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Market Lab Report - Pre-Market Pulse for Tuesday, March 20, 2018

Major indexes sold off on lighter volume compared to Friday's bloated triple-witching options expiration volume levels, with the NASDAQ Composite Index failing on its recent breakout to new highs, while the S&P 500 Index broke below its 50-dma. We discussed these possibilities over the weekend in our Focus List Review, and they have now come to pass, hence caution is advised.

Focus List Notes:
Focus List names sold down to near-term support levels, in most cases down to their 20-demas, which is something we discussed watching for per our weekend Focus List Review notes.
AMAT, AMZN, BB, FTNT, NFLX, and TEAM all sold down to or near their 20-demas, while BZUN, LITE, and SQ were able to hold support along their 10-dmas. NVDA was the weakest performer as it broke down to its 50-dma, but found intraday support at the line. Some of these pullbacks may offer lower-risk entry opportunities, but it is important to keep your selling guides as tight as possible in the event the market continues to sell of further given the bearish developments in the major market indexes.
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