VoSI Focus List Review for the Week Ended June 1, 2018

Published:

3 Jun 2018 16:14 ET

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 NASDAQ Composite Index broke out to a higher high on Friday as it closes in on its 2018 highs from early March.
Volume was lighter, but above-average. The question is whether the index will encounter any resistance as it moves to the highs of a volatile price range extending back to late January. For now, as long as this breakout holds, the potential for new all-time highs remains a distinct possibility.

Meanwhile, the S&P 500 Index has moved back to the highs of its range, although it did manage to post a higher closing high on Friday. Volume was much lighter vs. Thursday's levels and only about average. We would like to see the S&P 500 breakout and follow the NASDAQ to new highs as additional confirmation of the market rally.

The Market Direction Model (MDM) went to a buy signal on Friday at the open.

Removed from the List this Week: None.

Focus List Stocks Expected to Report Earnings this Week: None.

Notable Action:
All of our Focus List stocks made new all-time highs on Friday, with the lone exception of Nvidia (NVDA). However, NVDA did stage a re-breakout attempt as it cleared the highs of its prior base. Previously, the stock had broken out but failed after earnings. It has since held along the 20-dema and is now attempting to push back into new-high price territory as it gets prodded higher by the general market action. Technically, one could consider this buyable using the top of the base or the 10-dma as a selling guide.

With respect to the other names on the Focus List, all are currently extended and out of buying range.

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.