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VoSI Focus List Review for the Week Ended June 15, 2018

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: 
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.

Notable Action: 
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.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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