Major averages finished mixed on lower volume. While the number of distribution days has clustered on the NASDAQ Composite, NASDAQ futures are higher by nearly 1% on strong earnings reports from GOOGL, AMZN, MSFT, and INTC, all which are trading higher at the time of this writing. Meanwhile, advance third quarter GDP expanded 3.0% vs. est 2.4%.
Focus List Notes:
Three of the current six Focus List names will report earnings next week: ANET, BABA, and FEYE, with two others, TTWO and WTW expected to reported the week after.
NFLX continues to hold above its 20-dema and the prior base breakout point. So far, low-volume pullbacks to the 20-dema has served as lower-risk entry opportunities, although the stock has shown no upside thrust since its early October breakout and its mid-October earnings report.
VRTX has been removed from the list after violating its 50-dma earlier in the week, triggering a sell signal at that point.
Market Lab Report - Premarket Pulse 10/27/17
|Published:||27 Oct 2017 09:13 ET|
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. ©2022 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.