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Market Lab Report - At the Open 3/14/17

Major averages finished roughly flat to up on lower volume near the top of their respective trading ranges.

The Federal Reserve's FOMC two-day meeting concludes Wednesday afternoon. It is assumed they will increase the Fed funds target range by a quarter point. The FOMC's remarks will be closely watched for indications on the number of additional hikes this year as well as projections on the economic health of the country.

Over in China, the country's National Bureau of Statistics noted that fundamentals of the Chinese economy are improving and that the business environment is in better shape than one year ago.

Focus List Notes

AMZN tight along the top of its base.

BABA had a pocket pivot but stalled near the highs of its current range.

MOMO holding tight above the 30 price level and the 29 intraday low of last week's buyable gap-up price range.

NTES showed some support along the 20-dema yesterday after a voodoo pullback to the line over the prior several trading days.

SQ is holding tight along its 10-dma with volume continuing to dry up. It has also held above the 16.32 intraday low of its late February buyable gap-up move that came after earnings.

VEEV moved back up towards its prior highs. The stock has shown strong volume over the past three days after holding tight along its 10-dma and 20-dema over the prior week.

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