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Market Lab Report - Premarket Pulse 2/6/17

Major averages rose Friday on lower volume. The NASDAQ Composite posted a new all-time high, while the Dow ended the week where it began, above the 20,000 level. Bank stocks rallied on Trump's plan to scale back the regulations that were passed after the financial meltdown in 2008.

As we wrote in our Focus List Review to members over the weekend:

"The market spent the week sloshing around on various news including the reaction to the Trump Administrations's recent immigration order, Wednesday's Fed policy announcement, rumors of delayed tax cut legislation, oil prices, and the monthly Bureau of Labor Statistics jobs report on Friday. By the end of the week the Dow regained the 20,000 price level, more or less in line with where it started the week. The same held true for the NASDAQ Composite and S&P 500 indexes. As the news flow stabilizes we may begin to see the market develop a more pronounced trend, and we would therefore focus on the best-acting stocks. Temporary bouts of market weakness help differentiate the stronger stocks from the weaker ones as they shake out the weakest hands."

This has been a key reason to keep stops tight and buy on constructive weakness such that your stops are close by. This keeps losses from any trades that don't work to a minimum.

In keeping with the above observations, futures are currently lower on mild weakness over in Europe.

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