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 - Premarket Pulse 5/19/16

Major averages closed roughly midbar yesterday, finishing flat to higher on lower volume. Both the NASDAQ Composite and the S&P 500 Index found support along recent lows in the 2710 and 2040 price regions, respectively.

The market yo-yo'd around after the Fed minutes were released at 2:00 p.m. EDT yesterday. Most of the Federal Reserve’s members are ready to lift interest rates in June if the economy shows life. Markets initially fell sharply on the news but then rallied as higher rates are indicative of a healing economy, though the painted numbers remain suspect. Also, the aggressive stance taken by the Fed removes some of the uncertainty, and markets have a strong dislike for uncertainty. Still, this could be more jawboning by members of the Fed to give the appearance they are taking an active stance. Yellen has attested to the ailing global economy which must heal before the Fed hikes rates again. 

“Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2% objective, then it likely would be appropriate for the Committee to increase the target range for the federal funds rate in June,” the minutes read.

With the recent jump in CPI, this increases the odds the Fed may hike at their next meeting that takes place in June. Indeed, Fed futures show the odds of a rate hike in June jumped from 15% to 34%. And the odds of a rate hike of at least 50% is now predicted for the meeting in July instead of in November.

Beauty retailer Ulta Salons & Fragrances (ULTA) had a pocket pivot. Earnings are accelerating, ROE 23.8%, group rank 9. It is currently trading in a tight channel.

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