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AFTER MARKET UPDATE - FRIDAY, AUGUST 26TH, 2016
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Indices NYSE Nasdaq
DOW  -53.01 18,395.40 -0.29% Volume 797,000,010 +14% Volume 1,471,957,690 +7%
NASDAQ +6.72 5,218.92 +0.13% Advancers 1,187 40% Advancers 1,347 47%
S&P 500 -3.43 2,169.04 -0.16% Decliners 1,762 60% Decliners 1,502 53%
Russell 2000 -1.97 1,238.03 -0.16% 52 Wk Highs 192   52 Wk Highs 141  
S&P 600 -2.10 751.91 -0.28% 52 Wk Lows 11   52 Wk Lows 27  

Fed Only Hints at Hikes and Indices Posted Small Losses For Week

For the week, the Dow was down 0.8%, the S&P lost 0.7%, and the Nasdaq fell 0.4%. Stocks finished mostly lower on Friday. The Dow was down 53 points to 18395. The S&P 500 lost 3 points to 2169 and the Nasdaq Composite gained 6 points to 5218. Behind the losses the volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, again hinting that institutional selling pressure picked up its pace. Decliners led advancers by 3-2 on the NYSE and by 8-7 on the Nasdaq exchange. Leadership improved as there were 52 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 29 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.

Charts used courtesy of www.stockcharts.com


PICTURED: The Nasdaq Composite Index is consolidating near its record high after briefly trading above its 2015 peak.

The "confirmed uptrend" for the market (M criteria) has recently encountered some distributional pressure.  See thFeatured Stocks Page which now lists a few noteworthy candidates that have made headway.

The Nasdaq snapped its eight-week win streak on Friday as investors digested comments from Fed Chair Janet Yellen and Vice Chairman Stanley Fischer. Yellen signaled an optimistic approach to interest rate increases as she stated the case for rate hikes has strengthened in recent months. Equities moved lower after Fischer said Yellen’s comments were consistent with a possible September interest rate increase. On the data front, second-quarter GDP was revised down to 1.1% annualized rate from the initial 1.2% reading.

Seven of 10 sectors in the S&P 500 finished in negative territory. Utilities were the worst performers retreating over 2% on the session. In earnings, Brocade (BRCD -11.66%) fell after reported weaker-than-expected IP Ethernet revenue. Herbalife (HLF -2.31%) fell with news Carl Icahn may sell his 18% stake in the company. Shares of Splunk (SPLK -10.11%) fell after being the subject of negative analyst commentary. Autodesk (ADSK +8.12%) rose as the software supplier raised its yearly guidance.

Treasuries declined sharply after Fischer’s comments. The benchmark 10-year note finished 12/32 lower to yield 1.61%. In commodities, NYMEX WTI crude was little changed at $47.35/barrel. COMEX gold added 0.1% to $1321.50/ounce. In FOREX, the Dollar Index surged 0.7%.


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.


Financial, Biotech and Semiconductor Indexes Rose

The Retail Index ($RLX -0.15%) edged lower while the Broker/Dealer Index ($XBD +0.74%) and Bank Index ($BKX +0.73%) both posted modest gains on FridayThe Gold & Silver Index ($XAU -0.78%) and energy-linked groups were weak as the Oil Services Index ($OSX -0.86%) and the Integrated Oil Index ($XOI -0.21%) both finished lower The Biotechnology Index ($BTK +0.91%) led the tech sector while the Semiconductor Index ($SOX +0.49%) posted a smaller gain but the Networking Index ($NWX -1.07%) fell.

Charts courtesy www.stockcharts.com

PICTURED: The Oil Services Index ($OSX -0.86%) is consolidating above its 200-day moving average (DMA) line.

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  160.61 -1.40 -0.86% +1.83%
Integrated Oil $XOI  1,141.76 -2.43 -0.21% +6.44%
Semiconductor $SOX  801.40 +3.93 +0.49% +20.79%
Networking $NWX  393.67 -4.26 -1.07% +4.72%
Broker/Dealer $XBD  168.96 +1.23 +0.74% -5.13%
Retail $RLX  1,351.65 -2.06 -0.15% +5.31%
Gold & Silver $XAU  95.80 -0.71 -0.74% +111.48%
Bank $BKX  71.00 +0.51 +0.72% -2.85%
Biotech $BTK  3,298.12 +29.75 +0.91% -13.53%


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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
TDG - NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services  
$284.72 +0.30
0.11%

$286.82

131,523
32.32% of 50 DAV
50 DAV is 407,000
$289.67
-1.71%
5/11/2016 $248.33 PP = $245.00
MB = $257.25
Most Recent Note - 8/22/2016 5:34:02 PM
G - Volume has been drying up while hovering in a tight range near all-time highs. Its 50 DMA line and prior highs near $268 define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gains Lack Great Volume While Wedging to New Highs - 7/27/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
IESC - NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc  
$16.16 +0.21
1.32%

$16.36

60,760
64.64% of 50 DAV
50 DAV is 94,000
$16.77
-3.64%
7/26/2016 $15.79 PP = $15.74
MB = $16.53
Most Recent Note - 8/23/2016 5:10:16 PM
Y - Finished near the session high with today's gain backed by below average volume. Found support above its 50 DMA line ($14.05), and the recent low (13.50 on 8/02/16) defines important near-term support.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain for New Highs Clinched Technical Buy Signal - 7/26/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
NTES - NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers  
$217.71 +9.22
4.42%

$218.77

1,288,950
116.12% of 50 DAV
50 DAV is 1,110,000
$217.37
0.16%
6/29/2016 $182.42 PP = $186.55
MB = $195.88
Most Recent Note - 8/26/2016 5:42:57 PM
G - Hit a new all-time high and finished strong with today's gain on near average volume, getting more extended from any sound base. Its 50 DMA line ($195) and prior highs near $186 define support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pulled Back on Higher Volume Following Earnings Report - 8/18/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
HTHT - NASDAQ
China Lodging Group Ads
LEISURE - Lodging  
$44.69 -0.33
-0.73%

$45.20

139,549
61.75% of 50 DAV
50 DAV is 226,000
$46.57
-4.04%
7/13/2016 $38.87 PP = $39.29
MB = $41.25
Most Recent Note - 8/24/2016 12:24:02 PM
G - Poised for a best ever close with today's gain backed by above average volume. Extended from any sound base after rallying well above its "max buy" level. Recently hitting new highs with considerable volume-driven gains indicative of fresh institutional buying demand.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gains for New Highs Signal Institutional Demand - 8/17/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
MXL - NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure  
$18.92 +0.41
2.22%

$18.97

1,297,786
93.91% of 50 DAV
50 DAV is 1,382,000
$22.50
-15.91%
5/16/2016 $19.24 PP = $19.20
MB = $20.16
Most Recent Note - 8/26/2016 5:49:32 PM
G - A rebound above the 50 DMA line ($19.55) is needed for its outlook to improve. Its 200 DMA line and prior lows in the $17 area define the next important support level where violations would raise serious concerns.
>>> FEATURED STOCK ARTICLE : Consolidating Near Highs Above its "Max Buy" Level - 7/29/2016
 |  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
PATK - NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale  
$63.25 -1.11
-1.72%

$64.47

148,214
66.76% of 50 DAV
50 DAV is 222,000
$69.53
-9.03%
5/24/2016 $53.45 PP = $50.68
MB = $53.21
Most Recent Note - 8/26/2016 5:51:56 PM
G - Quietly consolidating above the 50 DMA line and latest low ($59.51 on 8/16/16) where subsequent violations would raise concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Rallied +30% in 2 Months Since Breakout Was Featured - 7/28/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
FBHS - NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc  
$63.40 -0.12
-0.19%

$63.92

617,070
30.94% of 50 DAV
50 DAV is 1,994,600
$64.47
-1.66%
6/22/2016 $57.71 PP = $60.08
MB = $63.08
Most Recent Note - 8/26/2016 5:45:46 PM
G - Volume totals have been cooling while stubbornly holding its ground in a tight range near its 52-week high. Prior highs and its 50 DMA line define near-term support in the $60-61 area.
>>> FEATURED STOCK ARTICLE : Perched Above "Max Buy" Level Following Volume-Driven Gain - 8/1/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
NVEE - NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting  
$31.80 -0.27
-0.84%

$32.40

39,727
44.64% of 50 DAV
50 DAV is 89,000
$37.00
-14.05%
4/19/2016 $28.20 PP = $28.10
MB = $29.51
Most Recent Note - 8/24/2016 12:33:40 PM
G - Rebounded from the session's early lows after testing its 50 DMA line ($30.83). The 50 DMA line and prior highs in the $30 define important near-term support. More damaging losses would raise concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Technically Strong Despite Fundamental Concerns - 8/22/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
SFBS - NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks  
$52.21 +0.23
0.44%

$52.72

85,589
92.03% of 50 DAV
50 DAV is 93,000
$53.58
-2.56%
7/19/2016 $53.28 PP = $52.82
MB = $55.46
Most Recent Note - 8/25/2016 5:04:41 PM
Y - Quietly consolidating within close striking distance of its 52-week high. Members were previously reminded - "A volume-driven gain and strong close above the pivot point are needed to clinch a convincing technical buy signal. It has been quietly consolidating since highlighted in yellow in the 7/19/16 mid-day report with pivot point cited based on the 6/01/16 high plus 10 cents." See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Still Consolidating Within Close Striking Distance of New Highs - 8/25/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
INGN - NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies  
$57.51 -0.16
-0.28%

$57.91

121,753
54.11% of 50 DAV
50 DAV is 225,000
$58.78
-2.16%
8/5/2016 $51.72 PP = $56.08
MB = $58.88
Most Recent Note - 8/23/2016 5:11:33 PM
Y - Posted a gain with higher volume today and challenged its 52-week high. Stalled after its 8/09/16 volume-driven gain triggered a technical buy signal.
>>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of Highs Following Rebound - 8/5/2016
 |  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
OLLI - NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety  
$26.42 -0.28
-1.05%

$26.98

504,095
78.40% of 50 DAV
50 DAV is 643,000
$28.72
-8.01%
7/19/2016 $26.42 PP = $28.82
MB = $30.26
Most Recent Note - 8/25/2016 5:06:35 PM
Y - Gapped down and finished near the session low today with a large loss on higher volume indicative of distributional pressure. Members were repeatedly reminded in prior notes - "Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal." See the latest FSU analysis for additional details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Near High Awaiting Volume-Driven Gain to Trigger Technical Buy Signal - 8/24/2016
 |  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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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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