 -13.12%	$38.35	3,093,113 499.70% of 50 DAV 50 DAV is 619,000	$46.66 -21.41%	5/15/2014	$41.14	PP = $43.55
								MB = $45.73
Most Recent Note - 7/31/2014 11:11:17 AM Gapped down today for a considerable volume-driven loss violating its prior lows and undercutting its 200 DMA line triggering more worrisome technical sell signals. It will be dropped from the Featured Stocks list tonight. >>> FEATURED STOCK ARTICLE : Encountered Resistance at 50-Day Moving Average Line - 7/29/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
HF - NYSE H F F Inc Cl A REAL ESTATE - Property Management/Developmen	$33.96	-1.54 -4.34%	$35.07	264,758 135.08% of 50 DAV 50 DAV is 196,000	$38.23 -11.17%	6/20/2014	$34.60	PP = $36.16
								MB = $37.97
Most Recent Note - 7/31/2014 4:00:09 PM G - Color code is changed to green while slumping below its 50 DMA line ($34.64) with today's loss raising concerns. Subsequent violation of its recent low ($33.91 on 7/18/14) would raise greater concerns and trigger a more worrisome technical sell signal. >>> FEATURED STOCK ARTICLE : Slump Into Prior Base Negated Recent Breakout - 7/15/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
ICON - NASDAQ Iconix Brand Group Inc CONSUMER NON-DURABLES - Textile - Apparel Footwear	$42.23	-0.60 -1.40%	$42.54	404,222 87.68% of 50 DAV 50 DAV is 461,000	$44.81 -5.76%	6/5/2014	$43.54	PP = $43.44
								MB = $45.61
Most Recent Note - 7/31/2014 6:37:19 PM G - Reported earnings +4% on +3% sales revenues for the Jun '14 quarter, below the +25% minimum earnings guideline (C criteria) raising fundamental concerns. Recent "negative reversal" as 50 DMA line acted as resistance and Relative Strength rating fell below 80+ minimum guideline. See latest FSU analysis for more details and new annotated graphs. >>> FEATURED STOCK ARTICLE : Fundamental and Technical Deterioration Hurts Outlook - 7/31/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
PANW - NYSE Palo Alto Networks Computer Sftwr-Security	$80.86	-3.35 -3.98%	$83.40	910,029 50.73% of 50 DAV 50 DAV is 1,794,000	$85.78 -5.74%	7/30/2014	$84.21	PP = $85.88
								MB = $90.17
Most Recent Note - 7/31/2014 3:57:54 PM Y - Pulling back from its 52-week high with a loss today on below average volume. Color code was changed to yellow with new pivot point cited based on its 6/30/14 high plus 10 cents while building on a short flat base. Subsequent volume-driven gains to new high territory may trigger a new (or add-on) technical buy signal. Its 50 DMA line and prior highs define important support where subsequent violations would raise serious concerns and trigger technical sell signals. >>> FEATURED STOCK ARTICLE : Found Support Above 50-Day Average Near Prior Highs - 7/22/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
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
TARO - NYSE Taro Pharmaceutical Inds DRUGS - Drug Manufacturers - Other	$141.26	-4.07 -2.80%	$146.37	64,422 90.74% of 50 DAV 50 DAV is 71,000	$149.89 -5.76%	7/30/2014	$144.24	PP = $149.99
								MB = $157.49
Most Recent Note - 7/30/2014 1:08:02 PM Y - Color code is changed to yellow with new pivot point cited based on its 7/14/14 high while building on an advanced "3-weeks tight" base. Subsequent volume-driven gains to new highs may trigger a new (or add-on) buy signal. Tallying a volume-driven gain today. >>> FEATURED STOCK ARTICLE : Big Gains in First 2-3 Weeks After Breakout an Encouraging Sign - 7/18/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
TRN - NYSE Trinity Industries Inc TRANSPORTATION - Railroads	$43.64	-2.08 -4.55%	$45.04	4,557,305 150.01% of 50 DAV 50 DAV is 3,038,000	$47.83 -8.76%	4/30/2014	$37.79	PP = $38.03
								MB = $39.93
Most Recent Note - 7/31/2014 3:54:48 PM G - Gapped down today for a volume-driven loss, retreating from its 52-week high and testing its 50 DMA line ($43.19) which defines important near-term support. A damaging violation would raise concerns and trigger a technical sell signal. Reported earnings +91% on +39% sales for the Jun '14 quarter. >>> FEATURED STOCK ARTICLE : Earnings News Due Following Tuesday's Close - 7/28/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
UA - NYSE Under Armour Inc Cl A CONSUMER NON-DURABLES - Textile - Apparel Clothing	$66.75	-2.47 -3.57%	$68.97	4,486,570 163.62% of 50 DAV 50 DAV is 2,742,000	$70.94 -5.91%	7/10/2014	$58.50	PP = $60.79
								MB = $63.83
Most Recent Note - 7/31/2014 3:56:28 PM G - Pulling back today with higher volume, enduring distributional pressure. Recently reported earnings +0% on +34% sales revenues for the Jun '14 quarter, below the +25% minimum earnings guideline (C criteria), yet the company raised its guidance. >>> FEATURED STOCK ARTICLE : Bullish Action Despite Latest Earnings Below +25% Minimum Guideline - 7/30/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M
WLK - NYSE Westlake Chemical Corp CHEMICALS - Specialty Chemicals	$87.39	-2.07 -2.31%	$89.15	889,061 155.98% of 50 DAV 50 DAV is 570,000	$91.97 -4.98%	4/29/2014	$72.79	PP = $69.31
								MB = $72.78
Most Recent Note - 7/30/2014 5:42:51 PM G - Pulled back with above average volume today, retreating from its 52-week high after getting extended from any sound base pattern. Its 50 DMA line defines important near-term support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Extended From Prior Base After Streak of 8 Consecutive Gains - 7/25/2014 View all notes \| Set NEW NOTE alert \| CANSLIM.net Company Profile \| SEC News \| Chart \| Request a new note C A N S L I M

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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