Market Lab Report - Premarket Pulse 7/9/15

Published : July 9 2015 at 8:40 ET
Major averages fell yesterday on lower volume, some of this due to a four-hour NYSE trading halt, with both the S&P 500 and DJIA once again closing below their respective 200-day moving averages. The issues in Greece remain pending. China's markets rocketed higher though this could amount to nothing more than a dead cat bounce as the Chinese government attempts to artificially prop up its markets. With heightened news driven volatility, gaps higher or lower at the open are the norm, so for now, the sidelines are not a bad place to be.

Remember that successful investing is not about guessing at bottoms, but about identifying meaningful trends in stocks, so the difference between anyone who guessed at a bottom on Tuesday and anyone who guessed at a bottom on Wednesday is simple luck. With markets so oversold, a bounce in China was bound to come eventually, and of course this leads to a similar reaction in our markets. One can simply be patient and watch to see how things develop from here as stocks potentially try to set up again.

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.