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Market Lab Report - Pre-Market Pulse for Wednesday, April 10, 2018

All of the major market indexes posted follow-through days yesterday, with the NASDAQ Composite and S&P 500 Indexes doing so on the sixth day of a rally attempt. As we wrote yesterday morning, the indexes were still in position for follow-through days given that they had held above their recent lows, and that came to fruition yesterday. The issue is now whether the follow-through holds up and where we can find individual stocks in lower-risk buyable positions.

Futures are currently lower on the possibility of a U.S. strike against Syrian President Bashar al-Assad. Talk of such a strike was spurred on by a suspected chemical-weapons attack which killed civilians in Damascus over the weekend.

Focus List Notes:
Note that stocks in lower-risk pullback positions can be bought within the context of the market averages following through on yesterday's follow-through day.
AMZN closed just above its 10-dma on very light volume as it holds in a tight range. If the market continues higher, this could be bought here with the idea of it holding relatively close to the 10-dma while looking for a move back above the 50-dma as confirmation.
FTNT broke out of a four-week base on a five-day pocket pivot move, but volume was below-average.
LITE closed four cents above its 50-dma, which puts it in a lower-risk entry position using the 50-dma as a selling guide, or the 200-dma further down in the pattern.
NFLX is sitting on its 50-dma, which can be considered a lower-risk entry position using the 50-dma as a tight selling guide.

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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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