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Market Lab Report - Premarket Pulse 5/9/17

Published : May 9 2017 at 9:16 ET

Major averages finished close to breakeven on mixed volume. The VIX closed at levels not seen since 1993. Today's market is artificially supported by QE from global central banks as well as optimistic expectations of Trump's economically favorable policies. Nevertheless, headwinds from slowing economies at home and abroad remain an issue.

Focus List Review

JD gapped higher on strong earnings to close at all time-highs. It could be considered a buyable gap up though has had a good run so far. That said, Chinese names continue higher so the low of yesterday's gap up allowing for a small undercut could be a selling guide.

CC is holding at its 10-dma with volume declining to -13% below average.

FB is holding at its 10-dma wit volume declining. This puts it in a lower-risk entry position using the 10-dma as a tight selling guide.

LITE continues to hold above its 50-dma. Look for any pullbacks towards the 50-dma as potential, lower-risk entry opportunities.

NFLX has been holding tight as its 10-dma catches up to the stock pricie. As the 10-dma meets up with the stock price this sets up the possibility of a voodoo buy point or a continuation pocket pivot, which should be watched for.

SQ is holding tight following last week's BGU as volume now dries up to below average. Volume may continue to dry up, but the stock remains in a lower-risk entry position using the 19.18 BGU low as a selling guide.


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.