Major averages rose on higher volume. The ADP National Employment Report showed an increase of 235,000 in October vs est 215,000. The September reading was left unrevised at 135,000. Interestingly, AAPL is less than 15% away from a market cap of $1 trillion while embattled GE continues its struggle as it trades nearly -40% from its highs.
Focus List Notes:
ANET moved to all-time highs yesterday as it tests the $200 Century Mark level on above-average volume.
BABA broke out to new all-time highs yesterday on strong volume as it rallies straight off its recent lows after violating its 50-dma last week. This is typical "Ugly Duckling" action in a leading stock that finds its feet just when it is looking its ugliest and then turns right back to the upside.
NFLX is sitting right at its 10-dma as volume declined to -24% below-average yesterday. Technically, this is in a lower-risk entry position using the 10-dma or 20-dema as selling guides.
WTW regained its 50-dma yesterday on weak volume. This remains in limbo along the 50-dma ahead of earnings which are expected next week.
Market Lab Report - Premarket Pulse 11/1/17
| Published: | 1 Nov 2017 09:09 ET |
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