Market Lab Report - Premarket Pulse 4/11/17

Published:

11 Apr 2017 13:12 ET

Major averages finished in the lower half of their trading ranges, roughly breakeven on lower volume. Chinese names rallied on no negative surprises from the Trump-Xi meeting. Both sides remained cordial and took a step toward tackling the trade issue by increasing China's imports from the US.

Military tension between North Korea and the US are heating up but markets so far are taking it in stride. China is North Korea's most important ally, and yesterday China moved 150,000 troops to its border with North Korea. President Trump tweeted this morning "North Korea is looking for trouble. If China decides to help, that would be great. If not, we will solve the problem without them!"

Focus List Review

Chinese names did well including Focus List names BABA, JD, MOMO, and BZUN. BABA posted a strong pocket pivot. BZUN, JD, and MOMO all broke out to new highs on pocket pivot volume signatures. Note how laggards SINA and NTES, which were removed from the Focus List over the weekend, underperformed. NTES posted a lower low on increased selling volume.

CC is holding tight at its 10-dma as volume dried up to -52% below average yesterday.

MKSI is attempting to hold above its 20-dema with volume drying up to -36% yesterday. A breach of the 50-day moving average would be bearish for the stock.

NFLX posted a supporting pocket pivot at its 50-dma yesterday after dipping below the 50-dma earlier in the day.

SQ is holding tight at its 20-dema with volume drying up to -44% below average yesterday.

TTD is holding just above its 50-dma with volume drying up to -59% below average yesterday.

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