FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Friday, September 29th, 2023

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AFTER MARKET UPDATE - FRIDAY, SEPTEMBER 29TH, 2023

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Indices				NYSE			Nasdaq
DOW	-158.84	33,507.50	-0.47%	Volume	1,090,544,310	+20%	Volume	5,229,992,100	+12%
NASDAQ	+18.05	13,219.32	+0.14%	Advancers	1,252	45%	Advancers	2,244	52%
S&P 500	-11.65	4,288.05	-0.27%	Decliners	1,537	55%	Decliners	2,112	48%
Russell 2000	-9.21	1,785.10	-0.51%	52 Wk Highs	29		52 Wk Highs	43
S&P 600	-7.86	1,151.26	-0.68%	52 Wk Lows	84		52 Wk Lows	168

TODAY'S SPECIAL NOTICE

Damaging losses have signaled a more serious market correction (M criteria). During market corrections, disciplined investors know to reduce exposure and raise cash by selling any weakening stocks on a case-by-case basis.

Major Indices Rolled Over Following Bullish Start
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The S&P 500, Nasdaq, and Dow Jones Industrial Average were up 0.8%, 1.4%%, and 0.7%, respectively, at their highs Friday morning but all rolled over and closed near their worst levels of the session. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Decliners led advancers by a 5-4 margin on the NYSE and by a narrower margin on the Nasdaq exchange. There were 5 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page versus the total of 12 on the prior session. New 52-week lows totals solidly outnumbered new 52-week highs totals on the NYSE and on the Nasdaq exchange. The major indices are in a correction (M criteria). New buying efforts should be avoided until a new rally is confirmed by a solid follow-through day.

Chart courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average has been recently undercutting its August low and its 200-day moving average (DMA) line.

Seven of the S&P 500 sectors closed with losses. Energy (-2.0%) was the worst performer by a wide margin while the consumer discretionary sector (+0.5%) led the pack. The 10-yr note yield settled two basis points lower at 4.57%. The 2-yr note yield fell four basis points to 5.04%. The Personal Income/Outlays report for August showed a moderation in the yr/yr core PCE rate to 3.9% from 4.3% in July, though the headline PCE rate accelerated to 3.5% from 3.4%.

There were no reports indicating progress in Washington, suggesting that the government is on track to enter a partial shutdown on Sunday. The UAW called on an additional 7,000 workers at Ford (F -1.11%) and General Motors (GM -0.57%) to strike.

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.

Retail and Tech Groups posterd Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +0.14%) inched higher but the Broker/Dealer Index ($XBD -0.43%) slumped on Friday. The Retail Index ($RLX +0.45%) posted a small gain. The Semiconductor Index ($SOX +0.39%) and the Networking Index ($NWX +1.02%) each posted gains but again the Biotech Index ($BTK -0.22%) edged lower. The Oil Services Index ($OSX -2.88%) and the Integrated Oil Index ($XOI -2.02%) suffered big losses and the Gold & Silver Index ($XAU -0.35%) edged lower.

Chart courtesy of www.stockcharts.com

PICTURED: The Integrated Oil Index ($XOI -2.02%) recently has been consolidating above its 50-day moving average (DMA) line after reaching a new 52-week high.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	94.51	-2.81	-2.88%	+12.70%
Integrated Oil	$XOI	1,933.81	-39.81	-2.02%	+8.20%
Semiconductor	$SOX	3,434.29	+13.30	+0.39%	+35.63%
Networking	$NWX	751.75	+7.56	+1.02%	-4.03%
Broker/Dealer	$XBD	483.84	-2.08	-0.43%	+7.73%
Retail	$RLX	3,362.39	+15.11	+0.45%	+22.09%
Gold & Silver	$XAU	107.48	-0.38	-0.35%	-11.07%
Bank	$BKX	78.29	+0.11	+0.14%	-22.37%
Biotech	$BTK	5,014.81	-10.88	-0.22%	-5.04%

Arista Consolidates Above 50-Day Moving Average Line
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Arista Networks Inc (ANET -$0.50 or -0.27% to $183.93) had a "negative reversal" today. Volume totals have been cooling in recent weeks. It remains perched only -7.4% from its all-time high. Its 50-day moving average (DMA) line ($181.60) defines near-term support.

Fundamentals remain strong after it reported Jun '23 quarterly earnings +40% on +39% sales revenues versus the year-ago period. ANET was highlighted in yellow with pivot point cited based on its 12/27/21 high plus 10 cents in the 3/08/23 mid-day report (read here). It was last shown in this FSU section on 9/15/23 with an annotated graph under the headline, "Orderly Pullback Below "Max Buy" Level".

ANET currently has a 98 Earnings Per Share Rating. It has shown 7 consecutive quarterly comparisons with strong and steady above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) had a downturn in FY '20 like many companies during the pandemic.

The number of top-rated funds owning its shares rose from 1,758 in Dec '21 to 2,326 in Jun '23, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days. The high-ranked Computer - Networking firm has a Timeliness Rating of A and a Sponsorship Rating of C. Its small supply of 250.8 million shares (S criteria) in the public float may contribute to greater volatility in the event of institutional buying or selling.

Charts used 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
STRL - NASDAQ Sterling Infrastructure Bldg-Heavy Construction	$73.70	+0.52 0.71%	$75.70	280,394 68.89% of 50 DAV 50 DAV is 407,000	$84.00 -12.26%	12/14/2022	$32.41	PP = $33.72
								MB = $35.41
Most Recent Note - 9/27/2023 5:04:08 PM G - Rebounded above its 50 DMA line ($72.39) with today's gain backed by higher (but still below-average) volume. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Found Support and Rebounded Above 50-Day Moving Average - 9/27/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
FIX - NYSE Comfort Systems USA Bldg-A/C and Heating Prds	$176.47	+3.70 2.14%	$177.69	249,128 100.86% of 50 DAV 50 DAV is 247,000	$192.33 -8.25%	4/27/2023	$148.85	PP = $152.23
								MB = $159.84
Most Recent Note - 9/28/2023 5:17:49 PM G - Posted a 2nd consecutive gain with near-average volume. A rebound above the 50 DMA line ($178.24) is still needed for its outlook to improve. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Violated 50-Day Moving Average With a Damaging Gap Down - 9/21/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
ANET - NYSE Arista Networks Computer-Networking	$184.43	+2.83 1.56%	$184.92	1,709,831 65.24% of 50 DAV 50 DAV is 2,621,000	$198.70 -7.18%	8/1/2023	$188.84	PP = $178.46
								MB = $187.38
Most Recent Note - 9/26/2023 5:51:38 PM G - Quietly sputtering below its 50 DMA line ($181) today with another loss on light volume. Only a prompt rebound above the 50 DMA line would help its outlook improve. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Orderly Pullback Below "Max Buy" Level - 9/15/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
MEDP - NASDAQ Medpace Holdings Medical-Research Eqp/Svc	$246.37	-1.63 -0.66%	$248.69	255,076 88.57% of 50 DAV 50 DAV is 288,000	$282.73 -12.86%	7/25/2023	$196.32	PP = $241.57
								MB = $253.65
Most Recent Note - 9/27/2023 5:06:39 PM G - Holding its ground for the past week after violating its 50 DMA line ($259.53) with volume-driven losses. A rebound above the 50 DMA line is needed for its outlook to improve. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Damaging Streak of Losses Violated 50-Day Moving Average Line - 9/22/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
COKE - NASDAQ Coca-Cola Consolidated Beverages-Non-Alcoholic	$643.43	+6.83 1.07%	$648.55	22,036 56.50% of 50 DAV 50 DAV is 39,000	$745.53 -13.69%	8/3/2023	$718.56	PP = $694.30
								MB = $729.02
Most Recent Note - 9/28/2023 5:15:52 PM G - Posted a gain today with light volume. A rebound above the 50 DMA line ($673) is still needed to help its outlook improve. >>> FEATURED STOCK ARTICLE : Lingering Below 50 DMA Line and Perched -12.3% Off High - 9/25/2023 \| 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
PLUS - NASDAQ ePlus Computer-Tech Services	$64.81	+1.47 2.32%	$65.48	124,271 116.14% of 50 DAV 50 DAV is 107,000	$75.90 -14.61%	8/8/2023	$67.60	PP = $62.92
								MB = $66.07
Most Recent Note - 9/28/2023 5:14:40 PM Y - Recently found support near its 50 DMA line ($62.70). More damaging losses may trigger a technical sell signal. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Orderly Consolidation Continues for ePlus - 9/28/2023 \| 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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