Major averages fell yesterday on higher volume with the NASDAQ Composite falling the most due to disappointing earnings from Apple (AAPL). The number of distribution days are mounting again, but actionable names are holding up overall. While the broader market has lagged as represented by the New York Composite Index, which is now sitting right on top of its 200-day moving average, the position of the index does set up the context for a possible bounce from current levels.
Car dealership chain Lithia Motors (LAD) had a pocket pivot yesterday off of its 50-day moving average. Earnings and sales are strong, institutional sponsorship has grown over the last 5 quarters.
Market Lab Report - Premarket Pulse 7/23/15
|Published:||23 Jul 2015 12:48 ET|
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