X
X
Tired?
Unfocused?
Off your game?

Read our free Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
YES, SEND ME THE REPORT !
NO, I'M NOT INTERESTED
Your email will always remain private.

Market Lab Report - Premarket Pulse 10/6/17

Major averages rose on mixed volume. Markets are getting a bit extended as the VIX continues to trade near all-time lows.

Analysts say today's September Employment Situation Report was affected by Hurricane Harvey and Hurricane Irma. Even so, the reading was appreciably weak as it showed that nonfarm payrolls decreased by -33,000 vs. est +75,000. Average hourly earnings increased by 0.5% vs. est +0.2%.

This has not deterred the possibility of a rate hike. The CME FedWatch Tool puts odds of a rate hike in December at a virtual certainty of 98.2%, up from yesterday's 77.5%.

Focus List Notes:

ANET continues to hold tightaloing its 10-dma as volume declined to -58% below-average yesterday.

NFLX broke out of a cup-with-handle base on very heavy volume after the company announced a price increase for its online streaming media service.

TTWO broke out to an all-time high yesterday but volume was -20% below-average. This is not unusual, however, in this market where many stocks are able to move higher even on light volume.

VRTX continues to hold tight along is 10-dma after Monday's pocket pivot, although it has so far not followed-through to the upside following the Monday pocket pivot.

WTW again attempted to launch higher off its 50-dma but reversed off its intraday highs to close near its intraday lows on higher volume. The stock appears to be continuing to run into resistance from the left side of the pattern and the 49.32 August peak.

Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
FOR OUR FREE MARKET LAB REPORT :
Copyright ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy