Major averages were mixed on higher volume.
The Federal Reserve issues its FOMC statement at 2:00 PM ET. Expect more of the same jawboning of a recovering economy with a wait-and-see approach after the Fed hikes one more time this year. Facebook reports earnings after the close. Amazon follows on Thursday.
Focus List Notes:
BABA is holding tight along it 10-dma as volume dries up.
LITE is within buying range of Monday's base breakout. The stock was previously buyable closer to the 60 price level along the 10-dma and 20-dema just a few days ago per our prior notes.
NTNX found support at its 10-dma, which presented a lower-risk entry point yesterday per our morning notes at that time.
TTWO broke out of a cup base yesterday on strong volume.
VEEV pulled back on higher volume yesterday after posting a pocket pivot and trendline base breakout on Monday. This pullback would provide a lower-risk entry closer to the 10-dma.
YEXT has moved a bit further down in its pattern, now meeting up with its 20-dema, which puts it in a lower-risk entry position using the 20-dema as a tight selling guide.
Note that NOW is expected to report earnings today after the close.
Market Lab Report - Premarket Pulse 7/26/17
| Published: | 26 Jul 2017 09:12 ET |
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