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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.

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.
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