Major averages rose on mixed volume, closing near the top of their trading ranges as they continue their uptrends. Of course, some digestion of recent gains would come as no surprise.
January producer prices increased 0.6% (est 0.3%) while core producer prices increased 0.4% (est 0.2%). European and US markets are nearly flat at the time of this writing.
Focus List Update
NVDA is forming a potential major top as it had a high volume, outside reversal day Friday then another down day on above average volume as it makes its way back to its 50-day moving average.
SQ also had a high volume, outside reversal day back to its 20-day line. SQ reports earnings on Feb 21.
QTNA had pocket pivot after having a volume dry-up period close to support.
FTNT continues to trade tight as it approaches its 10-day line.
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. ©2022 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.