Major averages were up three days in a row yesterday but this morning futures are down after the President's Chief Economic Adviser Gary Cohn resigned, allegedly in protest over steel and aluminum tariffs. Watch leading stocks closely as pullbacks to areas of support could provide buying opportunities if the selling does not get out of hand. Ultimately, it is not clear that Mr. Cohn's resignation is a death knell for the market, although the market could also view it as one of many staffing snafus that have plagued this administration.
Focus List Notes:
AMZN and NFLX have become extended, and will pull back with the market this morning. NVDA regained its 20-dema yesterday, but is set to test the line again today, which could present a lower-risk entry point, assuming the general market does not sell off further from current pre-open levels.
Market Lab Report - Pre-Market Pulse for Wednesday, March 7 , 2018
|Published:||7 Mar 2018 09:25 ET|
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