Buyers came in at the end of the day yesterday in a minor show of enthusiasm as the major market averages rallied and closed up on the day. Big moves in individual stocks were far and few between, although Netflix (NFLX) did post a strong pocket pivot as it cleared its 50-dma. We reported on this during the day. Going into the long New Year's holiday weekend, we aren't expecting much in the way of significant action.
Gold is trading above the $1300 level after posting a gap-up pocket pivot two days ago as it pushed up through its 50-dma. Stock futures are currently at their best morning rally levels of the week as the pundits talk about a run for "Dow 25,000" before year-end. The market has six-and-a-half hours to get it done!
Focus List Notes:
Caterpillar (CAT) made it nine straight up days and eight straight all-time highs yesterday. While we wouldn't characterize this as "rocket stock" it has steadily trended higher in a manner that is impressive for a big-cap industrial name.
Facebook (FB) stalled off its intraday highs to close near the lows of the day, but held six cents above the 50-dma by the close. The stock has acted tentatively around the 50-dma for the past three weeks or so.
Market Lab Report - Pre-market Pulse for Friday, December 29, 2017
| Published: | 29 Dec 2017 09:08 ET |
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