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Market Lab Report - Premarket Pulse 7/27/17

Major averages finished mixed on mixed volume with the S&P 500 and NASDAQ Composite nearly flat and the small caps Russell 2000 lower by about half a percent.

The Fed's minutes said the labor market, jobs growth, and economic activity have been strengthening while overall inflation excluding food and energy prices have declined and are running below 2 percent. Markets held steady then staged a very minor rally.

Futures are markedly higher on the NASDAQ as FB earnings came in strong, sending the stock higher by 6% in premarket trade. Further, AMZN which reports after today's close is also gapping higher by 1.5%.

Focus List Notes:

Most names on the list remain in extended positions and out of buying range.

LITE has pulled back towards its 10-dma after Monday's big-volume base breakout. This would bring it into a lower-risk entry position. Keep in mind that earnings are expected next week.

NOW reported earnings last night and is gapping up only slightly, but could be in a buyable position here using the 10-dma as a tight selling guide.

NTNX is testing its 10-dma, which puts it in a lower-risk entry position using the rising 20-dema, now at 21.68, as a selling guide. Preferably, the stock should hold along its 10-dma.

VEEV has pulled down towards its 10-dma following Monday's pocket pivot and trendline breakout, putting it in a lower-risk entry position here using the 10-dma as a selling guide.

YEXT is testing the 20-dema on below-average volume. Selling volume picked up yesterday, but we would look for the stock to hold above the 20-dema at best, or at worst the 50-dma which is only 2.2% lower.

YNDX is expected to report earnings tomorrow before the open.
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