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AFTER MARKET UPDATE - TUESDAY, DECEMBER 3RD, 2019
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Indices NYSE Nasdaq
DOW  -280.23 27,502.81 -1.01% Volume 859,431,990 +10% Volume 2,300,383,300 +5%
NASDAQ -47.35 8,520.64 -0.55% Advancers 1,108 39% Advancers 1,174 38%
S&P 500 -20.67 3,093.20 -0.66% Decliners 1,732 61% Decliners 1,948 62%
Russell 2000 -4.95 1,602.63 -0.31% 52 Wk Highs 29   52 Wk Highs 44  
S&P 600 -4.06 977.51 -0.41% 52 Wk Lows 68   52 Wk Lows 68  

Leadership Thinned as Major Indices Sank With Higher Volume Totals

The Dow slumped more than 450 points during the session, before paring some of the losses to close down 280 points. The S&P 500 retreated 0.7%, while the Nasdaq Composite shed 0.6%. Breadth was negative as decliners led advancers by a 3-2 margin on the NYSE and 5-3 on the Nasdaq exchange. The volume totals were higher than the prior session on both major exchanges, indicative of distributional pressure. Leadership thinned as there were only 8 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 24 on the prior session, down abruptly from last Tuesday's total of 77 stocks. New 52-week highs totals contracted and were outnumbered by new 52-week lows 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 Nasdaq Composite Index pulled back from its record high with a 3rd consecutive loss. 

Stocks extended their declines on Tuesday as investors digested downbeat trade headlines. President Trump indicated that he sees no reason to rush a deal with China, noting that it may even be better to wait until after the 2020 U.S. presidential election. Separately, the EU and France said they are prepared to retaliate if Washington moves forward with implementing levies on $2.4 billion of French imports. 

Amid the trade uncertainty, perceived safe haven assets strengthened. Treasuries rallied, sending the yield on the 10-year note down 11 basis points to 1.71%, touching the lowest level since early November. In commodities, COMEX gold climbed 1.0% to $1,477.00/ounce, while WTI crude reversed an earlier decline, to finish 0.6 % higher at $56.31/barrel.

Eight of 11 S&P 500 sectors ended in negative territory, with the more defensive Real Estate and Utilities groups the only advancers. Energy and Financials led laggards, retreating 1.5% and 1.3%, respectively. The Industrials group, which is widely viewed as a proxy of the ongoing trade dispute, also underperformed, losing 1.1%.

This follows Monday’s session in which the major averages posted their worst day in more than a month amid trade news and a disappointing reading on U.S. manufacturing. President Trump announced the resumption of steel and aluminum tariffs on imports from Brazil and Argentina, while the ISM reported U.S. factory activity contracted for the fourth-straight month in November.

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.


Gold & Silver and Biotech Indexes Bucked Broad Group Weakness

The Retail Index ($RLX -0.98%), Broker/Dealer Index ($XBD -1.05%), and Bank Index ($BKX -1.60%) posted unanimous losses on Tuesday. The tech sector had a negative bias as the Semiconductor Index ($SOX -1.54%) and Networking Index ($NWX -0.54%) both fell while the Biotech Index ($BTK +0.52%) eked out a small gain. The Gold & Silver Index ($XAU +2.03%) was a standout gainer while the Oil Services Index ($OSX -2.51%) and the Integrated Oil Index ($XOI -1.49%) both fell
Charts courtesy of www.stockcharts.com

PICTURED: The Semiconductor Index ($SOX -1.54%) pulled back testing its 50-day moving average (DMA) line.

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  66.22 -1.71 -2.52% -17.84%
Integrated Oil $XOI  1,182.50 -17.94 -1.49% +2.02%
Semiconductor $SOX  1,665.71 -26.04 -1.54% +44.20%
Networking $NWX  565.56 -3.07 -0.54% +15.73%
Broker/Dealer $XBD  283.76 -3.01 -1.05% +19.56%
Retail $RLX  2,355.07 -23.34 -0.98% +20.69%
Gold & Silver $XAU  97.97 +1.94 +2.02% +38.65%
Bank $BKX  107.48 -1.74 -1.59% +25.28%
Biotech $BTK  5,002.44 +25.61 +0.51% +18.52%


Consolidating After Getting Extended From Any Sound Base

Topbuild Corp (BLD +$1.89 or +1.75% to $109.59) is extended from any sound base. Its 50-day moving average (DMA) line ($102.71) acted as support during its ongoing ascent. 

Recently it 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). It still has a 98 Earnings Per Share Rating, as its annual earnings (A criteria) history has also been strong and steady since turning profitable in FY '14.

BLD was last shown in this FSU section on 11/12/19 with an annotated graph under the headline, "Perched Near High Following Recent Volume-Driven Gains". It was highlighted in yellow with new pivot point cited based on its 8/12/18 high plus 10 cents in the 5/17/19 mid-day report (read here). 

The number of top-rated funds owning its shares rose from 380 in Dec '18 to 454 in Sep '19.   Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A and a Sponsorship Rating of D.


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
StockCharts.com Latest Chart for MLR MLR - NYSE
Miller Industries Inc
AUTOMOTIVE - Auto Parts  
$36.03 -0.09
-0.25%

$36.14

33,464
74.36% of 50 DAV
50 DAV is 45,000
$37.70
-4.43%
9/24/2019 $34.00 PP = $35.36
MB = $37.13
Most Recent Note - 12/3/2019 5:09:50 PM
Y - Pulled back today for a 3rd 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 ($34.35). Showed resilience after recently reporting earnings which were below the fundamental guidelines of the fact-based investment system.
>>> FEATURED STOCK ARTICLE : Showing Resilience After Latest Quarter Missed Minimum Guidelines - 11/15/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for CCBG CCBG - NASDAQ
Capital City Bk Gp
BANKING - Regional - Mid-Atlantic Banks  
$28.30 -0.55
-1.91%

$28.66

30,440
74.24% of 50 DAV
50 DAV is 41,000
$30.85
-8.27%
9/13/2019 $27.03 PP = $27.05
MB = $28.40
Most Recent Note - 12/3/2019 5:14:23 PM
G - Pulled back near its "max buy" level with today's 3rd consecutive loss on lighter than average volume. Testing its 50 DMA line ($28.28) and prior highs which define important support to watch.
>>> 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 
StockCharts.com Latest Chart for FTNT FTNT - NASDAQ
Fortinet Inc
Computer Sftwr-Security  
$103.80 -0.12
-0.12%

$104.06

1,799,633
132.23% of 50 DAV
50 DAV is 1,361,000
$106.00
-2.08%
11/11/2019 $97.14 PP = $97.06
MB = $101.91
Most Recent Note - 12/2/2019 12:33:21 PM
G - Stubbornly holding its ground after getting extended from the prior base. 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 
StockCharts.com Latest Chart for SPSC SPSC - NASDAQ
S P S Commerce Inc
COMPUTER SOFTWARE and SERVICES - Application Software  
$55.86 -0.01
-0.02%

$56.23

712,279
378.87% of 50 DAV
50 DAV is 188,000
$59.14
-5.55%
11/29/2019 $56.59 PP = $59.24
MB = $62.20
Most Recent Note - 11/29/2019 2:25:43 PM
Y - Finished lower with today's 2nd consecutive session marked by below average volume. Highlighted in yellow with new pivot point cited based on its 7/26/19 high plus 10 cents. Consolidating 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. Went through a choppy consolidation and rebounded impressively since a 2:1 split impacted share price on 8/23/19 when it was dropped from the Featured Stocks list. Reported earnings +27% on +13% sales revenues for the Sep '19 quarter, and 3 of the past 4 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). See the latest FSU analysis for more details and a new annotated graph.
>>> 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 
StockCharts.com Latest Chart for AUDC AUDC - NASDAQ
Audiocodes Ltd
ELECTRONICS - Scientific and Technical Instrum  
$24.38 +0.34
1.41%

$24.47

290,857
104.25% of 50 DAV
50 DAV is 279,000
$24.49
-0.45%
9/13/2019 $19.68 PP = $19.84
MB = $20.83
Most Recent Note - 12/3/2019 5:11:35 PM
G - Posted a gain with average volume today for its best ever close. Prior highs in the $22 area define initial support above its 50 DMA line ($20.58). 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
StockCharts.com Latest Chart for CHDN CHDN - NASDAQ
Churchill Downs Inc
LEISURE - Gaming Activities  
$129.40 -0.27
-0.21%

$129.70

174,335
58.50% of 50 DAV
50 DAV is 298,000
$135.32
-4.37%
10/8/2019 $129.77 PP = $132.83
MB = $139.47
Most Recent Note - 12/2/2019 12:31:23 PM
G - Perched within close striking distance of its 52-week high, but extended from any sound base. Its 50 DMA line ($128) 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.
>>> FEATURED STOCK ARTICLE : Resilience Shown Despite Another Sub Par Earnings Report - 11/18/2019
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
StockCharts.com Latest Chart for LULU LULU - NASDAQ
Lululemon Athletica
MANUFACTURING - Textile Manufacturing  
$223.19 -2.34
-1.04%

$223.99

1,462,674
92.46% of 50 DAV
50 DAV is 1,582,000
$229.65
-2.81%
9/6/2019 $201.25 PP = $194.35
MB = $204.07
Most Recent Note - 11/27/2019 5:25:48 PM
G - Extended from any sound base and it hit another new all-time high with today's 4th consecutive gain. Its 50 DMA line ($203.40) defines important near-term support. See the latest FSU analysis for more details and an annotated graph.
>>> 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 
StockCharts.com Latest Chart for CPRT CPRT - NASDAQ
Copart Inc
SPECIALTY RETAIL - Auto Dealerships  
$87.28 -0.68
-0.77%

$87.89

1,390,725
84.44% of 50 DAV
50 DAV is 1,647,000
$92.41
-5.55%
9/5/2019 $79.13 PP = $79.84
MB = $83.83
Most Recent Note - 12/2/2019 12:32:26 PM
G - Consolidating after getting extended from any sound base. The 50 DMA line ($83.22) 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 
StockCharts.com Latest Chart for NMIH NMIH - NASDAQ
N M I Holdings Inc Cl A
Finance-MrtgandRel Svc  
$32.27 -0.38
-1.16%

$32.38

513,915
120.92% of 50 DAV
50 DAV is 425,000
$34.50
-6.46%
11/8/2019 $32.89 PP = $31.44
MB = $33.01
Most Recent Note - 11/27/2019 5:16:28 PM
G - Posted a 5th consecutive small gain with below average volume. Volume totals have been cooling while holding its ground stubbornly after rising above its "max buy" level with gains backed by above average volume. See the latest FSU analysis for more details and a new annotated graph.
>>> 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 
StockCharts.com Latest Chart for SPLK SPLK - NASDAQ
Splunk Inc
Computer Sftwr-Database  
$148.09 +0.05
0.03%

$148.64

1,820,487
97.46% of 50 DAV
50 DAV is 1,868,000
$152.68
-3.01%
11/25/2019 $147.79 PP = $142.16
MB = $149.27
Most Recent Note - 11/27/2019 5:21:44 PM
G - Color code is changed to green after rallying above 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
StockCharts.com Latest Chart for PAYC PAYC - NYSE
Paycom Software Inc
COMPUTER SOFTWARE and SERVICES - Application Software  
$270.43 +1.39
0.52%

$272.98

827,644
143.19% of 50 DAV
50 DAV is 578,000
$279.95
-3.40%
11/20/2019 $252.97 PP = $259.81
MB = $272.80
Most Recent Note - 12/2/2019 12:12:49 PM
G - Pulling back after an impressive streak of 14 consecutive gains left it extended from the prior base. 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 
StockCharts.com Latest Chart for BLD BLD - NYSE
Topbuild Corp
Bldg-Constr Prds/Misc  
$109.59 +1.89
1.75%

$109.82

154,618
57.05% of 50 DAV
50 DAV is 271,000
$113.74
-3.65%
5/17/2019 $82.19 PP = $87.31
MB = $91.68
Most Recent Note - 12/3/2019 5:08:14 PM
G - Consolidating after getting extended from any sound base. Bullish action has continued after it 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 ($102.71) acted as support during its ongoing ascent. See the latest FSU analysis for more details and a new annotated graph.
>>> 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 
StockCharts.com Latest Chart for GLOB GLOB - NYSE
Globant SA
Computer-Tech Services  
$98.76 -4.99
-4.81%

$102.56

521,307
199.73% of 50 DAV
50 DAV is 261,000
$112.33
-12.08%
11/14/2019 $106.87 PP = $112.43
MB = $118.05
Most Recent Note - 12/3/2019 12:30:25 PM
G - Color code is changed to green while slumping near its 50 DMA line ($97) with higher volume behind today's big 4th consecutive loss. Prior lows and its 200 DMA line define the next important support to watch. Reported earnings +35% on +27% sales revenues for the Sep '19 quarter.
>>> FEATURED STOCK ARTICLE : Rallying Near High With 12th Consecutive Gain - 11/14/2019
 |  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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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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