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Market Lab Report - Premarket Pulse 7/19/17

Major averages rose on higher volume. Leading stocks including the FANG names are off to the races, many at new highs. Earnings kicked off strong overall. The Bank of Japan releases its policy statement later today while the ECB does so tomorrow. All eyes will be on any signs of further recovery of their respective economies.

Focus List Notes:

LITE continues to pull down and is now below its 10-dma and 20-dema but holding above the rising 50-dma. Selling volume has picked up for two days but was still -2% below average yesterday. We would look for the 50-dma to hold as maximum downside support on any further pullback from here.

NFLX posted a buyable gap-up yesterday with an intraday low of 174.24.

NOW is holding tight just above its 10-dma. Earnings are expected next week.

VEEV has pulled into its 10-dma on volume that was -39% below average yesterday. This puts it in a lower-risk entry position using the 10-dma as a selling guide.  

YNDX remains within a tight three-day range following last Thursday's buyable gap-up move. While it has not shown any upside impetus following the BGU, it does remain within buying range, using the 30.90 BGU low as a tight 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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