Major averages rose on mixed volume. Big cap techs once again showed weakness as the NASDAQ-100 was up the least at only 0.04% while the small cap Russell 2000 showed the most strength, up 1.25%. Financials also put in another strong showing with the financials ETF XLF up 0.85%.
Focus List Notes:
BABA is wedging up into its 10-dma, where it encountered resistance yesterday. A retest of the 50-dma is always a possibility.
NFLX closed below its 50-dma on above-average volume. The stock has been coming under pressure lately after coming within 1% of an all-time high eight trading days ago.
WTW pocket pivot off the confluence of its 10-dma, 20-dema, and 50-dma yesterday on above-average volume. The stock had been holding tight along the moving averages in constructive fashion, and was buyable along the line per our weekend Focus List Review comments.
Market Lab Report - Premarket Pulse 10/3/17
|3 Oct 2017 09:19 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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.