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.
Market Lab Report - Premarket Pulse 7/19/17
|Published:||19 Jul 2017 09:29 ET|
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