FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Thursday, December 20th, 2018

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AFTER MARKET UPDATE - THURSDAY, DECEMBER 20TH, 2018

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Indices				NYSE			Nasdaq
DOW	-464.06	22,859.60	-1.99%	Volume	1,394,769,210	+9%	Volume	3,248,579,600	+12%
NASDAQ	-108.42	6,528.41	-1.63%	Advancers	571	20%	Advancers	721	23%
S&P 500	-39.54	2,467.42	-1.58%	Decliners	2,334	80%	Decliners	2,363	77%
Russell 2000	-23.23	1,326.00	-1.72%	52 Wk Highs	3		52 Wk Highs	7
S&P 600	-12.36	828.10	-1.47%	52 Wk Lows	1,266		52 Wk Lows	1,132

Correction for Nasdaq Composite Index Reaches Bear Market Territory
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Stocks finished lower Thursday. The Dow declined 464 points to 22859, bringing its five session sell-off to more than 1,700 points. The S&P 500 dipped 39 points to 2,467. The Nasdaq Composite lost 108 points to 6,528, just a few points shy of falling into bear market territory. The volume totals on the session were even higher than the prior session totals on the NYSE and on the Nasdaq exchange, indicative of more intense distributional pressure. Decliners led advancers by more than a 4-1 margin on the NYSE and more than a 3-1 margin on the Nasdaq exchange. Leadership evaporated completely as zero high-ranked companies from the Leaders List made a new 52-week high and were listed on the BreakOuts Page. New 52-week lows totals expanded greatly and solidly outnumbered new 52-week highs totals which were in the single digits on both the NYSE and on the Nasdaq exchange. As noted in prior commentaries, the major indices (M criteria) are in a correction. Disciplined investors reduce exposure to protect capital in bad markets and wait for a new rally and solid follow-through day to eventually shift the market direction (M criteria) back to a bullish stance. The Featured Stocks Page provides the most timely analysis on high-ranked leaders.

Charts used courtesy of www.stockcharts.com

PICTURED: The Nasdaq Composite Index slumped and traded -20% off its record high from August, reaching the "Bear Market" threshold, sinking to levels not seen since September 2017.

U.S. equities extended losses as investors continued to digest yesterday’s Federal Reserve meeting. Political proceedings also weighed on sentiment, as stocks hit their session lows following a report that President Trump will not sign a Congressional stop-gap bill which would prevent a partial government shut down on Friday. On the data front, initial jobless claims remained near a 50-year low, while an index of leading indicators advanced 0.2% in November, topping expectations of a flat reading. Separately, the Philadelphia Fed business outlook for December fell to the lowest reading since August 2016.

Ten of 11 S&P 500 sectors finished lower with only Utilities advancing. Energy stocks led the descent as WTI crude slumped another 4.8% to a 16-month low of $45.88/barrel. The Technology and Consumer Discretionary groups also underperformed with the oft-cited FAANG group losing 3%. Apple (AAPL -2.5%) and Amazon (AMZN -2.3%) slumped.

Treasuries walked back some of yesterday’s rally, with the yield on the 10-year note adding four basis points to 2.80%. In commodities, COMEX gold advanced 0.9% to $1,263.60/ounce as the U.S. dollar retreated to the lowest level in six weeks.

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, Tech, Retail, and Financial Groups Sank
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Retail Index ($RLX -2.09%), Broker/Dealer Index ($XBD -0.87%), and the Bank Index ($BKX -0.468%) created a drag on the major indices. The tech sector had a negative bias as the Semiconductor Index ($SOX -0.86%), Biotech Index ($BTK -2.11%) and Networking Index ($NWX -1.36%) ended unanimously lower. The Oil Services Index ($OSX -4.94%) and Integrated Oil Index ($XOI -2.51%) both slumped, meanwhile, the Gold & Silver Index's ($XAU +4.78%) rebound made it a standout gainer.

Charts courtesy of www.stockcharts.com

PICTURED: The 5-year graph of the Oil Services Index ($OSX -4.94%) illustrates the severity of the late 2018 slump to new multi-year lows.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	78.74	-4.09	-4.94%	-47.35%
Integrated Oil	$XOI	1,144.45	-29.42	-2.51%	-14.31%
Semiconductor	$SOX	1,117.74	-9.70	-0.86%	-10.80%
Networking	$NWX	475.69	-6.55	-1.36%	-3.03%
Broker/Dealer	$XBD	231.06	-2.03	-0.87%	-12.89%
Retail	$RLX	1,884.46	-40.24	-2.09%	+8.69%
Gold & Silver	$XAU	69.79	+3.18	+4.77%	-18.15%
Bank	$BKX	84.09	-0.38	-0.45%	-21.20%
Biotech	$BTK	4,097.21	-88.39	-2.11%	-2.96%

Failed to Produce Buy Signal and Deterioration Raised Concern
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Miller Industries Inc (MLR -$0.65 or -2.42% to $26.22) fell and its color code was changed to green after a gap down today. It violated both its 50-day and 200-day moving average (DMA) lines with a damaging loss triggering a technical sell signal and raising serious concerns. Resistance remains due to overhead supply up to the $29 level. A rebound and subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a technical buy signal.

It encountered distributional pressure and finished lower after highlighted in yellow with pivot point cited based on its 8/10/18 high plus 10 cents in the 11/30/18 mid-day report (read here). Disciplined investors will note that it did not produce the gains above the pivot point backed by at least +40% above average volume needed to trigger a technical buy signal after last shown in this FSU section on 12/03/18 with an annotated graph under the headline, "Perched Within Striking Distance of All Time High".

It reported earnings +95% on +28% sales revenues for the Sep '18 quarter. Recent quarterly comparisons have been above the +25% minimum earnings guideline (C criteria) and, sequentially, showed encouraging sales revenues acceleration. Annual earnings history (A criteria) has also been good. Very small supply of only 11.4 million shares outstanding (A criteria) 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 196 in Mar '18 to 222 in Sep '18, a reassuring sign. The current Up/Down Volume Ratio of 1.0 is an unbiased indication its shares have been neutral concerning accumulation/distribution over the past 50 days. It has earned an A Timeliness rating and a C Sponsorship Rating.

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	$26.22	-0.65 -2.42%	$26.76	62,844 196.39% of 50 DAV 50 DAV is 32,000	$29.40 -10.82%	11/30/2018	$28.35	PP = $29.50
								MB = $30.98
Most Recent Note - 12/20/2018 6:49:21 PM G - Color code was changed to green after a gap down today, and it slumped below its closely coinciding 50-day and 200-day moving average (DMA) lines. Resistance remains due to overhead supply up to the $29 level. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Failed to Produce Buy Signal and Deterioration Raised Concern - 12/20/2018 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
ZBRA - NASDAQ Zebra Tech Corp Cl A COMPUTER HARDWARE - Computer Peripherals	$150.99	-8.05 -5.06%	$160.97	605,464 121.58% of 50 DAV 50 DAV is 498,000	$184.75 -18.27%	11/6/2018	$170.41	PP = $179.57
								MB = $188.55
Most Recent Note - 12/20/2018 6:27:50 PM Triggered a more worrisome technical sell signal as a big loss today violated its 200 DMA line ($156) amid broader market weakness. It will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line ($168) is needed for its outlook to improve. >>> FEATURED STOCK ARTICLE : Consolidating Above 200-Day Moving Average - 12/18/2018 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
CME - NASDAQ C M E Group Inc DIVERSIFIED SERVICES - Business/Management Services	$184.90	-0.63 -0.34%	$187.96	2,645,583 115.78% of 50 DAV 50 DAV is 2,285,000	$197.08 -6.18%	10/4/2018	$179.29	PP = $177.45
								MB = $186.32
Most Recent Note - 12/17/2018 5:50:58 PM G - Light volume was behind today's 5th consecutive loss while testing near its 50 DMA line ($185.52) and recent low ($183.43 on 12/06/18) noted as important near-term support. Recently reported earnings +22% on +2% sales revenues for the Sep '18 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. >>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Moving Average - 12/12/2018 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
UBNT - NASDAQ Ubiquiti Networks TELECOMMUNICATIONS - Diversified Communication Serv	$97.39	-2.21 -2.22%	$100.39	551,090 112.93% of 50 DAV 50 DAV is 488,000	$115.44 -15.64%	11/9/2018	$108.20	PP = $101.43
								MB = $106.50
Most Recent Note - 12/19/2018 6:05:29 PM G - Color code is changed to green after undercutting the prior high ($101.33 on 9/25/18) as today's 5th consecutive loss also led to a close below its 50 DMA line ($99.66). >>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Still Hovering Above "Max Buy" Level - 12/11/2018 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
PLNT - NYSE Planet Fitness Inc Cl A Leisure-Services	$52.05	-1.48 -2.76%	$53.71	1,362,438 111.49% of 50 DAV 50 DAV is 1,222,000	$58.50 -11.03%	11/7/2018	$57.10	PP = $55.45
								MB = $58.22
Most Recent Note - 12/20/2018 6:30:05 PM Y - Slumped near its 50 DMA line ($51.34) defining important near-term support to watch above the recent low ($48.02 on 11/20/18). More damaging losses would raise concerns and trigger a technical sell signal. >>> FEATURED STOCK ARTICLE : Fitness Firm Remains Near High Despite Unhealthy Environment - 12/14/2018 \| 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
INVA - NASDAQ Innoviva Inc Medical-Biomed/Biotech	$16.15	-0.33 -2.00%	$16.60	833,022 71.75% of 50 DAV 50 DAV is 1,161,000	$18.60 -13.17%	11/23/2018	$17.74	PP = $18.09
								MB = $18.99
Most Recent Note - 12/18/2018 5:25:28 PM Y - Volume totals have been cooling while consolidating above its 50 DMA line ($16.25). Subsequent gains and a strong close above the pivot point backed by at least +40% above average volume may clinch a technical buy signal. >>> FEATURED STOCK ARTICLE : Perched Near High With Volume Totals Cooling - 12/13/2018 \| 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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