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 |
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