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|
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. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.