Major averages finished roughly flat yesterday, closing near the top end of their trading ranges. The Dow posted its ninth straight up day.
Focus List Notes
BABA broke out of its sideways consolidation on a pocket pivot after trading quietly near its 20-day moving average where shares could have been bought. Yesterday's move also have the look of a trendline breakout from a cup-with-handle base.
NTES managed to cleaer the $300 Century Mark, triggering Jesse Livermore's Century Mark Rule on the long side. This is a Livermorian sign of strength as a stock that makes it through a century mark on good volume is likely to continue higher.
SQ reported earnings last night as is gapping up this morning through its prior 15.99 all-time high. This sets up a possible buyable gap-up (BGU) this morning once the stock is able to set a firm intradeay low for the day.
FB broke out of its tight sideways consolidation on a pocket pivot move that also qualifies as a cup-with-handle breakout. The "voodoo" (volume dry up) action over the last few days made the stock buyable along the 10-day line before the break out.
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