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Market Lab Report - Premarket Pulse 10/18/16

Major averages fell yesterday on lower volume in yesterday's trade. NFLX reported strong earnings after the close which sent NASDAQ futures higher. This could, however, be a selling opportunity.

Other companies are reporting favorable earnings including managed health names such as Dow component UnitedHealth (UNH) and FANG stock Amazon (AMZN).

A number of leading names on our Focus List may become or already became actionable such as EGRX which is bouncing off its 50-day line or BABA, NVDA, SSTK, GRUB, and GKOS which bounced off their respective 50-day lines 2 to 4 days ago. However, we would be cautious as any of these names would have to hold nearby support to remain viable. Indeed, dont be a fool where angels may fear to tread with respect to automatically buying today's gap higher. 

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