Major averages sold off yesterday, with big-cap NASDAQ techs taking most of the selling pressure as the NASDAQ 100 Index was off -0.50%. Volume declined on both the NYSE and NASDAQ exchanges. Overnight the Senate voted to to pass the final version of "tax reform" legislation, sending futures higher this morning. So far, any "sell the news" reaction isn't happening, but it still remains a matter of finding stocks at actionable buy points if one is looking to get long for a possible rally into the long Christmas weekend.
Focus List Notes:
CAT remains extended.
FB held support at its 20-dema, closing up and off its intraday lows to close in the upper part of its daily price range. The 20-dema was a reference for a lower-risk entry on a pullback per our prior notes on the stock.
Market Lab Report - Premarket Pulse for Wednesday, December 20, 2017
|20 Dec 2017 09:00 ET
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