The major market indexes showed more ebullience yesterday as the NASDAQ Composite pushed over 1% higher on
increased volume. New highs were also seen in the S&P 500, Dow, and Russell 2000 indexes, all on higher volume. This morning futures are up slightly ahead of today’s release of the latest Fed minutes.
Focus List Notes:
ANET reversed slightly off the highs after trending 15% higher since its last buy point near the $200 Century Mark.
Pullbacks to the 10-dma would serve as your next reference point for potentially buyable pullbacks.
BABA posted a new all-time closing high today on volume that was 9% above-average. We would not chase this, as the
stock has been in a choppy, volatile range for the past two-plus months, and is best bought on pullbacks to logical support
along the 20-dema or 50-dma.
CAT was up yesterday but objectively has done little more than move to the top of its four-week base. The 20-dema has so far acted as a reference for support on pullbacks.
FB posted a pocket pivot yesterday as it pushes up towards its prior November 1 highs.
dema or 50-dma as your selling guides.
NFLX rallied off its 50-dma yesterday and closed above its 10-dma and 20-dema. Volume was higher but well below-average as the stock stalled to close about mid-range on the day. While the price move was positive, NFLX still remains within a five-week base, and nothing more.
NVDA rallied yesterday on light volume to move back up to the highs of its current seven-day price range follows its prior buyable gap-up.
TTWO still remains within buying range of its prior buyable gap-up of nine trading days ago and is currently sitting right at its 10-dma. If one chooses to enter the stock here on the basis of the prior BGU, then the 10-dma can serve as a tight selling guide.
WB remains extended.
high yesterady on above-average volume.
Market Lab Report - Premarket Pulse for Wednesday, November 22, 2017
|Published:||22 Nov 2017 08:36 ET|
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.