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Market Lab Report - A Crash by any other Name

The action in the NASDAQ Composite and NASDAQ 100 Indexes is off the charts in terms of its sudden, unexplainable character. Leading names across the board, from AAPL to BABA to FB, NFLX, NVDA, TTWO, and anything else you can think of are getting smashed. This is typical of how this market has from time to time "pulled the rug out" on investors, but today's selling strikes us as more ominous. It is also illustrative of why one must adhere to their selling guides. Most Focus List names have busted near-term support in the most bearish manner, with some trying to hold along their 50-dmas. The "explanation" for today's action is that this is a sector rotation out of tech and into financials. In our view, this is much worse, and we would hope that alert, rational investors have already taken steps to reduce their exposure by sticking to their selling guides. If the Dow turns red all hell could break loose, and ironically on a day following a very bullish day yesterday. This is the nature of the QE market.
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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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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