Market Lab Report - Premarket Pulse 11/23/15
Over the weekend, we sent out the weekly report to members that covered our views on actionable stocks emailed to members for this past week.
Major averages rose on mixed volume, a surprising occurrence as Friday was triple witching day when volumes are usually exaggerated. Incidentally, from here until the end of the year, the S&P 500 has always been up since 2003. Of course, keep in mind these are not "normal" times so even such good odds can be broken.
Oil and the Commodity Research Bureau (CRB) Index are closing in on multi-year lows putting pressure on European markets. Futures are currently trading lower. CME FedWatch puts the odds at 74% that the Fed will hike rates when it meets in December. Meanwhile, the European Central Bank is expected to ease further this week. So as has been characteristic for this year, crosscurrents prevail making for a trendless, rip-tide environment in the major averages. Still, profit opportunities have presented in stocks provided one stay disciplined by taking profits in context with the stock's chart and general market while keeping stops tight.
This information is provided by Virtue of Selfish Investing, LLC (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, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.