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Market Lab Report - Premarket Pulse 10/3/17

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.

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