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Market Lab Report - Premarket Pulse 4/25/17

French stocks had their best day in 5 years sending global markets higher as well. US major averages gapped higher by just over 1% on French election news and held their gains on mixed volume. The VIX, meanwhile, gapped lower to have one of its worst one-day losses in its entire history. The election news out of France came as a surprise to markets in general.

Fears have greatly diminished that Marine Le Pen could win the French presidency. Le Pen had vowed to put France up to a referendum vote, thus putting a possible "Frexit" into action should she win the presidency and threatening the stability of the EU. Political pundits have said it is highly unlikely Le Pen will win, though they said the same about Brexit and Trump. Social unrest continues to grow, having become more prevalent over the last few years, so the question is whether enough of the French voters want change as represented by Le Pen, or would rather maintain the status quo as represented by her challenger Emmanuel Macron.

Focus List Review

Most names on the Focus List were up nicely yesterday, leaving few in lower-risk entry positions. Several names are also expected to announce earnings over the next several days, including AMZN and COHR on Thursday, and others like BABA, CC, FB, SQ, and TSLA next week.

SNAP is sitting right at its 20-dema with volume drying up to the lowest levels in its entire, short trading history. This puts the stock in a lower-risk entry position using the 10-dma as a maximum selling guide, or the 20-dema as a much tighter selling guide.

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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