Major market averages sold off yesterday on lighter, post-holiday volume. The NASDAQ Composite and more specifically the NASDAQ 100 Indexes were hit the hardest as Apple (AAPL) gapped down to its 50-dma on news of weaker than expected iPhone X sales.
Gold is rallying off its lows with the SPDR Gold Shares (GLD) posting a gap-up pocket pivot through its 50-dma yesterday.
Futures are mixed this morning but mostly flattish as quiet action dominates.
Focus List Notes:
Caterpillar (CAT) continued its winning ways by notching its seventh straight up day and sixth straight new high.
Facebook (FB) broke further below its 50-dma early in the day yesterday, most likely in sympathy to the drop in Apple (AAPL). It is no longer in an actionable position and has again "violated" its 50-dma.
Market Lab Report - Premarket Pulse for Wednesday, December 27, 2017
|Published:||27 Dec 2017 08:34 ET|
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