Major averages rose on higher volume. The ADP National Employment Report showed an increase of 235,000 in October vs est 215,000. The September reading was left unrevised at 135,000. Interestingly, AAPL is less than 15% away from a market cap of $1 trillion while embattled GE continues its struggle as it trades nearly -40% from its highs.
Focus List Notes:
ANET moved to all-time highs yesterday as it tests the $200 Century Mark level on above-average volume.
BABA broke out to new all-time highs yesterday on strong volume as it rallies straight off its recent lows after violating its 50-dma last week. This is typical "Ugly Duckling" action in a leading stock that finds its feet just when it is looking its ugliest and then turns right back to the upside.
NFLX is sitting right at its 10-dma as volume declined to -24% below-average yesterday. Technically, this is in a lower-risk entry position using the 10-dma or 20-dema as selling guides.
WTW regained its 50-dma yesterday on weak volume. This remains in limbo along the 50-dma ahead of earnings which are expected next week.
Market Lab Report - Premarket Pulse 11/1/17
|Published:||1 Nov 2017 09:09 ET|
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.