Market Lab Report - Premarket Pulse 9/23/16
Major averages rose yesterday on lower volume. The NASDAQ Composite logged another all-time high, and this was bolstered by strong performance from the small-cap Russell 2000 Index, which led all other major market averages with a 1.48% gain on the day.
Top price performers that we have mentioned in prior reports and webinars as ones to watch for constructive pullbacks as potential buy points such as TWLO, BABA, NTES, NVDA, and GIMO continue to move higher.
Others such as MOMO, LN, and WB are still near support. Stocks such as PI may need more time to digest prior gains but should nevertheless be monitored for constructive pullbacks to prior areas of support. In general, investors should avoid buying into strength and instead seek to pick up shares of leading stocks on constructive pullbacks.
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