Major averages bounced on lower volume with both the NASDAQ Composite and S&P 500 clear their respective 10 and 20 day moving averages.
Futures are up as tensions between the U.S. and North Korea relaxed after North Korean leader Kim Jong Un pulled back on his threat to attack Guam. Jong Un decided not to launch a threatened missile attack on Guam, according to Pyongyang’s state media. The leader, however, warned that he could change his mind “if the Yankees persist in their extremely dangerous reckless actions.”
Focus List Notes:
APPN is holding along its 10-dma and 20-dema after failing on a recent breakout attempt. This could put the stock in a lower-risk entry position using the 20-dema as a very tight stop, which we would emphasize in this environment.
NFLX is attempting to hold support near its 50-dma and 10-week moving average. This may put the stock in a lower-risk entry position, using the 50-dma as a tight selling guide.
Short-Sale Notes: TSLA has rallied back above the 360 price level, but remains below near-term resistance around the 370 level. This remains within shortable range using the 370 level as a guide for an upside stop.
Market Lab Report - Premarket Pulse 8/15/17
| Published: | 15 Aug 2017 09:19 ET |
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