Major market averages were up slightly yesterday, with slightly higher volume trading on the NYSE and slightly lighter volume on the NASDAQ.Outside of our BGU report on Riot Blockchain (RIOT), which trended strongly to the upside after we issued that report (and is up another 10-15% in pre-open trade this morning), the market action was mostly characterized by range-bound movement in individual stocks. Futures are mixed this morning as the Fed begins its two-day deliberations before making its monthly policy announcement tomorrow.
Focus List Notes:
CAT remains in an extended position, but low-volume pullbacks into the 10-dma at 141.22 can be watched for as lower-risk entry opportunities.
FB held tight as volume contracted sharply, closing at -21.7% below-average for the day. The 20-dema at 177.83 is the first line of support on any further pullback from here, with the 10-dma at 176.84 and the 50-dma at 176.40 representing successive references for support below the 20-dema.
Market Lab Report - Premarket Pulse for Tuesday, December 12, 2017
| Published: | 12 Dec 2017 08:51 ET |
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