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Market Lab Report - Premarket Pulse for Thursday, January 25, 2018

The NASDAQ Composite Index posted a distribution day yesterday, while the S&P 500 churned around to close down -0.06%. The market had opened up strongly, but then reversed sharply around mid-day before rallying off of its lows. The Dow, which was up 189 points early in the day, sold down to -100 before rallying to close up 41.31 points, a gain of 0.16%. The volatility presented some buying opportunities in favored stocks.

Futures are up around half a percent as the rally continues. Over in Europe, the European Central Bank just released its January policy statement, deciding to keep interest rates unchanged, as expected.

Focus List Notes:
BABA broke out of its current base on heavy buying volume. This is within buying range for those who like to buy base breakouts. However, we had previously declared the stock buyable along its 20-dema.
CAT reported earnings this morning and is currently trading 3.5% percent higher in pre-open trade.
NFLX held just above its 148.02 intraday low of Tuesday when it posted a gap-up move. In this case, its ability to hold that low is a positive, and made the stock's move treatable as a buyable gap-up using that 148.02 low as a selling guide.  The stock closed the day up another 11.01 points.
SQ sold off with the market on an intraday basis and found support near its prior cup-with-low-handle breakout point just below the 43 price level. So far, the stock is holding  the breakout reasonably well, albeit without some intraday volatility, as volume dries up. This constructive and keeps the stock within buying range of Monday's breakout.
TTWO found support at its 20-dema,  which would represent a lower-risk entry point.
WB found support at its 10-dma, which would represent a lower-risk entry point for the stock.

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