FACTBASEDINVESTING.COM - AFTER MARKET UPDATE

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AFTER MARKET UPDATE - WEDNESDAY, JULY 22ND, 2015

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Indices				NYSE			Nasdaq
DOW	-68.25	17,851.04	-0.38%	Volume	821,364,350	+8%	Volume	1,874,512,370	+17%
NASDAQ	-36.35	5,171.77	-0.70%	Advancers	1,298	41%	Advancers	1,353	46%
S&P 500	-5.06	2,114.15	-0.24%	Decliners	1,796	56%	Decliners	1,488	51%
Russell 2000	+3.78	1,258.35	+0.30%	52 Wk Highs	72		52 Wk Highs	103
S&P 600	+1.70	719.42	+0.24%	52 Wk Lows	333		52 Wk Lows	163

Major Averages Fell With Higher Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Stocks moved moderately lower on Wednesday. The Dow lost 68 points to 17851. The S&P 500 closed off 5 points to 2114. The NASDAQ declined 36 points to 5171. Volume totals were reported higher than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by nearly a 3-2 margin on the NYSE and by a narrower 7-6 margin on the Nasdaq exchange. There were 67 high-ranked companies from the

Leaders List that made new 52-week highs and appeared on the BreakOuts Page, up from the prior session total of 57 stocks. However, the total number of new 52-week lows expanded and outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. There were gains for 9 of the 12 high-ranked companies currently on the Featured Stocks Page.

The Nasdaq Composite Index and other major averages recently rallied to new highs or near their record highs. Coupling the indices' improvement with an expansion in leadership (stocks hitting new highs), the latest market (M criteria) action has shown investors reassuring proof that the institutional crowd has a healthy appetite for buying stocks.

Disciplined investors know to buy only the strongest stocks meeting all of the key fundamental and technical criteria. New matches with the fact-based investment system's strict guidelines will be added to the Featured Stocks Page as market action dictates.

Charts courtesy www.stockcharts.com

PICTURED: The Nasdaq Composite Index is consolidating after a sharp rally from below its 50-day moving average line to new record highs.

The major averages retreated as investors digest a slew of disappointing earnings reports. In positive news, a release showed existing home sales were up 3.2% in June, exceeding analyst expectations of a 0.9% increase. A separate, unconfirmed report suggested lawmakers in the United States are considering overhauling the nation’s tax laws regarding multi-national corporations.

Five of the ten sectors in the S&P 500 finished in positive territory. Tech stocks were the laggard amid disappointing quarterly reports from sector stalwarts. Apple (AAPL -4.23%) fell after its release showed slowing iPhone sales and lowered guidance. Microsoft (MSFT -3.68%) fell after posting a quarterly loss, mostly attributable to the company’s Nokia (NOK -0.89%) purchase. Financials were the best performer, led by Citigroup (C +2.10%). Chipotle (CMG +7.84%) pushed consumer discretionary higher, rallying after a positive report highlighted by lower food costs.

The treasury curve flattened as longer maturity bonds experienced strength. The benchmark U.S. 10-year note was unchanged on the day, currently yielding 2.327%.

Commodities were mostly lower. WTI crude tumbled near bear market territory, down 3.4% to $49.13/barrel on the day. COMEX Gold continued to extend losses, retreating 1.1% to $1091.90/ounce. The dollar index moved 0.2% higher.

The Featured Stocks Page shows the most current notes with headline links which direct members into the more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports

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.

Bank Index Rose; Semiconductor Index Suffered a Standout Decline
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.14%) rallied while the Broker/Dealer Index ($XBD +0.09%) finished flat and the Retail Index ($RLX +0.35%) edged higher on Wednesday. The Biotechnology Index ($BTK) was unchanged, meanwhile the Networking Index ($NWX -0.64%) edged lower and the Semiconductor Index ($SOX -2.52%) was a standout decliner weighing the tech sector down. The Oil Services Index ($OSX -1.72%) and the Integrated Oil Index ($XOI -0.75%) both faced additional pressure, and the Gold & Silver Index ($XAU -0.72%) also fell.

Charts courtesy www.stockcharts.com

PICTURED: The Bank Index ($BKX +1.14%) rallied hitting new record highs. The strength from the financial group is a reassuring "leading indicator" which bodes well for the current market rally (M criteria). Longtime readers of this commentary know that the major averages have been prone to their worst downdrafts when financial stocks are weak.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	176.84	-3.09	-1.72%	-16.14%
Integrated Oil	$XOI	1,232.82	-9.31	-0.75%	-8.55%
Semiconductor	$SOX	646.13	-16.73	-2.52%	-5.93%
Networking	$NWX	372.50	-2.39	-0.64%	+4.07%
Broker/Dealer	$XBD	200.10	+0.17	+0.09%	+8.37%
Retail	$RLX	1,199.68	+4.14	+0.35%	+16.17%
Gold & Silver	$XAU	49.65	-0.36	-0.72%	-27.81%
Bank	$BKX	80.41	+0.90	+1.13%	+8.28%
Biotech	$BTK	4,379.90	-0.05	-0.00%	+27.36%

Recent Gains Lacked Volume Conviction; Earnings Report Soon Expected
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Jones Lang Lasalle Inc (JLL +$0.53 or +0.31% to $173.75) has seen its volume totals cooling while consolidating near its all-time high and above support at its 50-day moving average (DMA) line ($171.66). Recent gains above the pivot point lacked the minimum +40% above average volume necessary to trigger a new (or add-on) technical buy signal. Keep in mind that it is due to report Jun '15 earnings on 7/29/15, and volume and volatility often increase near earnings news.

It last appeared in this FSU section on 6/29/15 with annotated graphs under the headline, "Did Not Trigger a New Technical Buy Signal", slumping near its 50-day moving average (DMA) line while broader market weakness (M criteria) raised concerns. Prior lows ($166.68 on 6/09/15) define the next important near-term support to watch where violations would raise greater concerns and trigger a technical sell signal.

Very little resistance remains due to overhead supply, however, it has made limited headway since highlighted in yellow in the 2/03/15 mid-day report (read here) and noted - "Has the look of a valid Secondary Buy point up to +5% above prior highs."

Earnings rose +46%, 55%, +29%, and +147% in the Jun, Sep, Dec '14 and Mar '15 quarterly comparisons versus the year ago periods, respectively, above the +25% minimum earnings guideline (C criteria). The number of top-rated funds owning its shares rose from 513 in Mar '14 to 720 in Jun '15, which is a reassuring sign concerning the I criteria. Its small supply (S criteria) of only 44.4 million shares in the public float contribute to greater price volatility in the event of institutional buying or selling.

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
GSBC - NASDAQ Great Southern Bancorp BANKING - Savings and Loans	$42.55	+0.71 1.70%	$42.98	33,954 109.53% of 50 DAV 50 DAV is 31,000	$42.99 -1.02%	4/27/2015	$40.94	PP = $40.54
								MB = $42.57
Most Recent Note - 7/21/2015 5:47:53 PM Y - Ended near the session low with a loss today on higher volume indicative of distributional pressure Found support recently near prior highs in the $41 area and its 50 DMA line. Damaging losses leading to violations would trigger technical sell signals. >>> FEATURED STOCK ARTICLE : Finding Support Near Prior Highs and 50-Day Moving Average - 7/9/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
BOFI - NASDAQ B O F I Holding Inc BANKING - Savings andamp; Loans	$118.50	+0.67 0.57%	$119.83	187,630 103.09% of 50 DAV 50 DAV is 182,000	$117.93 0.48%	6/10/2015	$101.47	PP = $97.78
								MB = $102.67
Most Recent Note - 7/20/2015 12:05:54 PM G - Hitting yet another new high with today's 4th consecutive gain, getting very extended from its prior base. Its 50 DMA line ($100.94) and prior highs near $97 define important support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Hitting New Highs and Getting More Extended From a Sound Base - 7/10/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
EPAM - NYSE Epam Systems Inc COMPUTER SOFTWARE and SERVICES - Information Technology Service	$74.86	+0.15 0.20%	$75.18	199,955 50.49% of 50 DAV 50 DAV is 396,000	$75.89 -1.36%	5/18/2015	$67.42	PP = $70.59
								MB = $74.12
Most Recent Note - 7/22/2015 4:06:29 PM Y - Still stubbornly holding its ground perched near its all-time high with volume totals cooling, an indication few are headed for the exit. Its 50 DMA line ($71.48) defines support where a violation would trigger a technical sell signal. Due to report earnings on 08/04/15, and volume and volatility often increase near earnings news. >>> FEATURED STOCK ARTICLE : 50 DMA Line Defines Support - 6/30/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
ILMN - NASDAQ Illumina Inc DRUGS - Biotechnology	$217.49	-20.05 -8.44%	$220.00	6,821,176 534.99% of 50 DAV 50 DAV is 1,275,000	$242.37 -10.27%	6/8/2015	$209.97	PP = $213.43
								MB = $224.10
Most Recent Note - 7/22/2015 12:44:39 PM G - Reported earnings +40% on +21% sales revenues for the Jun '14 quarter. Volume and volatility often increase near earnings news. Gapped down today for a considerable loss then rebounded near its 50 DMA line ($214.70) and prior highs in the $213 area defining important chart support. >>> FEATURED STOCK ARTICLE : Still Above Near-Term Support After Pullback on Higher Volume - 7/8/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
VRX - NYSE Valeant Pharmaceuticals DRUGS - Drug Manufacturers - Other	$238.92	-1.67 -0.69%	$240.80	1,388,827 89.31% of 50 DAV 50 DAV is 1,555,000	$246.01 -2.88%	7/14/2015	$236.75	PP = $246.11
								MB = $258.42
Most Recent Note - 7/22/2015 6:37:07 PM Y - Due to report earnings 7/23/15 and volume and volatility often increase near earnings news. Still quietly perched within close striking distance of its 52-week high. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal. The 50 DMA line ($231) and recent low ($219.56 on 6/29/15) define near-term support levels to watch. >>> FEATURED STOCK ARTICLE : New Base Has Formed and Earnings News is Due Soon - 7/14/2015 \| 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
AMBA - NASDAQ Ambarella Inc ELECTRONICS - Semiconductor - Specialized	$122.50	+4.32 3.66%	$123.99	4,104,607 102.82% of 50 DAV 50 DAV is 3,992,000	$128.06 -4.34%	5/1/2015	$75.99	PP = $77.49
								MB = $81.36
Most Recent Note - 7/22/2015 4:03:26 PM G - Rallied to its second-best close ever with today's 5th consecutive gain. The 50 DMA line and recent low ($93.06 on 6/22/15) define near-term support where violations would trigger technical sell signals. >>> FEATURED STOCK ARTICLE : Found Support Above 50-Day Moving Average After Sharp Pullback - 7/17/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
ACHC - NASDAQ Acadia Healthcare Inc HEALTH SERVICES - Specialized Health Services	$79.72	+0.04 0.05%	$79.89	553,430 73.01% of 50 DAV 50 DAV is 758,000	$81.76 -2.50%	5/27/2015	$73.90	PP = $74.19
								MB = $77.90
Most Recent Note - 7/22/2015 4:05:01 PM G - Pulled back today for a 4th consecutive small loss. Still holding its ground above its "max buy" level with volume-totals cooling, an indication few are headed for the exit. Prior highs in the $74-75 area define near-term support to watch above its 50 DMA line ($75.15). >>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched at High - 7/15/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
APOG - NASDAQ Apogee Enterprises MATERIALS and CONSTRUCTION - General Building Materials	$56.81	+2.58 4.76%	$57.33	486,922 156.57% of 50 DAV 50 DAV is 311,000	$61.05 -6.94%	4/9/2015	$49.58	PP = $48.13
								MB = $50.54
Most Recent Note - 7/22/2015 4:01:02 PM Y - Color code is changed to yellow after rebounding above its 50 DMA line with today's volume-driven gain helping its outlook improve. Damaging losses below recent low ($50.07 on 7/07/15) would raise greater concerns. >>> FEATURED STOCK ARTICLE : Sputtering After Damaging 50-Day Moving Average Violation - 7/13/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
JLL - NYSE Jones Lang Lasalle Inc REAL ESTATE - Property Management/Developmen	$173.75	+0.53 0.31%	$175.07	235,560 67.88% of 50 DAV 50 DAV is 347,000	$177.11 -1.90%	6/4/2015	$172.34	PP = $174.93
								MB = $183.68
Most Recent Note - 7/22/2015 6:32:26 PM Y - Above support at its 50 DMA line. Recent gains above the pivot point lacked the minimum +40% above average volume necessary to trigger a new (or add-on) technical buy signal. See the latest FSU analysis for additional details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Recent Gains Lacked Volume Conviction; Earnings Report Soon Expected - 7/22/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
ULTA - NASDAQ Ulta Salon Cosm & Frag SPECIALTY RETAIL - Specialty Retail, Other	$170.52	+3.73 2.24%	$170.75	598,326 72.88% of 50 DAV 50 DAV is 821,000	$169.31 0.71%	5/29/2015	$155.03	PP = $159.95
								MB = $167.95
Most Recent Note - 7/20/2015 5:54:47 PM G - Color code is changed to green while perched near its "max buy" level after recent gains lacking volume conviction. Prior highs near $159 define initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Near "Max Buy" Level, But Recent Gains Lacked Great Volume Conviction - 7/20/2015 \| 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
LXFT - NYSE Luxoft Holding Inc Cl A Comp Sftwr-Spec Enterprs	$62.00	-0.14 -0.23%	$62.31	184,276 74.91% of 50 DAV 50 DAV is 246,000	$63.00 -1.59%	5/26/2015	$51.90	PP = $57.40
								MB = $60.27
Most Recent Note - 7/20/2015 5:56:20 PM G - Pulled back today with lighter volume. Prior highs define near-term support above its 50 DMA line. Subsequent violations would trigger technical sell signals. >>> FEATURED STOCK ARTICLE : Extended From Base After Wedging Higher - 7/16/2015 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
PANW - NYSE Palo Alto Networks Computer Sftwr-Security	$192.40	+0.33 0.17%	$193.78	1,016,377 69.71% of 50 DAV 50 DAV is 1,458,000	$192.70 -0.16%	3/27/2015	$146.44	PP = $149.45
								MB = $156.92
Most Recent Note - 7/21/2015 5:42:53 PM G - Wedged further into new high territory with today's gain lacking great volume conviction, getting more extended from any sound base. Recent lows and its 50 DMA line define the nearest chart support to watch. See the latest FSU analysis for more details and new annotated graphs. >>> FEATURED STOCK ARTICLE : Wedging to New Highs After Brief Consolidation - 7/21/2015 \| 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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