MLR - PMP 11/12/14

Published : November 12 2014 at 8:23 ET

Major averages closed unsurprisingly near flat yesterday on lower volume in a quiet Veterans Day holiday session. The slowdown in the market's rise since its hard bounce off lows a few weeks ago allows it to consolidate its sharp gains. Nevertheless, there is currently no QE safety net though markets anticipate a resumption of QE in some form by the Federal Reserve given the pro-QE stance of other major central banks.

As the indexes continue to move higher on lighter volume, breadth continues to decline. Despite making new highs yesterday, declining stocks led advancing stocks on the NASDAQ Composite while NYSE advancers slightly led decliners. This sets the stage for a pullback as futures sell off this morning in pre-open trade.

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.