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Market Direction Model - Model switches to CASH/NEUTRAL on November 2, 2020

Model switches to CASH/NEUTRAL.

The uncertainty that prevails concerning a number of key factors suggests cash is the best place to be for now in terms of market timing. While a stimulus package is long overdue, such stimulus has become more politicized than ever with this week's impending Presidential election. Whether Trump or Biden wins, more stimulus is coming. It is just a question of when the next stimulus package is passed. Once such occurs, the model will look to price/volume action in the major averages and leading stocks to confirm its next change in signal.

But in the meantime, adding to the opaque situation is the election outcome which may remain uncertain even after the election is over should Biden win and Trump demand an investigation. Should such occur, a sharp, short correction in the major averages would not come as a surprise. Even if Trump concedes defeat without a fight, Biden is bad for both the economy and stocks with his higher tax plans which could weigh on the major averages, though a firm conclusion to the election could spur a rally as markets hate uncertainty. 
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. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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