Major averages finished mixed on lower volume. The VIX hit all-time lows of 9.26 and is heading to new lows in pre-market trade. In December 1993, the VIX hit a low of 9.31. We sent out a market lab report on this notable event yesterday.
Futures are mildly lower as GOOGL looks to trade lower by about 3%. Even though earnings came in ahead of expectations, GOOGL has to pay a $2.7 billion anti-trust fine and also reported a 23% drop in cost-per-click.
Focus List Notes:
APPN successfully tested its 20-dema yesterday as volume declined. Earnings are expected sometime this week, although a confirmed date is currently not available.
BABA has pulled into its 10-dma with volume drying up to -43%, a lower-risk entry position ahead of earnings on August 9th.
LITE broke out yesterday on strong volume after posting a series of pocket pivots along its 10-dma and 20-dema as discussed in previous notes.
NTNX continues to pull back after a strong post-BGU move. Volume has been on a steady decline as the rising 10-dma moves closer to the stock. A pullback to or meet-up with the 10-dma would offer a lower-risk entry opportunity, should it occur.
VEEV posted a pocket pivot yesterday on what could be considered a trendline base breakout. We discussed the stock as buyable along the 10-dma and 20-dema in our weekend Focus List Review.
YEXT pulled into its 10-dma yesterday as volume declined to -50% below average. This would represent a lower-risk entry here using the 10-dma or 20-dema as tight selling guides.
Market Lab Report - Premarket Pulse 7/25/17
|Published:||25 Jul 2017 09:24 ET|
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. ©2023 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.