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Market Lab Report - Premarket Pulse 10/11/17

Major averages rose on higher volume. The September FOMC minutes will be released this afternoon at 2 pm ET. Investors will analyze the wording carefully, looking for anything that might adjust their rate-hike expectations. The CME FedWatch Tool currently places the chances of a December rate hike at 93.1%.

Earnings season will unofficially kick off tomorrow morning with earnings from financial heavyweights JPMorgan (JPM) and Chase (C). S&P 500 earnings are expected to increase just 2.8%, down from an estimated growth rate of 7.5% primarily due to hurricane-related insurance claims.

Focus List Notes:

NFLX is within buying range of last Thursday's cup-with-handle breakout. We would suggest using the 20-dema as a tigher selling guide vs. the standard O'Neil style stop-loss of 7-8%.

WTW finally held a closing higher high yesterday as it again rallied off the 50-dma, the fourth time it has done so over the past seven trading days.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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