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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.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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