FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - TUESDAY, AUGUST 20TH, 2019

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Indices				NYSE			Nasdaq
DOW	-173.35	25,962.44	-0.66%	Volume	703,004,790	-9%	Volume	1,699,314,989	-11%
NASDAQ	-54.25	7,948.56	-0.68%	Advancers	1,093	38%	Advancers	1,098	36%
S&P 500	-23.14	2,900.51	-0.79%	Decliners	1,747	61%	Decliners	1,927	64%
Russell 2000	-10.84	1,498.01	-0.72%	52 Wk Highs	153		52 Wk Highs	67
S&P 600	-8.50	920.86	-0.91%	52 Wk Lows	60		52 Wk Lows	71

Major Indices Slumped With Less Leaderhip and Less Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow fell 173 points, halting a three-day winning streak. The S&P 500 lost 0.8%, snapping its only back-to-back gains of 1% or more this year. The Nasdaq Composite was down 0.7%. Volume totals reported were lighter than the prior session totals on the NYSE and on the Nasdaq exchange, indicative of less conviction on the sell side from the institutional crowd. Decliners led advancers by a 3-2 margin on the NYSE and nearly 2-1 on the Nasdaq exchange. Leadership contracted as there were 38 high-ranked companies from the Leaders List hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 65 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but new lows narrowly led new highs on the Nasdaq exchange. A follow-through day on 8/13/19 marked a bullish shift concerning the M criteria of the fact-based investment system. Investors have a green light to make carefully selected new buying efforts, however, subsequent losses below prior low for the Nasdaq Composite Index would technically kill the new rally. The Featured Stocks Page provides the most timely analysis on high-ranked leaders.

Charts used courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average slumped for a loss.

Stocks finished lower Tuesday as investors awaited further trade developments and central bank updates.Ten of 11 S&P 500 sectors closed in negative territory, with the Consumer Discretionary sector the only group to eke out a gain. Financials led decliners, sliding 1.4% as Treasury yields resumed their descent. On the earnings front, retailers were in focus. Home Depot (HD +4.40%) rose after profits topped analyst estimates. TJX Companies (TJX -0.08%) sputtered yet finished slightly lower following disappointing quarterly sales results. Kohl’s (KSS -6.89%) fell after the department store’s comparable-store sales drop was worse than consensus expectations. Medtronic (MDT +2.62%) rose after the medical device company raised its full-year forecast and exceeded Wall Street earnings and revenue projections.

On the data front, there were no economic releases of note Tuesday. Market participants look ahead to Wednesday’s release of the latest Federal Reserve meeting minutes, as policymakers reduced interest rates for the first time in a decade last month. Further, Fed Chair Jerome Powell is scheduled to deliver remarks Friday at the annual central bank summit in Jackson Hole, Wyoming. Treasuries advanced Tuesday, sending the yield on the 10-year note down six basis points to 1.54%. In commodities, WTI crude dipped 0.2% to $56.34/barrel, while COMEX gold rose 0.3% to $1,504.60/ounce after dropping the most in a month on Monday. The U.S. dollar eased from its highest level of the year.

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 Have Not Been Strong But Play Key Role in Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Retail Index ($RLX +0.12%) finished flat while financials ended lower (see below). The tech sector had a negative bias as the Semiconductor Index ($SOX -0.54%), Networking Index ($NWX -1.17%) and the Biotech Index ($BTK -1.46%) unanimously slumped. The Integrated Oil Index ($XOI -1.00%) and the Oil Services Index ($OSX -1.26%) both lost ground, meanwhile, the Gold & Silver Index ($XAU +2.93%) was a standout gainer.

Charts courtesy of www.stockcharts.com

PICTURED: The Bank Index ($BKX -1.70%) ended the session lower. It is in weak technical shape after slumping below its 50-day moving average (DMA) line and 200 DMA line toward its December 2018 low.

Charts courtesy of www.stockcharts.com

PICTURED: The Broker/Dealer Index ($XBD -0.57%) ended the session lower. It is in weak technical shape after slumping below its 50 and 200 DMA lines toward its December 2018 low. Continued weakness in the financial groups remains a serious concern because they are usually reliable "leading indicators" for the broader market. Historical studies have shown the major indices to be vulnerable to their worst pullbacks when financial stocks are already weak. If the market can sustain its rally, or falters, we can expect the financial groups to play a very important role.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	64.52	-0.83	-1.27%	-19.95%
Integrated Oil	$XOI	1,168.31	-11.79	-1.00%	+0.79%
Semiconductor	$SOX	1,498.90	-8.09	-0.54%	+29.76%
Networking	$NWX	547.22	-6.47	-1.17%	+11.98%
Broker/Dealer	$XBD	251.06	-1.44	-0.57%	+5.78%
Retail	$RLX	2,298.47	+2.68	+0.12%	+17.79%
Gold & Silver	$XAU	94.74	+2.70	+2.93%	+34.08%
Bank	$BKX	91.06	-1.58	-1.71%	+6.14%
Biotech	$BTK	4,535.44	-67.38	-1.46%	+7.45%

Sputtering Below 50-Day Average and Below Pivot Point
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

L H C Group Inc (LHCG -$0.55 or -0.46% to $119.46) fell below its 50-day moving average (DMA) line ($120) while sputtering below its pivot point again. Any breach of recent low ($116.67 on 8/13/19) would raise more serious concerns and trigger a worrisome sell signal.

Fundamentals remain strong after it reported earnings +27% on +3% sales revenues for the Jun '19 quarter, continuing its strong earnings track record above the +25% minimum guideline (C criteria). LHCG last shown in this FSU section on 7/22/19 with an annotated graph under the headline, "Consolidating Following a Negative Reversal at High".

Its annual earnings growth (A criteria) has been strong, and it has a current Earnings Per Share Rating of 99. The number of top-rated funds owning its shares roe from 441 in Sep '18 to 537 in Jun '19 and the current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days, a reassuring sign concerning the I criteria. It has earned an A Timeliness Rating and a C Sponsorship Rating. It has a small supply of only 31.5 million shares (S criteria) outstanding, which can contribute to greater volatility in the event of institutional buying or selling.

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
SPSC - NASDAQ S P S Commerce Inc COMPUTER SOFTWARE and SERVICES - Application Software	$103.80	-1.21 -1.15%	$104.95	81,900 66.86% of 50 DAV 50 DAV is 122,500	$118.28 -12.24%	6/7/2019	$107.72	PP = $115.10
								MB = $120.86
Most Recent Note - 8/20/2019 5:34:20 PM G - Still sputtering below its 50 DMA line ($105.13). Its Relative Strength Rating is 75, below the 80+ minimum guideline for buy candidates. Reported earnings +22% on +12% sales revenues for the Jun '19 quarter, slightly under the +25% minimum earnings guideline (C criteria), raising fundamental concerns. >>> FEATURED STOCK ARTICLE : Found Support at 50-Day Average - 8/8/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
EPAM - NYSE Epam Systems Inc COMPUTER SOFTWARE and SERVICES - Information Technology Service	$193.27	+2.63 1.38%	$193.72	355,601 85.07% of 50 DAV 50 DAV is 418,000	$201.00 -3.85%	5/9/2019	$169.25	PP = $180.55
								MB = $189.58
Most Recent Note - 8/19/2019 5:32:54 PM G - Consolidating above its 50 DMA line ($184.73) but it has not formed a new base of sufficient length and faces some resistance due to overhead supply up to the $201 level. Reported earnings +27% on +24% sales revenues for the Jun '19 quarter. >>> FEATURED STOCK ARTICLE : Rebounded Above 50-Day Average Following Earnings Report - 8/12/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AUDC - NASDAQ Audiocodes Ltd ELECTRONICS - Scientific and Technical Instrum	$17.70	-0.09 -0.51%	$17.85	96,686 54.32% of 50 DAV 50 DAV is 178,000	$19.74 -10.33%	7/15/2019	$17.10	PP = $17.54
								MB = $18.42
Most Recent Note - 8/19/2019 5:30:14 PM Y - Found support last week while testing prior highs in the $17 area and its 50 DMA line ($16.83). More damaging losses would raise concerns and trigger technical sell signals. Reported earnings +57% on +14% sales revenues for the Jun '19 quarter, continuing its strong earnings track record. >>> FEATURED STOCK ARTICLE : Volume Totals Cooling as Bullish Action Continues - 8/13/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
LHCG - NASDAQ L H C Group Inc HEALTH SERVICES - Home Health Care	$119.46	-0.55 -0.46%	$120.14	168,374 74.83% of 50 DAV 50 DAV is 225,000	$129.37 -7.66%	7/1/2019	$110.94	PP = $122.20
								MB = $128.31
Most Recent Note - 8/20/2019 5:23:38 PM G - Quietly sputtering below its 50 DMA line ($120.59) and below its pivot point. Any breach of recent low ($116.67 on 8/13/19) would raise more serious concerns. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Sputtering Below 50-Day Average and Below Pivot Point - 8/20/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CHDN - NASDAQ Churchill Downs Inc LEISURE - Gaming Activities	$120.87	+0.43 0.36%	$121.19	140,332 59.21% of 50 DAV 50 DAV is 237,000	$132.73 -8.94%	7/22/2019	$118.45	PP = $118.89
								MB = $124.83
Most Recent Note - 8/20/2019 5:25:36 PM Y - Found support near its 50 DMA line ($111.17). Weak action came after it reported Jun '19 earnings rose +10% on +26% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria). The prior low ($113.88 on 8/05/19) defines the next important near-term support to watch. >>> FEATURED STOCK ARTICLE : Recently Found Support at 50-Day Moving Average - 8/14/2019 \| 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
LULU - NASDAQ Lululemon Athletica MANUFACTURING - Textile Manufacturing	$179.67	+1.00 0.56%	$180.60	1,028,009 51.45% of 50 DAV 50 DAV is 1,998,000	$194.25 -7.51%	6/13/2019	$174.48	PP = $179.60
								MB = $188.58
Most Recent Note - 8/15/2019 4:14:45 PM G - Still sputtering below its 50 DMA line ($182.81) which may act as resistance. A rebound above the 50 DMA line is needed to help its technical stance improve. Reported Apr '19 quarterly earnings +35% on +20% sales revenues versus the year ago period. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Sputtering After Slump Below 50-Day Moving Average - 8/15/2019 \| 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	$323.08	-2.17 -0.67%	$328.28	472,150 68.78% of 50 DAV 50 DAV is 686,500	$368.83 -12.40%	3/15/2019	$341.27	PP = $322.59
								MB = $338.72
Most Recent Note - 8/15/2019 1:26:59 PM G - Testing its 200 DMA line ($317) today. Technical weakness raised concerns, and a rebound above its 50 DMA line ($347) is needed for its outlook to improve. Reported earnings +17% on +13% sales revenues for the Apr '19 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. >>> FEATURED STOCK ARTICLE : Ulta Beauty Sputtering Below 50-Day Moving Average - 8/7/2019 \| 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	$40.42	-0.55 -1.34%	$41.06	1,429,569 93.80% of 50 DAV 50 DAV is 1,524,000	$48.22 -16.18%	7/8/2019	$44.11	PP = $41.79
								MB = $43.88
Most Recent Note - 8/20/2019 5:26:54 PM G - Remains below its 50 DMA line ($41.65) which acted as resistance after recent losses on higher volume. A prompt rebound above the 50 DMA line is needed for its outlook to improve. Reported earnings +92% on +26% sales revenues for the Jun '19 quarter. >>> FEATURED STOCK ARTICLE : Consolidating Above Prior Highs and 50-Day Average - 8/6/2019 \| 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	$157.67	-0.43 -0.27%	$159.40	837,733 61.83% of 50 DAV 50 DAV is 1,355,000	$176.90 -10.87%	5/30/2019	$154.32	PP = $145.80
								MB = $153.09
Most Recent Note - 8/15/2019 4:17:33 PM G - Still sputtering below its 50 DMA line ($165.56) which acted as resistance after volume-driven losses. A rebound above the 50 DMA line is needed for its outlook to improve. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Recently Found Support Near 50-Day Moving Average - 8/1/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
PAYC - NYSE Paycom Software Inc COMPUTER SOFTWARE and SERVICES - Application Software	$246.97	+3.31 1.36%	$248.44	516,061 82.31% of 50 DAV 50 DAV is 627,000	$246.85 0.05%	8/20/2019	$246.97	PP = $246.95
								MB = $259.30
Most Recent Note - 8/20/2019 5:32:35 PM Y - Color code is changed to yellow with new pivot point cited based on its 7/11/19 high plus 10 cents. Quietly hit a new all-time high with today's 4th consecutive gain with below average volume. Gains above a stock's pivot must have at least +40% above average volume to trigger a proper new (or add-on) technical buy signal. Its 50 DMA line ($232.63) defines support above the recent low ($216.55 on 8/05/19). Reported earnings +27% on +31% sales revenues for the Jun '19 quarter, continuing its strong earnings track record. >>> FEATURED STOCK ARTICLE : Found Support and Gapped Up Following Earnings Report - 8/2/2019 \| 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
BLD - NYSE Topbuild Corp Bldg-Constr Prds/Misc	$91.92	-0.63 -0.68%	$93.59	288,582 91.61% of 50 DAV 50 DAV is 315,000	$93.45 -1.64%	5/17/2019	$82.19	PP = $87.31
								MB = $91.68
Most Recent Note - 8/19/2019 5:25:37 PM G - Hit a new all-time high with today's 3rd consecutive gain backed by light volume. Stubbornly held its ground following bullish action after it reported earnings +39% on +9% sales revenues for the Jun '19 quarter versus the year ago period, continuing its strong earnings track record. Its prior highs in the $86 area define initial support to watch above 50 DMA line ($83.09) on pullbacks. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Topbuild Has 4 Consecutive Weekly Gains and Stubbornly Held Ground - 8/19/2019 \| 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	$142.14	+0.87 0.62%	$143.00	535,245 41.82% of 50 DAV 50 DAV is 1,280,000	$149.80 -5.11%	5/24/2019	$129.52	PP = $132.09
								MB = $138.69
Most Recent Note - 8/20/2019 5:35:37 PM G - Found support at its 50 DMA line ($136.49) in recent weeks but did not form a sound base. Its prior low ($130.78 on 7/23/19) defines the next important near-term support to watch where a violation would raise serious concerns and trigger a more worrisome technical sell signal. Reported earnings +43% on +36% sales revenues for the Jun '19 quarter, continuing its strong earnings track record. >>> FEATURED STOCK ARTICLE : Abrupt Retreat After Getting Very Extended From Prior Base - 7/29/2019 \| 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	$250.12	+7.20 2.96%	$252.79	1,382,556 94.50% of 50 DAV 50 DAV is 1,463,000	$289.51 -13.61%	7/18/2019	$240.61	PP = $258.10
								MB = $271.01
Most Recent Note - 8/20/2019 5:37:43 PM Y - Color code is changed to yellow after rebounding above its 50 DMA line ($247.50) helping its technical stance improve. Reported Jun '19 quarterly earnings +58% on +42% sales revenues. >>> FEATURED STOCK ARTICLE : Consolidating Near 50-Day Moving Average Line - 8/16/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
PAGS - NYSE Pagseguro Digital Cl A Finance-CrdtCard/PmtPr	$48.89	-0.94 -1.89%	$50.28	1,983,795 85.14% of 50 DAV 50 DAV is 2,330,000	$53.43 -8.50%	6/25/2019	$37.69	PP = $40.07
								MB = $42.07
Most Recent Note - 8/20/2019 5:39:39 PM G - Pulled back today for a 2nd consecutive loss on lighter volume after gapping up 8/16/19 and hitting a new all-time high with a considerable volume-driven gain. Noted in prior mid-day reports - "Reported earnings +35% on +39% sales revenues for the quarter ended June 30,2019 versus the year ago period. Recent low and 50 DMA line coincide in the $42 area defining important near-term support to watch on pullbacks." >>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure After Impressive Sprint - 7/30/2019 \| 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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