X
Tired?
Unfocused?
Off your game?

Read our free 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 !
NO, I'M NOT INTERESTED
Your email will always remain private.

Market Lab Report - Premarket Pulse 12/16/16

Published : December 16 2016 at 9:21 ET

Major averages closed yesterday roughly midbar on mixed volume. The Dow Industrials continues to flirt with the 20,000 level, but was denied again yesterday as the index gave up nearly two-thirds of its early gains by the close. The NASDAQ stalled on higher volume, marking a churning day for the index.

Futures are mildly higher on an analyst upgrade of GE but a downgrade of KO. ORCL is lower by 3% on a weak earnings report, released last night. Housing starts slowed to an annualized rate of 1.09 million vs estimates of 1.23 million, while building permits eased to a rate of 1.201 million vs. 1.24 million permits expected.

As the Dow has stalled on its attempts to clear the "magical" 20,000 price level, the situation with individual stocks is somewhat mixed, although we have seen some constructive action among our Focus List stocks, such as NVDA, Z, and ANET, for example. We would remain alert to any sudden changes in the action of current leading stocks in the event that the recent stalling and churning action in the indexes leads to a more significant pullback.


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. ©2017 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.