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Market Lab Report - Premarket Pulse 7/25/17

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.

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