Market Lab Report - Premarket Pulse 8/11/16

Published : August 11 2016 at 8:37 ET

Major averages fell yesterday on mixed volume. The NASDAQ Composite Index reached an all-time high on an intraday basis before backing down to close negative on roughly even volume. The S&P 500 pulled back to its 10-day moving average then bounced, closing roughly mid-bar.

Leading names such as FB, GOOG, and AMZN have been trading constructively tight near new highs over the last few days. Priceline Group (PCLN) can be added to this group of big-stock NASDAQ names that act well in this current market. FB looks to be in the most constructive buy position as it sits at its 10-day moving average with volume drying up to -51% below average yesterday.

The CBOE VIX volatility indicator hit new lows not seen since August 2015 so yesterday's index pullback was unsurprising. Nevertheless, the overall uptrend remains in force, and it is simply a matter of maintaining reasonable trailing stops on long positions.

Note that VoSI Focus List leader Nvidia (NVDA) is expected to announce earnings today after the close.

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