Tag Archives: market lab report

Market Lab Report – Premarket Pulse 7/14/15

Major averages gapped higher yesterday at the open on positive news of a debt agreement in Greece then continued to rally for the remainder of the trading day with closes near the top of their intraday trading ranges. Volume was higher but below average. The NASDAQ Composite, S&P 500, DJIA, and Russell 2000 all closed above their respective 50-day moving averages for the first time in about two weeks. Obviously, the ability of the market to sustain any kind of rally attempt will hinge on the averages being able to remain above their 50-day lines. Thus we would look for any consolidation that holds just above or along the 50-day line to as a constructive development from here. Television station operator Gray Television (GTN) had a pocket pivot breakout yesterday. Earnings are skyrocketing, ROE 24.6%, group rank 18. Medical company Edwards Lifesciences (EW) had a pocket pivot breakout yesteday. Earnings are strongly accelerating, pretax margin 20.6%, group rank 35.  

Market Lab Report – Premarket Pulse 7/13/15

Major averages gapped up on Friday and then mildly pulled back on Fed Chief Janet Yellen’s fedspeak that the Fed will more than likely have to raise interest rates before the end of the year as she believes growing signs of economic strength are evident. Unlike Thursday’s gap-up, the market quickly recovered from the dip and held its gap, rallying higher throughout much of the day as issues in Greece seemed more likely to resolve with an agreement being reached as Sunday’s deadline loomed. Volume, however, was lower. That said, Sunday’s talks did finally yield an agreement to prevent Greece from exiting the Eurozone, though it could send Greece further into recession, while Chinese markets rallied again overnight, sending the futures sharply higher this morning. Finance payment network company Blackhawk Network Holdings (HAWK) had a pocket pivot on Friday. Earnings and sales are accelerating, ROE 33%, group rank 90. Drug maker Regeneron PharmaceuticalsREGN had a pocket pivot on Friday. Earnings and sales are accelerating, pretax margin 41.7%, ROE 52.3%, group rank 3.

Market Lab Report – Premarket Pulse 7/10/15

Major averages rose only fractionally yesterday after gapping appreciably higher at the start of the day. All the majors finished the day near the low of their trading ranges, volume was lower on the NASDAQ Composite but higher on the S&P 500 due to Wednesday’s NYSE 3+ hour trading halt. Futures are trading higher by more than 1.3% as a positive resolution to the issues in Greece may come as soon as today. Greece submitted a new reform proposal which is closer to creditors’ demands. European markets are trading higher by 2-3% at the time of this writing. Investors are again faced with a big gap-up open, and whether this one leads to a more sustained bounce off of recent lows remains to be seen. It is, however, more a matter of where leading stocks are within their chart patterns, and in most cases a “busted” pattern does not present any truly coherent, lower-risk entry points for anyone thinking about taking the long side of today’s big gap-up. As it turned out to be yesterday, a gap-up this morning could just as easily turn into a short-selling opportunity.