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Market Lab Report - Premarket Pulse 10/10/16

Major averages fell Friday on mixed, below average volume to finish roughly midbar. The S&P 500 has been unable to break above its 50-day moving average while the NASDAQ Composite struggles to make new highs, a situation all too common for the major indices since 2015.

The market is gapping higher by more than half a percent after the second debate, though the market has been unable to make any meaningful moves in either direction as it walks a tightrope regarding whether central banks such as the Federal Reserve and European Central Bank are moving toward tighter money policies, ie, less QE.

Friday's jobs report suggested some weakness which reduced the 64% odds of a rate hike this December to 60% though these odds fluctuated somewhat after the report. There remains much uncertainty which markets dislike. The falling price of precious metals while bond yields rise suggests the market believes interest rate tightening will come sooner than later, though any rate hikes will probably be done after the election.

ACIA and TWLO have been two of the top leaders on a technical and fundamental basis in recent months. Both are near supportive moving averages, the 50-day and 20-day, respectively. While both are fairly obvious to market participants at this point, both should be monitored closely. 

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