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Market Lab Report - Premarket Pulse for Friday, November 24, 107

The market was mixed on Wednesday ahead of the long holiday weekend that will be broken up by a short trading session today. The Fed meeting minutes release on Wednesday was a non-event, with the Dow and S&P 500 closing down on lighter volume while the NASDAQ Composite was up on lighter volume as well.

Futures are up slightly this morning as strong Black Friday sales boost investor optimism.

Focus List Notes:

All but two Focus List names are mostly moving around within consolidations and price ranges. These all remain constructive, however, and may be simply setting up to move higher once the Senate vote on pending tax reform legislation takes place next week.

ANET remains extended but is starting to pull in. The 10-dma is your first reference for a lower-risk buy zone.

BABA is pulling in and the 10-dma is your nearest reference for support and a lower-risk entry point.

CAT posted a pocket pivot volume signature on Wednesday but is extended from its 10-dma so this would not qualify as a bona fide pocket pivot. Pullbacks to the 10-dma or 20-dema offer lower-risk entries.

FB pulled back slightly on Wednesday on lighter volume, keeping it within buying range of Tuesday's pocket pivot.

NFLX has now logged two five-day pocket pivots in a row, one on Tuesday and one on Wednesday. We like to see cluster of five-day pocket pivots in lieu of a single ten-day pocket pivot. This is in a buyable position using the 50-dma as a maximum selling guide.

NVDA remains in a buyable position along its 10-dma.

TTWO also remains in a buyable position along its 10-dma, using the rising 20-dema as your maximum selling guide.

WB is pulling back after a strong upside run-up from the 50-dma. The 10-dma would serve as your first reference for a lower-risk entry if and when the stock meets up with the line.

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