VoSI Focus List Review for the Week Ended August 31, 2018

Published:

3 Sep 2018 11:54 ET

Current Focus List

The VoSI Focus List is a compilation and reference list of stocks for which Pocket Pivot or Buyable Gap-Up Reports have been issued and which have been deemed suitable for inclusion on the Focus List. Not all stocks for which a Pocket Pivot or Buyable Gap-Up report has been issued will necessarily be added to the list. It is not intended as a "buy list" or a list of immediately actionable recommendations. Stocks on the list may or may not be in proper buy positions, and investors should exercise discretion and proper judgement in determining when and where stocks on the Focus List can be purchased. The following notes are intended to assist in this process. Please note that members can enlarge the Focus List image by clicking on the body of the email and then holding the Control Key while pressing the "+" key until it is large enough to read.

General Observations:
Major market indexes remain near their all-time highs. The NASDAQ Composite, S&P 500, and Russell 2000 Indexes all posted all-time highs this past week. All of the major market indexes are at or near their highs as they consolidate recent strength. The market uptrend remains intact.

The Market Direction Model (MDM) remains on a buy signal.

Removed from the List this Week: None.

Focus List Stocks Expected to Report Earnings this Week: None.

Notable Action:

Three out of the four Focus List Names, Amazon.com (AMZN), Fortinet (FTNT), and Square (SQ) moved to all-time highs this past week:

Baozun (BZUN) ran into resistance at its 50-dma on Wednesday of this past week. Volume picked up on Friday as the stock peeled further away from its 50-dma on the downside, but the price range was much narrower vs. Thursday's sharp drop from the 50-dma. The action is likely a function of President Trump's comments on Thursday that he would push forward with tariffs on an additional $200 billion of Chinese goods this coming week. Note that BZUN is holding above the late June low, which would represent the first low what is so far a double-bottom type of formation. Most all Chinese names have been clocked with many trading near their respective 200-day moving averages. Only a couple names have shown greater relative strength such as BZUN and MOMO.

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