FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - MONDAY, DECEMBER 9TH, 2019

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Indices				NYSE			Nasdaq
DOW	-105.46	27,909.60	-0.38%	Volume	860,565,750	+1%	Volume	2,067,454,940	+3%
NASDAQ	-34.70	8,621.83	-0.40%	Advancers	1,488	52%	Advancers	1,353	43%
S&P 500	-9.95	3,135.96	-0.32%	Decliners	1,394	48%	Decliners	1,766	57%
Russell 2000	-4.22	1,629.62	-0.26%	52 Wk Highs	106		52 Wk Highs	122
S&P 600	-3.07	999.06	-0.31%	52 Wk Lows	18		52 Wk Lows	59

Major Indices Pulled Back With Less Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow slipped 105 points, breaking a three day winning streak. The S&P 500 declined 0.3%, while the Nasdaq Composite dropped 0.4%. Advancers led decliners by a narrow margin on the NYSE but decliners led advancers by a 9-7 margin on the Nasdaq exchange. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Leadership thinned as there were 40 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 68 on the prior session. New 52-week highs totals contracted yet solidly outnumbered new 52-week lows totals 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 Dow Jones Industrial Average is near its record high. It recently found support near prior highs and above its 50-day moving average (DMA) line.

Stocks finished lower Monday as investors braced for a potentially busy week of geopolitical updates and potential market catalysts. U.S.-China trade developments remain in focus ahead of the December 15th tariff deadline, in which Washington is scheduled to implement duties on $156 billion of Chinese consumer products. The session’s losses followed Friday’s session in which stocks rebounded following a robust November jobs report.

Global economic data was in focus, with a report showing Chinese exports unexpectedly fell 1.1% year-over-year in November. In the U.S. there were no notable economic updates. Treasuries were little changed, with the yield on the 10-year note down one basis points to 1.83%. Later this week, global central banks will grab headlines with both the U.S. Federal Reserve and European Central Bank holding policy meetings.

Eight of 11 S&P 500 sectors declined with Health Care and Utilities shares leading the laggards. In corporate news, Boeing (BA -0.81%) and Apple (AAPL -1.40%) both weighed on the Dow. Merck (MRK -0.15%) finished slightly lower after announcing the acquisition of cancer drug maker ArQule (ARQL +103.83%) for roughly $2.7 billion. Texas Capital Bancshares (TCBI +9.67%) and Independent Bank Group (IBTX +3.97%) rose following an all-stock merger of equals valued at $5.5 billion.

Over in Europe, Thursday’s general election in Britain will garner attention, as the vote will decide the future of Brexit. In commodities, WTI crude lost 0.4% to $58.97/barrel after advancing roughly 7% last week.

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.

Broker/Dealer and Tech Indices Lost Ground
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Retail Index ($RLX +0.18%) eked out a small gain and the Bank Index ($BKX -0.09%) finished flat while the Broker/Dealer Index ($XBD -0.73%) fell. The tech sector had a negative bias as the Semiconductor Index ($SOX -0.54%), Biotech Index ($BTK -0.69%) and the Networking Index ($NWX -0.65%) finished unanimously lower. The Gold & Silver Index ($XAU -0.05%) and the Oil Services Index ($OSX +0.08%) both were little changed while the Integrated Oil Index ($XOI -0.59%) edged lower.

Charts courtesy of www.stockcharts.com

PICTURED: The Biotech Index ($BTK -0.69%) has been rebounding toward its 2019 high.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	71.47	+0.06	+0.08%	-11.33%
Integrated Oil	$XOI	1,210.84	-7.24	-0.59%	+4.46%
Semiconductor	$SOX	1,714.98	-9.23	-0.54%	+48.46%
Networking	$NWX	559.32	-3.69	-0.66%	+14.46%
Broker/Dealer	$XBD	286.80	-2.11	-0.73%	+20.84%
Retail	$RLX	2,366.22	+4.15	+0.18%	+21.26%
Gold & Silver	$XAU	95.85	-0.05	-0.05%	+35.65%
Bank	$BKX	110.84	-0.11	-0.10%	+29.20%
Biotech	$BTK	5,041.31	-35.18	-0.69%	+19.44%

Met Resistance After Rebounding Near Prior High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Churchill Downs Inc (CHDN -$0.28 or -0.21% to $131.13) remains quietly perched within close striking distance of its 52-week high. It undercut its 50 DMA line and then rebounded but met resistance near the prior high during the latest 6-week base. A new pivot point has not been cited due to previously noted fundamental concerns. Its 50-day moving average (DMA) line ($128.77) defines near-term support above the prior low ($121.81 on 11/07/19).

It has shown resilience following damaging volume-driven losses after it reported Sep '19 earnings +4% on +38% sales revenues versus the year ago period, its 2nd consecutive quarterly comparison below the +25% minimum earnings guideline (C criteria). Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 87. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.

The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of B+.

CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 11/18/19 with an annotated graph under the headline, "Resilience Shown Despite Another Sub Par Earnings Report".

The number of top-rated funds owning its shares rose from 333 in Jun '17 to 459 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 39.8 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.

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	$36.07	+0.25 0.70%	$36.27	42,013 93.36% of 50 DAV 50 DAV is 45,000	$37.70 -4.32%	9/24/2019	$34.00	PP = $35.36
								MB = $37.13
Most Recent Note - 12/4/2019 5:45:57 PM Y - Pulled back today for a 4th consecutive loss with light volume, remaining near its 52-week high. Prior highs in the $35 area define initial support above its 50 DMA line ($34.39). Showed resilience after recently reporting earnings which were below the fundamental guidelines of the fact-based investment system. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Miller Still Quietly Hovering Above Prior Highs - 12/4/2019 \| 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	$29.05	+0.17 0.59%	$29.25	25,460 65.28% of 50 DAV 50 DAV is 39,000	$30.85 -5.83%	9/13/2019	$27.03	PP = $27.05
								MB = $28.40
Most Recent Note - 12/4/2019 5:49:11 PM G - Posted a gain today with light volume after it tested its 50 DMA line ($28.31) and prior highs which define important support to watch. More damaging losses would raise concerns and trigger a technical sell signal. >>> 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	$103.85	+0.26 0.25%	$104.56	672,624 48.78% of 50 DAV 50 DAV is 1,379,000	$106.00 -2.03%	12/9/2019	$103.85	PP = $106.10
								MB = $111.41
Most Recent Note - 12/9/2019 5:34:56 PM Y - Color code is changed to yellow with new pivot point cited based on its 11/20/19 high plus 10 cents after forming an advanced 3-weeks tight base pattern. Volume totals have been cooling while still stubbornly holding its ground. 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	$55.66	+0.04 0.07%	$55.92	173,145 84.46% of 50 DAV 50 DAV is 205,000	$59.14 -5.88%	11/29/2019	$56.59	PP = $59.24
								MB = $62.20
Most Recent Note - 12/4/2019 5:56:20 PM Y - Finished lower with today's 5th consecutive loss after stalling 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. Fundamentals remain strong. >>> 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	$23.47	-0.29 -1.22%	$23.80	172,339 63.13% of 50 DAV 50 DAV is 273,000	$25.04 -6.27%	9/13/2019	$19.68	PP = $19.84
								MB = $20.83
Most Recent Note - 12/4/2019 12:42:22 PM G - Inching into new high territory with today's 3rd consecutive gain adding to a spurt of gains marked by near average volume. Prior highs in the $22 area define initial support above its 50 DMA line ($20.65). 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	$131.13	-0.28 -0.21%	$131.90	177,202 60.48% of 50 DAV 50 DAV is 293,000	$135.32 -3.10%	10/8/2019	$129.77	PP = $132.83
								MB = $139.47
Most Recent Note - 12/9/2019 5:31:50 PM G - Quietly perched within close striking distance of its 52-week high. Its 50 DMA line ($128.77) 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. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Met Resistance After Rebounding Near Prior High - 12/9/2019 \| 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	$230.88	+1.50 0.65%	$233.53	2,079,532 132.12% of 50 DAV 50 DAV is 1,574,000	$233.12 -0.96%	9/6/2019	$201.25	PP = $194.35
								MB = $204.07
Most Recent Note - 12/9/2019 12:33:13 PM G - Extended from any sound base and quietly inching into new all-time high territory with recent gains lacking great volume conviction. Its 50 DMA line ($208.34) defines important near-term support to watch along with prior highs. >>> 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	$88.20	-0.38 -0.43%	$88.66	1,900,795 114.16% of 50 DAV 50 DAV is 1,665,000	$92.41 -4.56%	9/5/2019	$79.13	PP = $79.84
								MB = $83.83
Most Recent Note - 12/9/2019 12:11:56 PM G - Consolidating after getting extended from any sound base. The 50 DMA line ($83.92) 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	$33.61	+0.17 0.51%	$33.98	390,019 89.25% of 50 DAV 50 DAV is 437,000	$34.50 -2.58%	11/8/2019	$32.89	PP = $31.44
								MB = $33.01
Most Recent Note - 12/4/2019 5:51:40 PM G - Consolidating above prior highs in the $30-31 area which define initial support along with its 50 DMA line ($30.04). >>> 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	$149.75	+1.86 1.26%	$150.71	1,909,945 103.46% of 50 DAV 50 DAV is 1,846,000	$152.68 -1.92%	11/25/2019	$147.79	PP = $142.16
								MB = $149.27
Most Recent Note - 12/4/2019 5:54:07 PM Y - Color code is changed to yellow after quietly pulling back below 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	$268.80	+0.01 0.00%	$271.50	256,978 44.46% of 50 DAV 50 DAV is 578,000	$279.95 -3.98%	11/20/2019	$252.97	PP = $259.81
								MB = $272.80
Most Recent Note - 12/9/2019 5:37:04 PM Y - Color code is changed to yellow while quietly consolidating just below its "max buy" level. 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	$109.71	+0.34 0.31%	$110.98	212,270 79.21% of 50 DAV 50 DAV is 268,000	$113.74 -3.54%	5/17/2019	$82.19	PP = $87.31
								MB = $91.68
Most Recent Note - 12/9/2019 5:41:10 PM Y - Color code is changed to yellow after a tight consolidation, with new pivot point cited based on its 11/27/19 high plus 10 cents. Subsequent gains for new highs back by at least +40% above average volume are needed to trigger a new (or add-on) technical buy signal. 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 ($103.82) acted as support during its ongoing ascent. >>> FEATURED STOCK ARTICLE : Consolidating After Getting Extended From Any Sound Base - 12/3/2019 \| 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	$101.84	-1.50 -1.45%	$102.91	110,629 41.13% of 50 DAV 50 DAV is 269,000	$112.33 -9.34%	11/14/2019	$106.87	PP = $112.43
								MB = $118.05
Most Recent Note - 12/5/2019 5:11:28 PM G - Posted a 2nd consecutive gain with light volume. Found support after again slumping near its 50 DMA line ($97.43) with volume-driven losses. Prior lows and its 200 DMA line define the next important support to watch. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Found Support at 50-Day Average During Choppy Consolidation - 12/5/2019 \| 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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