Market Lab Report - Premarket Pulse 9/23/15
Currently the indexes remain in a choppy, rising range following the selling climax that occurred in late August. Many leading stocks remain mired in weak positions within their chart patterns, while some have attempted to recover and were able to hold key moving averages despite yesterday's selling, such as PANW, FB, TSLA, SKX, UA, AMZN, etc. Thus the market may move into a bifurcated phase where some stocks are playable on the long side while others continue to languish and, in some cases, present short-sale targets. If the market is setting up for another leg to the downside, it may take several weeks to develop, and therefore it is difficult for investors to make any firm conclusions aoutside of dealing with the market on a stock-by-stock basis.
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