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.
The NYSE-based indexes, the S&P 500 and Dow Jones Industrials Indexes pulled back back for the week, but within the context of the prior uptrend off the early May lows, the pullback does not disrupt the current uptrend in these indexes. Meanwhile, the small-cap Russel 2000 Index and the NASDAQ Composite Index remain in new-high territory.
On Friday, news that the Trump Administration was moving forward with $50 billion of tariffs on Chinese goods and services combined with triple-witching options expiration volatility sent the indexes slightly to the downside on heavy options-expiration related volume.Overall, the action had the feel of a shakeout, as all of the major market indexes closed near the highs of their daily trading ranges. The NASDAQ, after posting a new all-time high on Thursday, pulled back a scant -0.19% on Friday, closing nearly at its highs for the day.
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.
Focus List stocks have continued to trend higher with the market. Amazon.com (AMZN), Fortinet (FTNT), and Netflix (NFLX) are all extended, so only pullbacks into their 10-dmas would offer lower-risk entries. NFLX, however, posted a pocket pivot breakout on Thursday, but the stock was already buyable before that move per our comments earlier in the week.
Baozun (BZUN has dipped below its 10-dma on lighter but still above-average volume. As we've discussed in recent morning notes, we would look for a test of the 20-dema as a more opportunistic, lower-risk entry point.
Nvidia (NVDA) is resting at its 10-dma, closing just up and off the line on Friday, which has the look fo supporting action at the moving average. On Thursday, NVDA broke out to all-time highs on a five-day pocket pivot signature, but was unable to build on that move. However, this pullback into the 10-dma creates a lower-risk entry spot using the 10-dma as a tight selling guide.
Square (SQ) remains extended from its recent base breakout,but found support at the 10-dma on Friday before posting an all-time closing high.