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Market Lab Report - Premarket Pulse for Friday, August 3, 2018

Major indexes gapped down at the open as Put/Call ratios spiked, but the opening levels were the lowest levels of the day as the indexes made their way back into positive territory. Apple (AAPL) led the NASDAQ up 1.24% as it became the first U.S. company to achieve a $1 trillion market cap.

Futures are slightly higher the time of this writing. Despite the fanfare of Apple's market cap hitting $1 trillion, the trade war remains a deep concern. The Trump administration may double proposed tariffs on the $200 billion in Chinese goods which would provoke a full retaliatory response by Beijing. So the market remains somewhat sidelined. Volumes have been muted in the bounce that began in early July while selling volumes have been more significant. Nevertheless, global QE continues its successful struggle to push US markets and the new 'alt-currency' FAANG stocks higher in sloppy fashion. 

Focus List Notes:
AMZN held support and rallied off its 20-dema and back above its 10-dma.
BZUN is retesting Tuesday's low as volume dries up.
FTNT reported earnings and posted a buyable gap-up move, with the intraday low of 70 serving as your selling guide.
NVDA has rallied back above its 344 low of July 17th, closing yesterday at 344.50. This triggers a U&R long set-up using the 344 price level as a tight selling guide.
SQ posted a pocket pivot after reporting earnings, and moved to a new all-time closing high yesterday. 
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.
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