Major averages rose on higher volume. Dow components have so far reported strong earnings which has further propelled the Dow Industrials index into a parabolic rise. Expect the index to either digest gains by allowing its moving averages to catch up or expect a correction of some magnitude. The index has corrected only -2.6% at its worst so far in 2017 making it one of its least volatile years on record.
Focus List Notes:
ANET is expected to report earnings next week on November 2.
BABA is testing its 50-dma, the maximum selling guide for the stock. Earnings are expected on November 2.
NFLX found support at its 20-dema yesterday, but volume was lighter than the previous day. It now sits just below its 10-dma.
VRTX nearly violated its 50-dma yesterday, but there is nothing to do with the stock until earnings are reported tomorrow.
WTW again found support at its 50-dma, which remains its selling guide. Earnings are expected on November 6.
Market Lab Report - Premarket Pulse 10/25/17
|Published:||25 Oct 2017 09:27 ET|
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
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. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.