FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - MONDAY, MAY 11TH, 2020

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Indices				NYSE			Nasdaq
DOW	-109.33	24,221.99	-0.45%	Volume	1,004,342,895	+11%	Volume	3,855,772,300	+2%
NASDAQ	+71.02	9,192.34	+0.78%	Advancers	1,003	35%	Advancers	1,444	44%
S&P 500	+0.39	2,930.19	+0.01%	Decliners	1,844	65%	Decliners	1,800	55%
Russell 2000	-8.40	1,321.24	-0.63%	52 Wk Highs	34		52 Wk Highs	119
S&P 600	-14.11	756.76	-1.83%	52 Wk Lows	14		52 Wk Lows	15

Leadership Improved But Major Indices Ended Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow lost 109 points, while the S&P 500 reversed direction to edge less than 0.1% higher. The Nasdaq Composite climbed 0.8% on its sixth-straight advance and longest stretch of gains since December. The Tech-heavy index is now up 2.5% year-to-date and within 6.4% of its all-time high reached in February. Breadth was negative as decliners led advancers by a 9-5 margin on the NYSE and 9-7 on the Nasdaq exchange. The reported volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. There were 49 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, up from 33 on the prior session. New 52-week highs expanded and outnumbered new lows totals on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Any sustainable rally requires a healthy crop of new leaders, so the latest improvement is a reassuring sign.

Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index rebounded above its 50-day moving average (DMA) line from the March low, yet it remains below its 200 DMA line and -13.6% off its record high hit on 2/19/20

Stocks finished mixed on Monday as investors weighed the possibility of a resurgence in COVID-19 infections against optimism for a quick recovery as more economies around the globe reopened.

Seven of 11 S&P 500 sectors closed in negative territory with Financials lagging the most. Health Care shares outperformed, with Cardinal Health (CAH +6.74%) rose following a top and bottom line beat. In other earnings, Marriott International (MAR -5.58%) fell after its quarterly profit missed consensus estimates by a wide margin. Elsewhere, General Mills (GIS +1.76%) rose after increasing its forward guidance to reflect better-than-expected demand for some of its food products in March and April. In the retail space, Under Armour (UA -10.51%) slumped following a wider-than-anticipated loss during the first quarter. In other corporate news, NVIDIA (NVDA +3.24%) rose to a record high on the heels of a significant analyst price target increase. Elsewhere, AMC Entertainment (AMC +29.79%) surged amid reports that Amazon (AMZN +1.24%) has shown interest in acquiring the movie theater.

Treasuries weakened, with the yield on the 10-year note up four basis points to 0.71%. In commodities, WTI crude declined after posting its first back-to-back weekly gain since February. Meanwhile, a gauge of the U.S. dollar strengthened 0.4%.

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 Biotech Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Bank Index ($BKX -3.70%) and the Broker/Dealer Index ($XBD -1.44%) both lost ground on Monday. The Retail Index ($RLX +0.83%) rose. The tech sector was mixed as the Biotech Index ($BTK +3.74%) posted a solid gain, but the Networking Index ($NWX -1.24%) ended lower and the Semiconductor Index ($SOX -0.07%) finished flat. Commodity-linked groups also had a negative bias as the Oil Services Index ($OSX -1.56%), Integrated Oil Index ($XOI -1.79%), and the Gold & Silver Index ($XAU -3.27%) each fell.

Charts courtesy of www.stockcharts.com

PICTURED: The Networking Index ($NWX -1.24%) has recently met resistance at its 200-day moving average (DMA) line after rebounding impressively from the March low.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	29.91	-0.47	-1.55%	-61.80%
Integrated Oil	$XOI	782.33	-14.27	-1.79%	-38.43%
Semiconductor	$SOX	1,774.31	-1.30	-0.07%	-4.07%
Networking	$NWX	533.03	-6.69	-1.24%	-8.64%
Broker/Dealer	$XBD	241.89	-3.54	-1.44%	-16.70%
Retail	$RLX	2,683.64	+22.20	+0.83%	+9.57%
Gold & Silver	$XAU	118.09	-4.00	-3.28%	+10.45%
Bank	$BKX	68.51	-2.63	-3.70%	-39.56%
Biotech	$BTK	5,569.48	+200.80	+3.74%	+9.91%

Encountered Distributional Pressure After Hitting New High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Sapiens Intl Corp (SPNS +$0.46 or +1.80% to $26.03) was highlighted in yellow with pivot point cited based on its 1/24/20 high plus 10 cents in the earlier mid-day report (read here). It powered to a new 52-week high with today's big volume-driven gain, but it erased much of the early gain and ended in the lower third of its intra-day range, an indication that it was encountering distributional pressure. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to clinch a convincing technical buy signal.

Keep in mind that it is due to report Mar '20 quarterly earnings news on 5/14/20. Volume and volatility often increase near earnings news. It last reported earnings +31% on +18% sales revenues for the Dec '19 quarter versus the year ago period, its 5th consecutive quarterly comparison above the +25% minimum guideline (C criteria). This Israel-based Computer - Tech Services firm's annual earnings (A criteria) history included a downturn in FY '17, a noted fundamental flaw, however, it has a 91 Earnings Per Share rating.

There is a small supply of only 50.2 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 104 in Jun '19 to 129 in Mar '20, a reassuring sign concerning the I criteria. It has a Timeliness Rating of B and an Accumulation/Distribution 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
FTNT - NASDAQ Fortinet Inc Computer Sftwr-Security	$140.46	+3.62 2.65%	$142.36	1,853,849 72.67% of 50 DAV 50 DAV is 2,551,000	$137.08 2.47%	5/7/2020	$134.40	PP = $121.92
								MB = $128.02
Most Recent Note - 5/11/2020 5:28:24 PM G - Color code was changed to green after quickly rallying well above its "max buy" level and getting extended from the prior base. Prior highs in the $121 area define initial support to watch on pullbacks. Finished strong after highlighted in yellow in the 5/07/20 mid-day report. Fundamentals remain strong. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Gap Up and Big Volume-Driven Gain for Computer Security Firm - 5/7/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
SPNS - NASDAQ Sapiens Intl Corp COMPUTER SOFTWARE and SERVICES - Technical and System Software	$26.03	+0.46 1.80%	$29.24	786,655 629.32% of 50 DAV 50 DAV is 125,000	$26.86 -3.09%	5/11/2020	$27.80	PP = $26.96
								MB = $28.31
Most Recent Note - 5/11/2020 5:18:09 PM Y - Finished weak after highlighted in yellow with pivot point cited based on its 1/24/20 high plus 10 cents in the earlier mid-day report. Powered to a new 52-week high today but promptly encountered distributional pressure. Due to report Mar '20 quarterly earnings news on 5/14/20. Volume and volatility often increase near earnings news. Reported earnings +31% on +18% sales revenues for the Dec '19 quarter versus the year ago period, its 5th consecutive quarterly comparison above the +25% minimum guideline (C criteria). This Israel-based Computer - Tech Services firm's annual earnings (A criteria) included a downturn in FY '17, however, it has a 91 Earnings Per Share rating. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure After Hitting New High - 5/11/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
EBS - NYSE Emergent Biosolutions DRUGS - Biotechnology	$84.55	+3.82 4.73%	$85.59	499,149 86.06% of 50 DAV 50 DAV is 580,000	$83.01 1.86%	4/24/2020	$72.10	PP = $73.99
								MB = $77.69
Most Recent Note - 5/11/2020 5:20:03 PM G - Hit a new all-time high with a solid gain today backed by below average volume. Prior highs in the $71-73 area define initial support to watch on pullbacks. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Light Volume Gain for New High Close Caps 7th Straight Weekly Gain - 5/8/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TREX - NYSE Trex Company Inc MATERIALS and CONSTRUCTION - General Building Materials	$117.42	+2.33 2.02%	$118.38	986,353 90.16% of 50 DAV 50 DAV is 1,094,000	$115.70 1.49%	5/5/2020	$109.05	PP = $111.95
								MB = $117.55
Most Recent Note - 5/8/2020 5:27:24 PM Y - Posted a gain today with below average volume as it hit a new all-time high approaching its "max buy" level. Gains above the pivot point must be backed by at least +40% above average volume to trigger a proper technical buy signal. Has a new CEO as of 4/29/20. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Gapped Up for Volume-Driven Gain and Hit a New All-Time High - 5/5/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NFLX - NASDAQ Netflix Inc SPECIALTY RETAIL - Music and Video Stores	$440.52	+4.97 1.14%	$444.89	5,340,658 55.86% of 50 DAV 50 DAV is 9,560,000	$449.52 -2.00%	4/13/2020	$393.60	PP = $393.62
								MB = $413.30
Most Recent Note - 5/11/2020 5:23:59 PM G - Posted another small gain today with light volume for a best-ever close. Prior highs in the $393 area acted as support following the recent breakout. Fundamentals remain strong after it reported earnings +107% on +28% sales revenues for the Mar '20 quarter versus the year ago period. >>> FEATURED STOCK ARTICLE : Prior Highs Acted as Support Following Recent Breakout - 5/6/2020 \| 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
NOW - NYSE Servicenow Inc Computer Sftwr-Enterprse	$383.65	+6.39 1.69%	$388.50	1,573,339 55.60% of 50 DAV 50 DAV is 2,830,000	$387.60 -1.02%	4/30/2020	$343.05	PP = $363.05
								MB = $381.20
Most Recent Note - 5/7/2020 6:41:21 PM Y - Hit another new high challenging its "max buy" level with today's big gain backed by near average volume. Gains above the pivot point should be backed by at least +40% above average volume to clinch a proper technical buy signal. >>> FEATURED STOCK ARTICLE : Fundamental Strength Continues; Volume Heavy Behind Big Gain - 4/30/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
QLYS - NASDAQ Qualys Inc Computer Sftwr-Security	$106.52	+2.12 2.03%	$107.32	913,196 161.06% of 50 DAV 50 DAV is 567,000	$111.79 -4.71%	4/9/2020	$100.44	PP = $97.22
								MB = $102.08
Most Recent Note - 5/8/2020 5:23:53 PM G - Color code is changed to green after finishing the session above its "max buy" level. Pulled back after reporting Mar '20 quarterly earnings +33% on +14% sales revenues versus the year ago period, continuing its strong earnings track record. Volume and volatility often increase near earnings news. Abruptly retreated from its new all-time high hit in the prior session. Prior highs in the $97 area recently acted as support. >>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Stubbornly Holding Ground Near High - 4/27/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TEAM - NASDAQ Atlassian Corp Plc Cl A Comp Sftwr-Spec Enterprs	$176.60	+0.41 0.23%	$180.46	1,266,500 60.28% of 50 DAV 50 DAV is 2,101,000	$182.60 -3.29%	5/4/2020	$159.70	PP = $156.22
								MB = $164.03
Most Recent Note - 5/7/2020 6:45:57 PM G - Posted a 4th consecutive gain today, getting more extended from the previously noted base. Prior highs in the $156 area define initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Volume-Driven Gain For New All-Time High - 5/4/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
AAXN - NASDAQ Axon Enterprise Inc Security/Sfty	$84.92	-1.21 -1.40%	$89.43	1,357,073 154.92% of 50 DAV 50 DAV is 876,000	$90.10 -5.75%	5/8/2020	$84.86	PP = $90.20
								MB = $94.71
Most Recent Note - 5/11/2020 12:32:55 PM Y - Challenged its 52-week high with today's early gain. Finished strong after highlighted in yellow in the 5/08/20 mid-day report with pivot point cited based upon its 2/19/20 high plus 10 cents. Subsequent volume-driven gains above the pivot point may trigger a technical buy signal. There are no Featured Stock Updates™ available for this stock at this time. You may request one by clicking the Request a New Note link below \| 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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