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Market Lab Report - Premarket Pulse 10/25/16

Published : October 25 2016 at 9:30 ET

Major averages rose yesterday on lower volume with the NASDAQ-100 closing at all-time highs helped by super cap names including the "FANG" stocks and others like MSFT and NVDA, all which have been on our Focus List except for the slower moving AAPL, MSFT, and GOOGL. After a weak, directionless period where major averages and leading stocks seemed ready to offer a somewhat meaningful crrection, capital has instead rotated into the bigger cap tech names.

Meanwhile, the S&P 500, Dow Industrials, and small-cap Russell 2000 continue to lag under their respective 50-day moving averages. The narrowness of the rally was supported by the fact that the number of actionable new names running our screens yesterday stood at zero. That said, we have advised using existing stocks on our Focus List to guide your entries since such stocks often outperform as some of them did in yesterday's trade.

EDU which is on our list had a pocket pivot but the time to buy was late last week when it pulled back to its 10- and 20-day moving average lines on lower volume. Same for PAYC which we mentioned over the weekend in the Weekend Review.


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