Tag Archives: market lab report

Market Lab Report – Premarket Pulse 4/27/15

Major markets rose Friday, with the exception of the small cap Russell 2000, on mixed volume. The NASDAQ Composite moved up for the fifth day in a row, with the last four days closing above its 5000 resistance level. Strong earnings report performances by GOOGL, MSFT, and AMZN helped the NASDAQ finish well ahead of the other averages. The Fed will be issuing their current policy statement on Wednesday, and this will be closely watched for language hinting at an impending interest rate rise in June. The number of actionable leading names over the past several days emailed to members in real-time has been pronounced. Indeed, a number of these names have continued to move higher and are now looking extended. While the major averages have been unable to muster any sort of longer term uptrend since December, markets do not stay in trading ranges forever, thus the recent action on behalf of leading stocks could mean a shift into a longer term uptrend. That said, it is entirely possible the market will once again find a short-term top and trip over itself as it has done many times since December. Taking profits when you have them in context with the chart and market conditions has been a key strategy to profiting in this environment. Thus if any of your stocks seem overbought at this juncture, taking at least half off the table can be prudent. Web hosting business Rackspace Holdings (RAX) had a pocket pivot breakout on Friday. Earnings are accelerating, up 86% in the last quarter, group rank 12.

MLR – PMP 4/24/15

Major averages rose yesterday on higher volume. The NASDAQ Composite had its third day of higher close above the 5000 resistance level. It stands a mere 1.48% below its all time high of 5,132. It’s the last major index to hit new highs because it carried the most explosive upside back in late 1999/early 2000 just before the dot.com bubble burst. NASDAQ futures are up sharply this morning after big after-hours, post-earnings moves in Amazon.com (AMZN), Google (GOOGL), Microsoft (MSFT), and Starbucks (SBUX) last night while the S&P futures remain relatively flat. Boding well for a continued uptrend, another slew of actionable names appeared further demonstrating healthy market internals: Automotive parts retailer ORLY had a buyable gap up on a strong earnings report. Earnings are accelerating, ROE 39.1%, group rank 43. Pocket pivots: Cannabinoid maker GWPH – another pocket pivot. We reported on this stock on April 13 when it had a pocket pivot. It is the leading stock in its space. Clothing retailer GIII – earnings are accelerating, group rank 31. Clothing retailer HBI – earnings and sales are accelerating, ROE 44.1%, group rank 31. Cosmetic beauty retailer ULTA – gapped up on its prior earnings report. Group rank 44. IT management services company TYL had a pocket pivot after reporting earnings. There was a tug-o-war but the bulls seem to be winning. Pretax margin 23.6%, group rank 10.

MLR – PMP 4/23/15

Major averages rose yesterday on mixed volume. Though volume was lighter on the NASDAQ Composite, the index closed for the second consecutive up day in a row above 5000 and at a new 14-year closing high while major averages closed near the top of their respective trading ranges. Leading stocks continue to act well which tilts the odds in favor of a new uptrend. Footwear retailer Skechers (SKX) had a pocket pivot. Earnings stellar and sales accelerating, came up off its 10dma on a strong earnings report, group rank 40. We reported on SKX when it had a pocket pivot on March 18. Big-stock social-networker Facebook (FB) announced earnings yesterday and sold off initially but this morning is edging back above the 84 level after trading down to 82 in after-hours trade last night. FB issued a pocket pivot on Monday.