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Market Lab Report - Premarket Pulse 4/11/17

Published : April 11 2017 at 9:12 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.


This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (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. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2017 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.