FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - FRIDAY, MAY 29TH, 2020

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Indices				NYSE			Nasdaq
DOW	-17.53	25,383.11	-0.07%	Volume	2,407,976,330	+132%	Volume	4,707,375,500	+17%
NASDAQ	+120.88	9,489.87	+1.29%	Advancers	1,412	49%	Advancers	1,674	51%
S&P 500	+14.58	3,044.31	+0.48%	Decliners	1,444	51%	Decliners	1,579	49%
Russell 2000	-6.64	1,394.04	-0.47%	52 Wk Highs	28		52 Wk Highs	82
S&P 600	-8.38	803.11	-1.03%	52 Wk Lows	13		52 Wk Lows	17

Tech-Heavy Nasdaq Continues Leading Major Indices' Rebound
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow slipped 17 points, paring its weekly advance to 3.8%. The S&P 500 gained 0.5% and rose 3% this week. The Nasdaq Composite rallied 1.3%, extending its weekly gains to 1.8%. All three major averages notched their second consecutive monthly advance, with the Dow and S&P 500 both rising more than 4% in May, and the Nasdaq Composite outperforming its peers with a 6.8% rally. Breadth was negative as decliners led advancers by a 4-3 margin on the NYSE and by almost a 2-1 margin on the Nasdaq exchange. The reported volume totals were lower than the prior session on the NYSE and on the Nasdaq exchange. There were 32 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 43 on the prior session. New 52-week highs totals expanded and outnumbered new 52-week 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 recent improvement in new highs totals was noted as an encouraging sign.

Charts used courtesy of www.stockcharts.com

PICTURED: The Nasdaq Composite Index finished -3.5% off its record high hit on 2/19/20. It has made an impressive recovery from the March lows after an abrupt -32% correction.

Stocks finished mixed on the final trading day of the month and week, as investors digested President Trump’s response to China approving new national security laws in Hong Kong. Markets turned positive after the highly anticipated press conference from the White House. President Trump said his administration would move to revoke Hong Kong’s special exemptions, as the city was no longer “sufficiently autonomous.” He also said the U.S. would withdraw from the World Health Organization, and vowed to sanction Chinese officials in retaliation for the new laws.

On the data front, personal income unexpectedly rose 10.5%, while personal spending posted a record drop in April. Core PCE, the Fed’s preferred proxy of inflation, came in slightly below economists’ expectations with a 1% year-over-year gain last month. Treasuries strengthened, with the yield on the 10-year note down four basis points to 0.65%. In commodities, WTI crude rose 3.7% to $34.97/barrel, capping its largest monthly advance on record.

Seven of 11 S&P 500 sectors finished in positive territory, with Health Care and Technology stocks pacing the gains. In earnings, VMware (VMW +9.71%) rose after topping revenue and profit projections. Shares of Salesforce (CRM -3.48%) after cutting its forward guidance.

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, Tech, and Gold & Silver Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Bank Index ($BKX -2.24%) and the Broker/Dealer Index ($XBD -0.93%) both pulled back on Friday. The Retail Index ($RLX +1.35%) posted a solid gain, and the tech sector also had a positive bias as the Semiconductor Index ($SOX +2.65%) outpaced the Networking Index ($NWX +1.24%) and the Biotech Index ($BTK +1.14%). Energy-linked groups had a negative bias as the Oil Services Index ($OSX -1.46%) and Integrated Oil Index ($XOI -0.68%) both fell. The Gold & Silver Index ($XAU +1.41%) notched a gain.

Chart courtesy of www.stockcharts.com

PICTURED: The Bank Index ($BKX -2.24%) pulled back after recently hitting a new recovery high.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	32.45	-0.48	-1.46%	-58.55%
Integrated Oil	$XOI	789.04	-5.44	-0.68%	-37.90%
Semiconductor	$SOX	1,852.49	+47.83	+2.65%	+0.16%
Networking	$NWX	550.40	+6.74	+1.24%	-5.66%
Broker/Dealer	$XBD	260.74	-2.44	-0.93%	-10.21%
Retail	$RLX	2,803.06	+37.34	+1.35%	+14.44%
Gold & Silver	$XAU	120.10	+1.66	+1.40%	+12.33%
Bank	$BKX	74.41	-1.71	-2.25%	-34.36%
Biotech	$BTK	5,636.43	+63.26	+1.14%	+11.23%

Qualys is Extended From Prior Base and Perched Near All-Time High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Qualys Inc (QLYS +$3.66 or +3.28% to $115.32) posted a gain with below average volume today for a second best ever close. It is extended from the previously noted base. The 50-day moving average (DMA) llinne and prior low ($98.24 on 5/04/20) define important near-term support to watch on pullbacks.

It has a 98 earnings Per Share Rating and recently reported Mar '20 quarterly earnings +33% on +14% sales revenues versus the year ago period, continuing its strong earnings track record with its 12th consecutive quarter above the +25% minimum earnings guideline (C criteria). Its annual earnings history (A criteria) has also been very strong an steady. The Computer Software - Security group has a 91 Group Relative Strength Rating, and leadership (L criteria) in the industry group is another favorable factor with respect to the fact-based investment system.

QLYS has traded up as much as +17% since highlighted in yellow with new pivot point cited based on its 2/12/19 high plus 10 cents in the 4/09/20 mid-day report (read here). When it powered to a new all-time highs with big volume-driven gains it was noted, "The volume-driven gains above the pivot point for a new high (N criteria) may be an indication of fresh institutional buying demand that can lead to a meaningful and sustained advance in price."

QLYS was last shown in this FSU section on 5/13/20 with a annotated graph under the headline, "Quiet Pullback Just Below "Max Buy" Level". Its Relative Strength Rating of 94 is well above the 80+ minimum guideline for buy candidates. Currently it has a Timeliness Rating of A and Sponsorship Rating of D. Its Accumulation/Distribution rating is A while its Up/Down Volume Ratio of 1.9 is an unbiased indication its shares have been under accumulation over the past 50 days. The number of top-rated funds owning its shares rose from 294 in Jun '17 to 478 in Mar '20, a reassuring sign concerning the I criteria. Its small supply of only 32.3 million shares (S criteria) in the public float can 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
FTNT - NASDAQ Fortinet Inc Computer Sftwr-Security	$139.20	+4.53 3.36%	$139.49	1,691,714 73.49% of 50 DAV 50 DAV is 2,302,000	$149.69 -7.01%	5/7/2020	$134.40	PP = $121.92
								MB = $128.02
Most Recent Note - 5/28/2020 8:04:38 PM G - Posted a gain today with lighter volume following a pullback of 4 consecutive losses slumping near its "max buy" level. Prior highs in the $121 area define initial support to watch. >>> FEATURED STOCK ARTICLE : Extended From Prior Base and Holding Ground Stubbornly - 5/22/2020 \| 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	$83.49	+1.51 1.84%	$83.63	493,163 94.30% of 50 DAV 50 DAV is 523,000	$90.00 -7.23%	4/24/2020	$72.10	PP = $73.99
								MB = $77.69
Most Recent Note - 5/27/2020 5:40:23 PM G - Managed an impressive "positive reversal" for a small gain today with above average volume after undercutting the 20-day moving average ($81.81). It is extended from the previously noted base. Prior highs in the $71-73 area define initial support to watch on pullbacks. Fundamentals remain strong. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Volume Light Behind Recent Pullback From All-Time High - 5/26/2020 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
NBIX - NASDAQ Neurocrine Biosciences DRUGS - Biotechnology	$124.76	+4.54 3.78%	$124.99	1,128,393 152.49% of 50 DAV 50 DAV is 740,000	$128.29 -2.75%	5/19/2020	$123.71	PP = $119.75
								MB = $125.74
Most Recent Note - 5/29/2020 6:29:20 PM Y - Today it posted its 2nd gain with above average volume in the span of 3 session and finished 4 cents off of its best-ever close .Recent quarterly comparisons through Mar '20 showed greatly improved sales revenues and earnings increases versus year ago periods (C criteria). After years of losses it reported solid annual earnings (A criteria) in FY '18 and '19. >>> FEATURED STOCK ARTICLE : Biotech Firm Has New Parkinson's Treatment Drug Approved by FDA - 5/19/2020 \| 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	$120.12	+0.36 0.30%	$122.11	937,219 90.90% of 50 DAV 50 DAV is 1,031,000	$132.84 -9.58%	5/5/2020	$109.05	PP = $111.95
								MB = $117.55
Most Recent Note - 5/28/2020 4:24:14 PM G - Pulled back with higher volume today for a 2nd consecutive loss after hitting new all-time highs this week. Recent gains above the pivot point lacked the great volume conviction indicative of institutional demand. Prior highs in the $111 area define initial support to watch on pullbacks. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Bullish Action Continues for Top Wood Alternative Firm - 5/20/2020 \| 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	$419.73	+6.29 1.52%	$420.30	5,253,969 57.61% of 50 DAV 50 DAV is 9,120,000	$458.97 -8.55%	5/14/2020	$441.95	PP = $449.62
								MB = $472.10
Most Recent Note - 5/27/2020 5:49:47 PM Y - Managed a "positive reversal" for a gain today backed by above average volume, breaking a streak of 6 consecutive losses with below average volume. Found prompt support near its 50 DMA line ($403) which defines support above prior highs in the $393 area. A rebound and subsequent gains above the pivot point must be backed by at least +40% above average volume to trigger a proper new (or add-on) technical buy signal. Fundamentals remain strong. >>> FEATURED STOCK ARTICLE : Pulling Back After Brief New Base Formation - 5/21/2020 \| 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	$387.93	+9.95 2.63%	$388.23	1,942,693 76.39% of 50 DAV 50 DAV is 2,543,000	$396.15 -2.07%	4/30/2020	$343.05	PP = $363.05
								MB = $381.20
Most Recent Note - 5/27/2020 5:53:29 PM Y - Suffered a loss with above average volume yet finished in the upper third of its intra-day range today. There was a "negative reversal" on the prior session at its all-time high. Color code was changed to yellow after retreating below the "max buy" level. Recent gains above the pivot point were not backed by the +40% above average volume necessary to clinch a proper technical buy signal. Prior highs in the $362 area define initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Consolidating Near Prior High After Wedging Into New High Ground - 5/14/2020 \| 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	$115.32	+3.66 3.28%	$115.41	414,071 72.90% of 50 DAV 50 DAV is 568,000	$117.54 -1.89%	4/9/2020	$100.44	PP = $97.22
								MB = $102.08
Most Recent Note - 5/29/2020 6:23:17 PM G - Posted a quiet gain for its second best ever close. Its 50 DMA line ($100.53) and prior low ($98.24 on 5/04/20) define important near-term support. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Qualys is Extended From Prior Base and Perched Near All-Time High - 5/29/2020 \| 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	$185.30	+6.98 3.91%	$186.12	1,861,777 93.46% of 50 DAV 50 DAV is 1,992,000	$190.21 -2.58%	5/4/2020	$159.70	PP = $156.22
								MB = $164.03
Most Recent Note - 5/29/2020 6:24:42 PM G - Extended from any sound base, it posted a 3rd consecutive gain today for its second best ever close. Prior highs in the $156 area define initial support to watch. >>> FEATURED STOCK ARTICLE : Pullback on Lighter Volume After Gain For New High on Big Volume - 5/18/2020 \| 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	$75.96	+2.76 3.77%	$76.14	792,370 100.17% of 50 DAV 50 DAV is 791,000	$90.10 -15.69%	5/8/2020	$84.86	PP = $90.20
								MB = $94.71
Most Recent Note - 5/29/2020 6:26:55 PM G - Posted a gain today with higher (near average) volume after testing support at its 50 DMA line ($72.48). A rebound and subsequent volume-driven gains above the pivot point are still needed to trigger a technical buy signal. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Quietly Slumping Near 50-Day Moving Average Line - 5/28/2020 \| 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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