FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - MONDAY, DECEMBER 2ND, 2019

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Indices				NYSE			Nasdaq
DOW	-268.37	27,783.04	-0.96%	Volume	784,812,040	+58%	Volume	2,185,507,890	+104%
NASDAQ	-97.48	8,567.99	-1.12%	Advancers	807	28%	Advancers	913	29%
S&P 500	-27.11	3,113.87	-0.86%	Decliners	2,090	72%	Decliners	2,213	71%
Russell 2000	-16.92	1,607.58	-1.04%	52 Wk Highs	63		52 Wk Highs	80
S&P 600	-11.94	981.57	-1.20%	52 Wk Lows	44		52 Wk Lows	46

Leadership Thinned as Major Indices Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow fell 268 points, while the S&P 500 lost 0.9%. The Nasdaq Composite was down 1.1%. Breadth was negative as decliners led advancers by a 5-2 margin on the NYSE and 2-1 on the Nasdaq exchange. The volume totals were obviously higher than the shortened prior session on both major exchanges. Leadership thinned as there were 24 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 34 on the prior session. New 52-week highs totals contracted yet still outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices (M criteria) are in a "confirmed uptrend" after enduring distributional pressure in recent weeks. The Featured Stocks Page provides the most timely analysis on high-ranked leaders.

Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index pulled back from its record high.

Stocks finished lower on Monday, with the S&P 500 dropping the most in almost two months. A report from the Institute for Supply Management showed U.S. manufacturing activity declined at a faster-than-expected pace in November, marking the fourth-straight month of contraction. Separately, construction spending declined 0.8% in October. Overseas, gauge of Chinese factory activity came in at its best level since December 2016, and manufacturing activity in the eurozone improved last month. Treasuries declined, with the yield on the benchmark 10-year note up five basis points to 1.82%.

In trade news, President Trump announced the resumption of steel and aluminum tariffs on imports from Brazil and Argentina, citing the devaluation of their currencies as the catalyst. Meanwhile, reports indicated a U.S.-China “phase one” trade deal may be stalled after Washington passed legislation supporting anti-government protesters in Hong Kong.

Nine of 11 S&P 500 sectors finished in negative territory. Industrials led the decline, while Tech shares also lagged. Consumer Staples and Energy shares were the only outperformers. In commodities, WTI crude rose 1.4% to $55.96/barrel ahead of the December 5th OPEC meeting in which the group and its allies are expected to discuss deepening output cuts.

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.

Gold & Silver and Oil Services indexes Posted Modest Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Retail Index ($RLX -1.00%), Broker/Dealer Index ($XBD -0.71%), and Bank Index ($BKX -0.47%) posted unanimous losses on Monday. The tech sector had a negative bias as the Semiconductor Index ($SOX -1.46%) and Networking Index ($NWX 1.45%) both outpaced the Biotech Index ($BTK -0.46%) to the downside. The Gold & Silver Index ($XAU +0.54%) and Oil Services Index ($OSX +0.50%) each posted a modest gain while the Integrated Oil Index ($XOI -0.10%) ended the session little changed.

Charts courtesy of www.stockcharts.com

PICTURED: The Retail Index ($RLX -1.00%) pulled back testing its 50-day moving average (DMA) line. Prior lows define the next important support level.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	67.93	+0.34	+0.50%	-15.72%
Integrated Oil	$XOI	1,200.44	-1.18	-0.10%	+3.57%
Semiconductor	$SOX	1,691.75	-25.09	-1.46%	+46.45%
Networking	$NWX	568.62	-8.34	-1.45%	+16.36%
Broker/Dealer	$XBD	286.77	-2.04	-0.71%	+20.83%
Retail	$RLX	2,378.41	-24.02	-1.00%	+21.88%
Gold & Silver	$XAU	96.03	+0.51	+0.53%	+35.90%
Bank	$BKX	109.22	-0.52	-0.47%	+27.31%
Biotech	$BTK	4,976.83	-23.14	-0.46%	+17.91%

Extended From Prior Base Perched Near Record HIgh
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Fortinet Inc (FTNT -$1.19 or -1.13% to $103.92) has been stubbornly holding its ground after getting extended from the prior base. Prior highs in the $97 area defines initial support to watch on pullbacks.

FTNT gapped up on 11/01/19 helping its outlook to improve. Bullish action came after it reported earnings +37% on +21% sales revenues for the Sep '19 quarter versus the year ago period, its 7th consecutive quarterly comparison with earnings above the +25% minimum guideline (C criteria). Annual earnings (A criteria) have been improving since FY '14, also helping it match with the fact-based investment system's guidelines.

It was highlighted in yellow with new pivot point cited based on its 4/16/19 high plus 10 cents in the 11/11/19 mid-day report (read here), It was last shown in this FSU section that evening with an annotated graph under the headline, "Reversed Into Red Today After Touching New High".

The number of top-rated funds owning its shares rose from 960 in Jun '18 to 1,554 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness rating of A and Sponsorship rating of B.

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
MLR - NYSE Miller Industries Inc AUTOMOTIVE - Auto Parts	$36.12	-0.53 -1.45%	$37.00	28,102 62.45% of 50 DAV 50 DAV is 45,000	$37.70 -4.19%	9/24/2019	$34.00	PP = $35.36
								MB = $37.13
Most Recent Note - 11/26/2019 5:13:53 PM Y - Perched near its 52-week high. Prior highs in the $35 area define initial support above its 50 DMA line ($34.20). Showed resilience after recently reporting earnings which were below the fundamental guidelines of the fact-based investment system. >>> FEATURED STOCK ARTICLE : Showing Resilience After Latest Quarter Missed Minimum Guidelines - 11/15/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CCBG - NASDAQ Capital City Bk Gp BANKING - Regional - Mid-Atlantic Banks	$28.85	-0.08 -0.28%	$29.03	27,968 66.59% of 50 DAV 50 DAV is 42,000	$30.85 -6.48%	9/13/2019	$27.03	PP = $27.05
								MB = $28.40
Most Recent Note - 12/2/2019 12:29:52 PM G - Endured distributional pressure yet it is still extended from the prior base. Prior highs define important support to watch along with its 50 DMA line ($28.25). >>> FEATURED STOCK ARTICLE : Consolidating After Volume-Driven Gains for New Highs - 11/19/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
FTNT - NASDAQ Fortinet Inc Computer Sftwr-Security	$103.92	-1.19 -1.13%	$105.44	1,135,702 82.24% of 50 DAV 50 DAV is 1,381,000	$106.00 -1.96%	11/11/2019	$97.14	PP = $97.06
								MB = $101.91
Most Recent Note - 12/2/2019 12:33:21 PM G - Stubbornly holding its ground after getting extended from the prior base. Prior high in the $97 area defines initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Extended From Prior Base Perched Near Record HIgh - 12/2/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
SPSC - NASDAQ S P S Commerce Inc COMPUTER SOFTWARE and SERVICES - Application Software	$55.87	-0.46 -0.82%	$56.90	214,525 108.57% of 50 DAV 50 DAV is 197,600	$59.14 -5.53%	11/29/2019	$56.59	PP = $59.24
								MB = $62.20
Most Recent Note - 11/29/2019 2:25:43 PM Y - Finished lower with today's 2nd consecutive session marked by below average volume. Highlighted in yellow with new pivot point cited based on its 7/26/19 high plus 10 cents. Consolidating near its all-time high. Subsequent gains above its pivot point backed by at least +40% above average volume are needed to trigger a new technical buy signal. Went through a choppy consolidation and rebounded impressively since a 2:1 split impacted share price on 8/23/19 when it was dropped from the Featured Stocks list. Reported earnings +27% on +13% sales revenues for the Sep '19 quarter, and 3 of the past 4 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Rebound Leaves Supply Chain Management Software Firm Near High - 11/29/2019 \| 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	$24.04	+0.07 0.29%	$24.49	294,572 105.96% of 50 DAV 50 DAV is 278,000	$24.35 -1.27%	9/13/2019	$19.68	PP = $19.84
								MB = $20.83
Most Recent Note - 11/27/2019 5:23:55 PM G - Closed one cent off its best ever close with today's 3rd consecutive gain. Prior highs in the $22 area define initial support above Its 50 DMA line ($20.40). Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Volume Totals Cooling After Gains for New Highs - 11/22/2019 \| 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
CHDN - NASDAQ Churchill Downs Inc LEISURE - Gaming Activities	$129.67	-0.34 -0.26%	$130.16	177,697 58.65% of 50 DAV 50 DAV is 303,000	$135.32 -4.18%	10/8/2019	$129.77	PP = $132.83
								MB = $139.47
Most Recent Note - 12/2/2019 12:31:23 PM G - Perched within close striking distance of its 52-week high, but extended from any sound base. Its 50 DMA line ($128) defines near-term support above the prior low ($121.81 on 11/07/19) The Jun and Sep '19 quarterly earnings versus the year ago periods were both below the +25% minimum guideline (C criteria) and raised fundamental concerns. >>> FEATURED STOCK ARTICLE : Resilience Shown Despite Another Sub Par Earnings Report - 11/18/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
LULU - NASDAQ Lululemon Athletica MANUFACTURING - Textile Manufacturing	$225.53	-0.16 -0.07%	$227.00	1,398,740 87.26% of 50 DAV 50 DAV is 1,603,000	$229.65 -1.79%	9/6/2019	$201.25	PP = $194.35
								MB = $204.07
Most Recent Note - 11/27/2019 5:25:48 PM G - Extended from any sound base and it hit another new all-time high with today's 4th consecutive gain. Its 50 DMA line ($203.40) defines important near-term support. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : New High Close Stretches Already Extended Leader - 11/26/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CPRT - NASDAQ Copart Inc SPECIALTY RETAIL - Auto Dealerships	$87.96	-1.04 -1.17%	$88.87	1,878,013 114.51% of 50 DAV 50 DAV is 1,640,000	$92.41 -4.82%	9/5/2019	$79.13	PP = $79.84
								MB = $83.83
Most Recent Note - 12/2/2019 12:32:26 PM G - Consolidating after getting extended from any sound base. The 50 DMA line ($83.22) defines near-term support above the prior low ($80.71 on 11/06/19). Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Gapped Up Following Another Strong Earnings Report - 11/21/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NMIH - NASDAQ N M I Holdings Inc Cl A Finance-MrtgandRel Svc	$32.65	-0.92 -2.74%	$34.05	587,677 137.31% of 50 DAV 50 DAV is 428,000	$34.50 -5.36%	11/8/2019	$32.89	PP = $31.44
								MB = $33.01
Most Recent Note - 11/27/2019 5:16:28 PM G - Posted a 5th consecutive small gain with below average volume. Volume totals have been cooling while holding its ground stubbornly after rising above its "max buy" level with gains backed by above average volume. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Holding Ground Stubbornly Near All-Time High - 11/27/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
SPLK - NASDAQ Splunk Inc Computer Sftwr-Database	$148.04	-1.18 -0.79%	$152.68	2,270,996 121.38% of 50 DAV 50 DAV is 1,871,000	$151.26 -2.13%	11/25/2019	$147.79	PP = $142.16
								MB = $149.27
Most Recent Note - 11/27/2019 5:21:44 PM G - Color code is changed to green after rallying above its "max buy" level. Prior highs in the $142-143 area define initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Spurt of Volume-Driven Gains Reaches New All-Time High - 11/25/2019 \| 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
PAYC - NYSE Paycom Software Inc COMPUTER SOFTWARE and SERVICES - Application Software	$269.04	-7.77 -2.81%	$277.85	878,322 148.87% of 50 DAV 50 DAV is 590,000	$279.95 -3.90%	11/20/2019	$252.97	PP = $259.81
								MB = $272.80
Most Recent Note - 12/2/2019 12:12:49 PM G - Pulling back after an impressive streak of 14 consecutive gains left it extended from the prior base. Prior high ($259) defines initial support to watch on pullbacks. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Powerful Gain for New High Backed by Heavy Volume - 11/20/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
BLD - NYSE Topbuild Corp Bldg-Constr Prds/Misc	$107.70	-2.58 -2.34%	$110.62	263,028 94.61% of 50 DAV 50 DAV is 278,000	$113.74 -5.31%	5/17/2019	$82.19	PP = $87.31
								MB = $91.68
Most Recent Note - 12/2/2019 12:28:42 PM G - Extended from any sound base. Reported earnings +24% on +5% sales revenues for the Sep '19 quarter versus the year ago period, just below the +25% minimum guideline (C criteria). Its 50 DMA line ($102.43) acted as support during its ongoing ascent. >>> FEATURED STOCK ARTICLE : Perched Near High Following Recent Volume-Driven Gains - 11/12/2019 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
GLOB - NYSE Globant SA Computer-Tech Services	$103.75	-3.25 -3.04%	$106.99	508,669 194.89% of 50 DAV 50 DAV is 261,000	$112.33 -7.64%	11/14/2019	$106.87	PP = $112.43
								MB = $118.05
Most Recent Note - 12/2/2019 12:19:45 PM Y - Color code was changed to yellow while rebounding impressively with 6 consecutive gains after finding prompt support near its 50 DMA line ($96.91). Pulled back abruptly after it reported earnings +35% on +27% sales revenues for the Sep '19 quarter. >>> FEATURED STOCK ARTICLE : Rallying Near High With 12th Consecutive Gain - 11/14/2019 \| 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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