Major averages rose yesterday to close near the top of their tight trade ranges but on lower volume.
Futures are lower by about -0.2% at the time of this writing as European markets trade down about -1% on the German ZEW economic sentiment survey which fell to its lowest since 2012 on Brexit fears. Indeed, the UK leaving the EU will create economic headwinds for the EU, but should ultimately be good for the UK.
In earnings news, Netflix (NFLX) disappointed so is trading down about -15% ahead of the opening bell. Goldman Sachs (GS) will report earnings before the open.
Facebook (FB) - Pocket pivot base breakout, accelerating sales and earnings, pretax margin 55.6%, institutional sponsorship has grown in every quarter since the company went public 18 quarters ago. FB gapped higher after the last three earnings reports.
Ollie's Bargain Outlet Holdings (OLLI) - Bargain retailer, mid-base pocket pivot, earnings accelerating, institutional sponsorship has grown since it went public 4 quarters ago, group rank 48.
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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.