The major market indexes were all up yesterday, but remain within their recent price ranges. Volume was lighter on the day as the Thanksgiving Holiday approaches. Despite the quiet index action, some Focus List stocks had very strong moves yesterday, highlighting the fact that this market remains a matter of focusing on the individual stock action rather than what the indexes may or may not do heading into a holiday period. That said, futures are up sharply as global markets rallied overnight, and the market rally continues.
Focus List Notes:
ANET had another big move yesterday, continuing its upside romp since pushing through the $200 Century Mark and triggering Jesse Livermore's Century Mark Rule as a buy signal at that point.
BABA gapped up ad churned around in a narrow range. Volume was insufficient for a buyable gap-up.
CAT continues to track sideways in what is a four-week base. The 20-dema has so far acted as a reference for support on pullbacks.
FB pulled into its 20-dema on volume that was -34% below-average. This puts is in a lower-risk entry positon using the 20-dema or 50-dma as your selling guides.
NFLX is holding right at it 50-dma as volume declined to -46% below-average. This puts is in a lower-risk entry position using the 50-dma as tight selling guide.
NVDA is tracking tightly along its 10-dma as volume dried up to -35% below-average yesterday. This puts in a buyable positoin and within range of its prior buyable gap-up, using the 20-dema as a maximum selling guide.
TTWO remains within buying range of its prior buyable gap-up of eight trading days ago. One can choose to use the 10-dma or 20-dema as selling guides.
WB is further extended from its last buy point closer to the 50-dma and the 105 price level after making another all-time high yesterady on above-average volume.
Market Lab Report - Premarket Pulse for Tuesday, November 21, 2017
| Published: | 21 Nov 2017 08:36 ET |
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