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Market Lab Report - Premarket Pulse 4/13/17

Published : April 13 2017 at 9:11 ET

Major averages fell on lower volume, closing near the low end of their trading ranges, and marking the first time the S&P 500 has closed below its 50-day moving average in 5 months. The NASDAQ Composite retested its 50-day moving average for the second day in a row while the Dow Industrials, semiconductors, financials, and the Russell 2000 are all under their 50-day lines. Even though today's trading day is liable to be on light volume ahead of the 3-day weekend, technical action of the majors is weak so assume nothing.

Focus List Review

We are seeing some names start to move below near-term support. In some cases this can trigger sell signals depending on what moving average holders of these stocks are using as selling guides.

AMZN dipped below its 10-dma and the $900 Century Mark yesterday on light volume. The 20-dema should serve as near-term support.

BZUN had a sharp pullback after breaking out, though after its 17% gain in 3 days from 4-7 to 4-11, taking partial or full profits is illustrative of taking profits when a stock's price gets ahead of itself. Alternatively, one could try to use the 7-week rule to stay in position though such stocks have been unusual in this environment.

CC dropped below its 20-dema on increased but below-average selling volume.

COHR dropped below its 20-dema on increased but below-average volume.

FB has now closed two days in a row below its 20-dema, the first time it has done so since the first week of January.

MKSI has violated its 50-dma.

SQ posted a pocket pivot coming up through the 10-dma and 20-dema.

TSLA closed below the $300 Century Mark and its 10-dma on slightly above-average volume.


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.