Market Lab Report - Premarket Pulse 5/4/15
Investors should maintain awareness of leading stocks that may be pulling into logical areas of support while keeping an eye out for areas that may benefit from any rotational type of correction in the general market. We have seen a number of standard-issue base breakouts fail, particularly in headline names like Apple (AAPL), Twitter (TWTR), and Facebook (FB), and this speaks to the value of utilizing alternative buy points as stocks come up the right sides of potential new bases. This is the primary long set-up that appears to work in this market, while orthodox buying of obvious base breakouts is far less effective. Thus as the market pulls back investors should be on the lookout for potential emerging leaders showing these types of unorthodox buy points such as roundabout pocket pivots.
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