FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Friday, September 18th, 2015

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AFTER MARKET UPDATE - FRIDAY, SEPTEMBER 18TH, 2015

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Indices				NYSE			Nasdaq
DOW	-289.95	16,384.79	-1.74%	Volume	2,552,409,080	+161%	Volume	2,773,217,500	+60%
NASDAQ	-66.72	4,827.23	-1.36%	Advancers	939	30%	Advancers	1,036	34%
S&P 500	-32.12	1,958.08	-1.61%	Decliners	2,156	70%	Decliners	1,966	65%
Russell 2000	-17.32	1,163.37	-1.47%	52 Wk Highs	14		52 Wk Highs	53
S&P 600	-11.62	671.36	-1.70%	52 Wk Lows	104		52 Wk Lows	74

Major Averages Fall Hard Under Distributional Pressure
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks moved lower on Friday. The Dow lost 289 points to 16384. The S&P 500 was off 32 points to 1958. The NASDAQ closed down 66 points to 4827. For the week, the Dow fell 0.3%, the S&P 500 retreaded 0.2% and the NASDAQ eked out a 0.1% gain. The volume totals were reported much higher than the prior session totals on the NYSE and on the Nasdaq exchange, inflated by options expirations, and also indicating distributional pressure. Breadth was negative as decliners led advancers by more than a 2-1 margin on the NYSE and by nearly 2-1 on the Nasdaq exchange. Leadership became scarce as there were only 3 stocks that made it onto the BreakOuts Page, down abruptly from 27 high-ranked companies from the Leaders List that made a new 52-week high on the prior session. The total number of new 52-week lows expanded and outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. There was a gain for only 1 of the 5 high-ranked companies currently on the Featured Stocks Page.

Charts courtesy www.stockcharts.com

PICTURED: The Nasdaq Composite Index ended solidly in the red with a damaging loss on higher volume. It met resistance at its prior lows and its 50-day and 200-day moving average lines. Repeatedly, members have been reminded that at least 2 of the 3 major indices should be trading above their respective 200-day moving average (DMA) lines in order for a market environment to be considered technically "healthy". A lot of recovery work must be done to get the indices back into healthy shape, and that improvement could require some considerable time and patience.

New buying efforts may only be considered in stocks meeting all key criteria of the fact-based investment system. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price.

The major averages sold off on the heels of the Federal Reserve’s statements concerning global growth. Fed Chairman Janet Yellen cited uncertainty in foreign markets and its effect on inflation as the impetus for leaving interest rates unchanged in her press conference on Thursday. In economic news, an index of leading indicators climbed for the fifth month out of the last six, due in part to a stronger housing market.

All ten sectors in the S&P 500 finished in the red on Friday. Energy and industrials stocks led the losses while the utilities sector was the most resilient.

In earnings, Adobe Systems (ADBE +1.17%) rose after beating earnings and revenue forecasts. La Quinta Holdings (LQ -15.39%) plunged after announcing the departure of CEO Wayne Goldberg and lowering forward guidance. Freeport-McMoRan (FCX -9.71%) fell after announcing a new $1 billion stock offering.

Treasuries continued yesterday’s positive momentum. The benchmark U.S. 10-year note was up 8/32 to yield 2.16% while the 30-year bond climbed 27/32 to yield 2.96%.

Commodities were mixed. WTI crude tumbled 4.8% to $44.79/barrel. COMEX gold gained 1.9% to $1138.40/ounce as a “risk-off” trade took hold. In FOREX, the dollar index moved higher after morning weakness..

The number of stocks listed to the Featured Stocks Page waned during deteriorating market conditions. The most current notes with headline links help members have access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.

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.

Energy Groups Led Financial, Tech, and Retail Grpups Lower
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Friday the Retail Index ($RLX -1.53%) slumped and financial shares were a negative influence on the major averages as the Broker/Dealer Index ($XBD -2.69%) and the Bank Index ($BKX -2.41%) both fell. The tech sector was weak as the Semiconductor Index ($SOX -1.66%), Biotechnology Index ($BTK -1.73%), and the Networking Index ($NWX -1.50%) suffered unanimous losses. Energy-linked groups were the weakest as the Oil Services Index ($OSX -4.30%) and the Integrated Oil Index ($XOI -2.82%) both sank.

Charts courtesy www.stockcharts.com

PICTURED: The Gold & Silver Index ($XAU +0.43%) was a standout on Friday as it eked out a modest gain. Rebounding from new 2015 lows, it met resistance at its 50-day moving average (DMA) line. It faces additional near-term resistance at its prior high and remains well below the 200 DMA line. This argues that very few gold producers' stocks have been doing well in recent weeks. The fact-based investment system requires investors to focus on only buying stocks from leading industry groups (L criteria), and never to speculate on stocks in industry groups which are currently out of favor in the marketplace.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	169.37	-7.61	-4.30%	-19.68%
Integrated Oil	$XOI	1,082.75	-31.44	-2.82%	-19.69%
Semiconductor	$SOX	610.75	-10.30	-1.66%	-11.08%
Networking	$NWX	366.64	-5.58	-1.50%	+2.43%
Broker/Dealer	$XBD	168.58	-4.66	-2.69%	-8.70%
Retail	$RLX	1,196.92	-18.59	-1.53%	+15.90%
Gold & Silver	$XAU	48.67	+0.20	+0.41%	-29.24%
Bank	$BKX	69.48	-1.72	-2.42%	-6.44%
Biotech	$BTK	3,994.99	-70.44	-1.73%	+16.16%

Slumped Below 50-Day Average With Higher Volume Loss
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

B O F I Holding Inc (BOFI -$2.28 or -1.87% to $119.96) slumped back to close just below its 50-day moving average (DMA) line on Friday. The loss came with above average volume, whereas recent gains above the 50 DMA line had lacked great volume conviction. It has not formed a sound base, and further deterioration below the 50 DMA line would hurt its near-term outlook. It faces resistance due to overhead supply up through the $134 level.

BOFI was last shown in this FSU section on 9/11/15 with an annotated graph under the headline, "Quiet Gain to Finish Above 50 Day Moving Average". It reported Jun '15 quarterly earnings +41% on +42% sales revenues, above the +25% minimum earnings guideline (C criteria). Earnings rose by +35%, +40%, +41%, +38%, and +35% in the Mar, Jun, Sep, Dec '14, and Mar '15 quarters, respectively, versus the year ago periods. Sales revenues were up +21%, +24%, +39%, +41%, and +41% during that span. Following a downturn in its FY '11 earnings its annual earnings (A criteria) history has been strong.

The number of top-rated funds owning share rose from 261 in Sep '14 to 282 in Jun '15. Leadership from other Finance - Savings & Loan issues has been reassuring concerning the L criteria. It has earned a Timeliness rating of A, and a Sponsorship rating of B. Keep in mind that its small supply of only 13.8 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. BOFI was highlighted in yellow with pivot point cited based on its 3/23/15 high plus 10 cents in the 6/10/15 mid-day report (read here) while noted - "It clinched a technical buy signal with a gain backed by +55% above average volume on the prior session."

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
BOFI - NASDAQ B O F I Holding Inc BANKING - Savings andamp; Loans	$119.96	-2.28 -1.87%	$123.20	475,741 158.58% of 50 DAV 50 DAV is 300,000	$134.79 -11.00%	6/10/2015	$101.47	PP = $97.78
								MB = $102.67
Most Recent Note - 9/14/2015 5:37:59 PM G - Quietly rebounded above its 50 DMA line helping its outlook to improve, however it has not formed a sound base. >>> FEATURED STOCK ARTICLE : Slumped Below 50-Day Average With Higher Volume Loss - 9/18/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AHS - NYSE A M N Healthcare Svcs DIVERSIFIED SERVICES - Staffing and Outsourcing Service	$35.08	-0.73 -2.04%	$35.94	1,558,221 223.24% of 50 DAV 50 DAV is 698,000	$37.25 -5.83%	8/5/2015	$34.50	PP = $32.53
								MB = $34.16
Most Recent Note - 9/18/2015 5:56:32 PM G - Fell today with higher volume indicative of distributional pressure. Still consolidating above its 50 DMA line ($33.15) and prior highs defining important near term support. >>> FEATURED STOCK ARTICLE : Found Support Above 50-Day Moving Average - 9/14/2015 \| 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	$167.23	-0.91 -0.54%	$170.00	1,581,979 168.47% of 50 DAV 50 DAV is 939,000	$176.77 -5.40%	5/29/2015	$155.03	PP = $159.95
								MB = $167.95
Most Recent Note - 9/15/2015 5:40:10 PM G - Posted a gain on light volume today while trading near its 50 DMA line ($164.75). It has not formed a sound base following the deep shakeout on 8/24/15. >>> FEATURED STOCK ARTICLE : Rebound Near 50-Day Moving Average Following Deep Shakeout - 9/10/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
LXFT - NYSE Luxoft Holding Inc Cl A Comp Sftwr-Spec Enterprs	$65.94	-0.82 -1.23%	$67.10	190,451 74.39% of 50 DAV 50 DAV is 256,000	$68.85 -4.23%	5/26/2015	$51.90	PP = $57.40
								MB = $60.27
Most Recent Note - 9/16/2015 5:57:55 PM G - Hit a new high today and no resistance remains due to overhead supply. It did not form a sound base but it found prompt support after violating its 50 DMA line. >>> FEATURED STOCK ARTICLE : Quiet Gain For Second Best Close Ever - 9/15/2015 \| 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	$54.84	+0.03 0.05%	$54.98	1,028,462 382.33% of 50 DAV 50 DAV is 269,000	$55.98 -2.04%	8/12/2015	$49.01	PP = $45.85
								MB = $48.14
Most Recent Note - 9/18/2015 5:59:37 PM G - Finished near the session high today with a small gain on heavy volume amid broader market weakness. Extended from its prior base. Its 50 DMA line and prior highs define near-term support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Another New High Close For Medical Products Firm - 9/16/2015 \| 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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