MLR - PMP 1/15/15

Published : January 15 2015 at 9:26 ET

Major averages fell yesterday on mixed volume, marking the third distribution day in a row for the S&P 500. With the indexes down three days in a row a short-term bounce would not be surprising, but so far this morning futures are up only slightly. Oil bounced but the downtrend still seems intact while gold and silver continue to make higher highs, with gold hitting a high of $1262 an ounce. Meanwhile, Treasury yields continue lower. The global recovery seems more distant with each passing day spurring central banks to accelerate their money printing programs, and this appears evident in the prices of precious metals.

The Market Direction Model remains on a sell signal.

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.