Major averages fell on higher volume which was noticeably more pronounced on the tech-heavy NASDAQ Composite as it continues to lag the S&P 500 which has benefited from money flow into financial names.
There are no Focus List names at lower-risk entry positions. However, we would advise caution given that several names on the list have rallied back up near prior highs and could be setting up in short-term double-top formations. At best we believe they would need to back-and-fill for a period of time and build new bases before presenting more coherent entry points.
These include: AMZN, BABA, FB, LITE, and NVDA. Other names looking a bit toppy around the 20-demas include BZUN, COHR, and NOW.
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