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Market Lab Report - Premarket Pulse 3/10/17

Major averages finished roughly flat yesterday on mixed volume after spending much of the day in the red. Both the NASDAQ Composite and S&P 500 got support at their 20-dema lines.

February nonfarm payrolls came in at 235,000 vs est 188,000. The prior month's reading was revised to 238,000 from 227,000. Nonfarm private payrolls added 227,000 vs. est 185,000. The unemployment rate decreased to 4.7% vs. est 4.7%.

Average hourly earnings increased 0.2% vs. est +0.2%), while the previous month's reading was revised to 0.2% from +0.1%. The average workweek was reported at 34.4 matching estimates. The previous month's reading was left unrevised at 34.4.

Futures are up on the strong jobs report.

Focus List Update:

CC traded close to its 20-dema on low volume once again. Volume dry-up action is bullish.

MOMO gapped lower at yesterday's open. After Wednesday's near +14% gain, its price is clearly getting ahead of itself, so you either take profits near the close or at the gap lower the next day when it opened at 32.93.

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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