FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Wednesday, December 6th, 2023

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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 6TH, 2023

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Indices				NYSE			Nasdaq
DOW	-70.13	36,054.43	-0.19%	Volume	943,873,075	+4%	Volume	5,253,840,300	-16%
NASDAQ	-83.20	14,146.71	-0.58%	Advancers	1,341	48%	Advancers	2,093	49%
S&P 500	-17.84	4,549.34	-0.39%	Decliners	1,436	52%	Decliners	2,216	51%
Russell 2000	-3.99	1,852.05	-0.21%	52 Wk Highs	134		52 Wk Highs	138
S&P 600	-2.46	1,199.20	-0.20%	52 Wk Lows	25		52 Wk Lows	109

Major Indices Erased Early Gains to End Lower
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The major indices all erased early gains to end lower as the market-cap weighted S&P 500 was up 0.5% at its high but closed with a -0.4% loss. Volume was reported mixed, higher that the prior session total on the NYSE and lower on the Nasdaq exchange. Decliners led advancers by a narrow margin on the NYSE and on the Nasdaq exchange. There were 87 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 49 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). New buying efforts should be only made in stocks fitting all key criteria of the fact-based investment system.

Chart courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index is perched near its 2023 high after recent gains.

Many stocks rolled over in the afternoon so that only three of the S&P 500 sectors registered gains, utilities (+1.4%), industrials (+0.5%), and health care (+0.1%). The energy sector (-1.6%) saw the largest decline by a wide margin. The energy sector was pressured by a sharp drop in oil prices as WTI crude oil futures settled below $70.00/bbl at $69.37/bbl.

The ADP Employment Change Report for November showed 103,000 jobs were added to private-sector payrolls following a downwardly revised 106,000 (from 113,000) in October. The 10-yr note yield fell five basis points today to 4.12%, but the 2-yr note yield climbed five basis points to 4.61%.

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 Indexes Fell; Biotech, Networking, Broker/Dealer Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -0.60%) and the Bank Index ($BKX -0.34%) both edged lower as the Broker/Dealer Index ($XBD +0.35%) edged higher. The tech sector was mixed as the Biotech Index ($BTK +0.59%) and Networking Index ($NWX +0.60%) both posted modest gains while the Semiconductor Index ($SOX -0.72%) lost ground. Energy-linked groups clearly had a negative bias as the Integrated Oil Index ($XOI -2.23%) and the Oil Services Index ($OSX -2.98%) both slumped, meanwhile, the Gold & Silver Index ($XAU -0.06%) finished flat.

Chart courtesy of www.stockcharts.com

PICTURED: The Biotech Index ($BTK +0.59%) is making progress above its 50-day moving average (DMA) line toward its 200 DMA.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	78.12	-2.40	-2.98%	-6.84%
Integrated Oil	$XOI	1,779.87	-40.54	-2.23%	-0.41%
Semiconductor	$SOX	3,645.82	-26.58	-0.72%	+43.98%
Networking	$NWX	743.81	+4.46	+0.60%	-5.04%
Broker/Dealer	$XBD	508.26	+1.76	+0.35%	+13.17%
Retail	$RLX	3,705.51	-22.30	-0.60%	+34.55%
Gold & Silver	$XAU	120.00	-0.07	-0.06%	-0.71%
Bank	$BKX	86.39	-0.30	-0.34%	-14.34%
Biotech	$BTK	4,961.60	+29.24	+0.59%	-6.05%

Made Gradual Progress Since Latest Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Arista Networks Inc (ANET -$2.31 or -1.07% to $213.40) had a "negative reversal" today and ended near the session low with a loss backed by average volume. Prior highs in the $198 area define near-term support above its 50 DMA line ($201.28). Fundamentals remain strong.

ANET finished strong after it was highlighted in yellow and new pivot point cited is based on its prior high plus 10 cents in the 10/31/23 mid-day report (read here). Bullish action came after it reported Sep '23 quarterly earnings +46% on +28% sales revenues versus the year-ago period, continuing its strong earnings track record. It was dropped from the Featured Stocks list on 10/26/23 but showed resilience and strength since. It was last covered in detail in this FSU section on 10/31/23 with an annotated graph under the headline, "Powerful Gain Following Earnings Report for Arista Networks".

ANET currently has a 97 Earnings Per Share Rating. It has shown 8 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 2,358 in Sep '23, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 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 252 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
ANET - NYSE Arista Networks Computer-Networking	$213.40	-2.31 -1.07%	$219.06	2,015,988 93.20% of 50 DAV 50 DAV is 2,163,000	$223.52 -4.53%	10/31/2023	$188.84	PP = $198.80
								MB = $208.74
Most Recent Note - 12/6/2023 5:46:44 PM G - Ended near the session low today with a small loss after an early gain. Prior highs in the $198 area define near-term support above its 50 DMA line ($201.28). Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Made Gradual Progress Since Latest Breakout - 12/6/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NVO - NYSE Novo Nordisk ADR Medical-Ethical Drugs	$97.59	-2.04 -2.05%	$99.26	3,078,557 65.22% of 50 DAV 50 DAV is 4,720,000	$105.69 -7.66%	11/2/2023	$100.97	PP = $104.10
								MB = $109.31
Most Recent Note - 12/6/2023 5:49:56 PM G - Color code is changed to green as it slumped below its 50 DMA line ($98.09) with today's loss backed by light volume. A prompt rebound above the 50 DMA line is needed for its outlook to improve. It has been repeatedly noted - "Subsequent gains for new highs backed by at least +40% above average volume are needed to trigger a technical buy signal." >>> FEATURED STOCK ARTICLE : Approaching Prior High With Strong Fundamentals - 11/2/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
QLYS - NASDAQ Qualys Computer Sftwr-Security	$185.73	+0.94 0.51%	$188.18	285,137 79.87% of 50 DAV 50 DAV is 357,000	$188.65 -1.55%	11/3/2023	$167.50	PP = $165.03
								MB = $173.28
Most Recent Note - 12/6/2023 5:44:24 PM G - Volume was light today while hovering near all-time high. Prior high ($165) defines initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Powerful Breakout for Qualys - 11/3/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AXON - NASDAQ Axon Enterprise Security/Sfty	$232.34	+0.62 0.27%	$235.65	266,967 57.79% of 50 DAV 50 DAV is 462,000	$236.38 -1.71%	11/8/2023	$127.84	PP = $223.30
								MB = $234.47
Most Recent Note - 12/4/2023 6:25:11 PM Y - Hit a new high as it posted a 3rd consecutive gain and closed near the session high. The recent low ($212.89 on 11/09/23) defines near-term support above its 50 DMA line ($213.63). >>> FEATURED STOCK ARTICLE : Breakout for Axon as it Returns to Featured Stocks List - 11/8/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TDG - NYSE TransDigm Group Aerospace/Defense	$963.51	+8.00 0.84%	$970.94	129,996 52.84% of 50 DAV 50 DAV is 246,000	$1,013.08 -4.89%	11/9/2023	$982.68	PP = $940.10
								MB = $987.11
Most Recent Note - 12/6/2023 5:48:01 PM G - Volume totals have been cooling while consolidating in recent weeks after briefly trading above the $1,000 threshold. Fundamentals remain strong. Prior high ($940) defines initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : TransDigm's Big Gap Up Gain Triggered Technical Buy Signal - 11/9/2023 \| 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
PANW - NASDAQ Palo Alto Networks Computer Sftwr-Security	$287.20	-5.58 -1.91%	$296.15	2,862,152 70.69% of 50 DAV 50 DAV is 4,049,000	$296.85 -3.25%	11/13/2023	$255.90	PP = $266.00
								MB = $279.30
Most Recent Note - 12/4/2023 6:26:34 PM G - Pulled back today with lighter (near average) volume breaking a streak of 6 consecutive gains for new all-time highs. Prior highs in the $265 area define initial support to watch above its 50 DMA line ($252). Fundamentals remain strong after it reported Oct '23 quarterly earnings +66% on +20% sales revenues versus the year-ago period. >>> FEATURED STOCK ARTICLE : Earnings New Due While Perched Near Prior High - 11/13/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
URI - NYSE United Rentals Comml Svcs-Leasing	$476.44	+0.94 0.20%	$488.01	495,220 65.07% of 50 DAV 50 DAV is 761,000	$505.16 -5.69%	12/1/2023	$499.51	PP = $488.73
								MB = $513.17
Most Recent Note - 12/6/2023 5:52:00 PM Y - Pulled back after highlighted in yellow in the 12/01/23 mid-day report with new pivot point cited based on its 11/15/23 high after a cup-with-handle base. More damaging losses would raise greater concerns. >>> FEATURED STOCK ARTICLE : New Breakout For United Rentals - 12/1/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AMPH - NASDAQ Amphastar Pharm Medical-Biomed/Biotech	$58.25	+0.03 0.05%	$59.94	395,746 99.94% of 50 DAV 50 DAV is 396,000	$67.66 -13.91%	12/4/2023	$60.84	PP = $58.35
								MB = $61.27
Most Recent Note - 12/4/2023 12:29:09 PM Y - Color code is changed to yellow with pivot point cited based on its 11/21/23 high after a cup-with-handle base. Rebounding toward its August all-time high, little resistance remains due to overhead supply. A gain and strong close above the pivot point backed by at least +40% above average volume may trigger a proper new technical buy signal. Fundamentals remain strong after it reported Sep '23 quarterly earnings +203% on +50% sales revenues versus the year-ago period. Found support at its 200 DMA line during its consolidation after dropped from the Featured Stocks list on 9/08/23. >>> FEATURED STOCK ARTICLE : Amphastar Pharm on Track for 7th Weekly Gain - 12/4/2023 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TBBK - NASDAQ The Bancorp Banks-Northeast	$38.93	-0.49 -1.24%	$40.99	626,366 177.44% of 50 DAV 50 DAV is 353,000	$41.52 -6.24%	12/4/2023	$39.88	PP = $41.62
								MB = $43.70
Most Recent Note - 12/6/2023 12:42:31 PM Y - Reversed into the red today after an early gain. Pivot point cited was based on its 7/27/23 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. The 4 latest quarterly comparisons through Sep '23 had earnings increases above the +25% minimum guideline (C criteria) versus the year ago period. Annual earnings history has been strong. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : The Bancorp is Perched Near High with Strong Fundamentals - 12/5/2023 \| 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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