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Market Lab Report - Premarket Pulse 10/25/16

Major averages rose yesterday on lower volume with the NASDAQ-100 closing at all-time highs helped by super cap names including the "FANG" stocks and others like MSFT and NVDA, all which have been on our Focus List except for the slower moving AAPL, MSFT, and GOOGL. After a weak, directionless period where major averages and leading stocks seemed ready to offer a somewhat meaningful crrection, capital has instead rotated into the bigger cap tech names.

Meanwhile, the S&P 500, Dow Industrials, and small-cap Russell 2000 continue to lag under their respective 50-day moving averages. The narrowness of the rally was supported by the fact that the number of actionable new names running our screens yesterday stood at zero. That said, we have advised using existing stocks on our Focus List to guide your entries since such stocks often outperform as some of them did in yesterday's trade.

EDU which is on our list had a pocket pivot but the time to buy was late last week when it pulled back to its 10- and 20-day moving average lines on lower volume. Same for PAYC which we mentioned over the weekend in the Weekend Review.

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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