Major averages finished flat to lower on higher volume. The rate of ascent has slowed allowing the 10- and 20-day moving averages to catch up.
Focus List Notes:
NFLX closed six cents below its 20-dema yesterday on volume that was higher than the prior day's volume, but -15% below-average. The next level of support is the 50-dma, and one should be open to the possibility of NFLX morphing into an LSFB short-sale set-up.
TTWO reported earnings yesterday after the close and is gapping up about 12% this morning. This should be monitored for a possible buyable gap-up buy set-up if it can set a firm intraday low.
WTW gapped up yesterday after earnings and closed in the lower part of its gap-up trading range. The stock set an intraday low yesterday at 49.22 and closed t 50.87, so could be considered to be within buying range of that low while using it as a tight selling guide.
Other Focus List names are holding their own along with the major market averages.
Note that while holding a stock through earnings carries gap down risk, if you had sufficient profit cushion, you may choose to hold a partial or full position into earnings, depending on your personal risk tolerance levels.
Market Lab Report - Premarket Pulse 11/8/17
| Published: | 8 Nov 2017 09:25 ET |
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