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Market Lab Report - Premarket Pulse 10/31/17

Major averages took a breather after Friday's surge as they finished lower on lower volume. The Dow Industrials has had 51 consecutive trading sessions without a 1% move. This is the longest period without at least a 1% move since 1930. In step with this action, the VIX continues to hover near all-time lows. QE has brought about this situation as QE-based capital finds its way into the tallest standing midget which is the US stock market. The burning question will be how markets respond to The Great Unwind. The US Federal Reserve has begun its unwinding process and other central banks claim they are soon to follow.

Focus List Notes:

ANET is expected to report earnings on Thursday after the close.

BABA posted a pocket pivot yesterday ahead of Thursday's expected earnings report.

FEYE is expected to report earnings tomorrow after the close.

NFLX pulled back down towards its 10-dma yesterday on volume that was -25% below-average. The low-volume pullback on news that the company was cancelling one of its best shows puts the stock in a lower-risk entry position along the 10-dma.

WTW violated its 50-dma yesterday on volume that was -30% below-average. Volume has been light for the past seven trading days as the stock has slowly moved lower after reaching a higher-high eight trading days ago.

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