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Market Lab Report - Premarket Pulse for Thursday, December 7, 2017

Markets were mixed as large-cap NASDAQ 100 names rebounded, sending the index up 0.45% while the NASDAQ Composite Index rallied 0.21%. The Dow Jones Industrials came off -0.16% while the S&P 500 was flat, down a mere -0.01% on the day. With most beaten-down techs, internets, and other growth leaders extended on the downside, an oversold rally in these names is logical. This is so far leading to a shift in the prior divergence where the NYSE-based indexes were moving higher as the NASDAQ Composite and NASDAQ 100 Indexes were getting hit hard. Now the reverse is occurring, with Dow and S&P futures down this morning while NASDAQ futures rally. The divergences remain troubling, and for that reason we believe investors should continue to tread a cautious path.

Focus List Notes:
CAT pulled into its 10-dma as volume dried up, technically putting it in a lower-risk entry position at the line. The 20-dema would serve as a maximum selling guide. We would expect, however, that if the Dow and S&P 500 begin to join the NASDAQ with respect to more deleterious downside action, that CAT would breach near-term support, and for that reason we would remain very nimble with this stock if choosing to buy into this pullback.
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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.
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