Major averages bounced on lower volume with both the NASDAQ Composite and S&P 500 clear their respective 10 and 20 day moving averages.
Futures are up as tensions between the U.S. and North Korea relaxed after North Korean leader Kim Jong Un pulled back on his threat to attack Guam. Jong Un decided not to launch a threatened missile attack on Guam, according to Pyongyang’s state media. The leader, however, warned that he could change his mind “if the Yankees persist in their extremely dangerous reckless actions.”
Focus List Notes:
APPN is holding along its 10-dma and 20-dema after failing on a recent breakout attempt. This could put the stock in a lower-risk entry position using the 20-dema as a very tight stop, which we would emphasize in this environment.
NFLX is attempting to hold support near its 50-dma and 10-week moving average. This may put the stock in a lower-risk entry position, using the 50-dma as a tight selling guide.
Short-Sale Notes: TSLA has rallied back above the 360 price level, but remains below near-term resistance around the 370 level. This remains within shortable range using the 370 level as a guide for an upside stop.
Market Lab Report - Premarket Pulse 8/15/17
|Published:||15 Aug 2017 09:19 ET|
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.