Market Lab Report - Premarket Pulse 9/21/15
The market may be working on a longer-term top, but the reaction rally that has occurred since the "Capitulation Monday" lows of four weeks ago remains intact. While the indexes sold off hard on Friday, many recovering leaders continued to act normally or constructively, such as Facebook (FB), which was up on Friday and has held above its 50-day moving average over the past few days. Even in a choppy, go-nowhere environment, reasonable short-term profit opportunities have shown up a number of times this year in key stocks on both the long and short side as shown in our Reports section. Thus it is key not to take one's eye off the ball even in a challenging sideways market environment.
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