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Market Direction Model - Update 5-17-16

MDM remains on its sell signal. The S&P 500 is flirting with its 50-day moving average. Volume is currently slightly higher on both the S&P 500 and NASDAQ Composite. 

The major averages reacted somewhat negatively to the Consumer Price Index (CPI) for April which came in slightly above expectations, pushing the year-over-year increase to 1.1%. Higher inflation numbers may force the Fed's hand to raise rates sooner than later. That said, Fed futures on the odds of a rate hike at the next meeting rose slightly, but are still at ultra-low levels.

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.
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