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Market Lab Report - Pre-market Pulse for Friday, December 29, 2017

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.
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This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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