Major averages rallied on lower volume. A number of tech juggernauts have closed at new highs including AMZN, AAPL, FB, BABA, and NFLX though breakouts have been on below average volume for FB, BABA, and NFLX. The NASDAQ-100 consequently closed at new all-time highs while the S&P 500 and Dow Industrials lag. The current bounce remains tentative. Watch your stocks to remain fluid to any possibilities.
Focus List Notes
AMZN broke out yesterday on above-average volume.
JD is holding tight along its 10-dma with volume drying up.
MKSI is holding tight along its 10-dma with volume drying up.
MOMO is holding tight along its 10-dma.
NTES has pushed below its 20-dema on increased selling volume. This brings the prior 278.80 intraday low of its February BGU into play as a maximum selling guide.
SNAP found support at its 10-dma yesterday and bounced. We would advise keeping entries to as close to the 10-dma as possible to limit risk.
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