fb
X
X
Tired?
Unfocused?
Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
YES, SEND ME THE REPORT !
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
YES, SEND ME THE FILE !
YES, SEND ME BOTH !
Your email will always remain private.

Market Lab Report - After the Open 12/21/16

Major averages closed yesterday near the highs of their trading ranges on mixed volume. While the Dow failed to hit 20,000 once again after getting to within 13 points of this much hyped price level, the NASDAQ Composite posted a new closing high.

The VIX is testing lows not seen since last July 2014 while the DJIA is just a heartbeat away from 20,000. Back in March 1999 when the Dow went through 10,000 by more than just a point, it had a high volume reversal that same day then corrected -4.6% over the next couple of days.

The news reported that the reason behind the selloff was weakness in tech stocks. That said, this seemed to be more of an alibi used to justify the market pullback. In other words, the news will always find a reason for market action whether it's true or not.

With the Dow almost at 20,000, institutions could use that level as a way to unload unwanted stock which could cause a high volume reversal, at least for a couple of days. Keep a close eye on market action as it unfolds.

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.
FOR OUR FREE MARKET LAB REPORT :
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy