Market Lab Report - Premarket Pulse 11/25/15
Major averages made a nice comeback on higher volume after earlier weakness due to Turkey shooting down a Russian military jet. Both the NASDAQ Composite and the S&P 500 Indexes found support at their 10-day moving averages. The Russell 2000 small-cap index surprisingly led on the upside with a 0.72% gain on the day vs. the NASDAQ's 0.01% and the S&P's 0.12%. Market weakness on such news events is usually short-lived, but the market's reaction is probably from spillover effects from the Paris attacks. Barring any unexpected news events, odds favor the markets trading quietly higher on the day before and after Thanksgiving.
Network security infrastructure provider Palo Alto Networks (PANW) had a buyable gap up on a strong earnings report. Earnings and sales are soaring, group rank 92.
Telecom infrastructure firm Maxlinear (MXL) had a pocket pivot. It gapped higher on its prior earnings report. Earnings and sales are soaring, group rank 51. It closed in the lower half of its trading range, a weak close given yesterday's comeback.
Telecom infrastructure firm Dycom (DY) had a pocket pivot. After reporting earnings, it was weak but has since made a high volume reversal to the upside. Earnings are soaring, sales are strongly accelerating, group rank 51. We reported on DY on Nov 2 when it had a pocket pivot.
This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.