X
X
Tired?
Unfocused?
Off your game?

Read our free Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
YES, SEND ME THE REPORT !
NO, I'M NOT INTERESTED
Your email will always remain private.

Market Lab Report - Pre-Market Pulse for Wednesday, February 28, 2018

Major market averages suffered a distribution day yesterday as all of the major indexes sold off more than 1% on higher volume. Such a sell-off is not entirely unexpected given the prior steep v-shaped move off the lows. The sell-off was attributed to Congressional testimony from incoming Fed Chair Jerome Powell indicating that the current trajectory of interest rate increases was likely to remain intact. He suggested the economy was strong enough to withstand the rate hikes, lending to speculation that a fourth rate hike could be possible.

Futures are up about half a percent as markets attempt to bounce after yesterday's higher volume selloff. Markets reacted well to the second estimate of fourth quarter GDP which came in at 2.5% vs. est +2.5%. The first estimate came in at +2.6% last month.

Focus List Notes:
All three Focus List names sold off slightly, more or less matching the -1.23% decline seen in the NASDAQ Composite Index. We do not consider any of these names, AMZM, NFLX, and NVDA to be in optimal buy positions currently.
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
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.
FOR OUR FREE MARKET LAB REPORT :
Copyright ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy