Major averages finished roughly flat to slightly lower on volume that was about equivalent to Monday's trade. A number of leading stocks continue to struggle. The ones moving higher do so in unconvincing fashion as volume levels remain low. The baby-stepping market continues to grind higher.
Focus List Notes:
ANET held support at its 20-dema but closed just below is 10-dma as volume dried up to -49% below-average yesterday. This is a lower-risk entry position, using the 20-dema as a tight selling guide.
BABA broke below its 20-dema on volume that was 7% above-average. A test of the 50-dma looks likely.
FEYE dipped below its 20-dema yesterday on volume that was -45% below-average. This constitutes a violation of the 20-dema, with a test of the 50-dma looking likely.
NFLX closed down yesterday after reporting earnings Monday after the close. Selling volume was the heaviest since its prior buyable gap-up move following earnings in July. The 20-dema serves as a maximum selling guide.
Market Lab Report - Premarket Pulse 10/18/17
| Published: | 18 Oct 2017 09:22 ET |
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