Major averages finished higher though in the mid- to lower half of their trading ranges on mixed volume. The major averages seem tentative over the last couple of weeks as they push on a string with leading stocks in particular losing some momentum.
Focus List Notes:
With futures down this morning, stocks across the board are pulling back, and this includes Focus List names. We would exercise vigilance in sticking to stops and trailing stops.
BABA posted a pocket pivot at its 20-dema but closed just below the 10-dma on above-average volume. Nevertheless, the stock is set to gap down nearly three points as of the time of this writing.
NFLX, which has the one advantage of having already reported earnings, continues to come in after clearing the $200 price level before Monday's earnings report. Volume declined yesterday but still came on 51% above-average. Watch for volume to decline as the stock approaches the 20-dema and the prior 189.95 breakout point.
Market Lab Report - Premarket Pulse 10/19/17
| Published: | 19 Oct 2017 08:47 ET |
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