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Market Lab Report - Premarket Pulse 5/3/17

Published : May 3 2017 at 9:12 ET

Major averages rose slightly on higher volume in a fairly quiet trading day. The constructive action over the last few days gives the major indices a chance to digest sharp gains made last week. The Federal Reserve makes their announcement on interest rates at 2 pm ET.

Focus List Review

Most names on the list are currently not in lower-risk entry positions. In addition, FB, TSLA, and SQ are expected to report earnings today after the close.

NOW has been holding tight sideways with volume drying up over the past three trading days following last Thursday's buyable gap-up move. The stock remains within buying range of Thursday's BGU, using the 93.30 intraday low of that day as a tight selling guide.

SNAP pulled down towards its 10-dma with volume drying up to -72.8% below average. The stock came within a little over 1% of the line before finding intraday support and turning back to the upside. Earnings are expected next Wednesday.


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