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Market Lab Report - Premarket Pulse 8/2/17

Major averages rose on lower volume. Futures are up strongly on the NASDAQ after Apple (AAPL) beat both top and bottom line estimates and issued encouraging guidance that suggests the fall iPhone 8 launch is on track. Apple is up more than 6% in pre-market action.

Focus List Notes:

Stocks are reacting to the upside this morning as a result of AAPL's earnings report last night and subsequent gap-up this morning. Few Focus List names, however, are at lower-risk entry positions, and most are expected to report earnings over the next few days, such a AAOI, ANET, APPN, BABA, BZUN, LITE, and TTWO.

NTNX is attempting in pre-open trade to rally back above the prior 21.62 low of its July 14th BGU. That would set up a undercut & rally entry using the 21.62 price point as a selling guide.

NOW is holding above its 10-dma and 20-dema which keeps it in a lower-risk entry position using the 20-dema as a selling guide.


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