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Market Lab Report - Premarket Pulse for Wednesday, November 22, 2017

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.
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