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Market Lab Report - Premarket Pulse 1/12/16

Major averages finished mixed yesterday on mixed but above average volume. China's Shanghai Composite Index finished flat overnight as it was still unable to manage a bounce. It's sharp downtrend remains intact so any bounce that materializes may be a shorting opportunity. The same holds true for other markets including the US markets.

A major top in the US markets has formed but the question is when a more substantial bear market may take shape with averages currently off around 10% for the NASDAQ Composite, S&P 500 and DJIA. The Russell 2000 is off nearly 20%. Of course, should the Federal Reserve step in with a new form of QE, a la QE4, that could also push markets artificially higher once again. But so far, the Fed's dot plot is for 4 rate hikes this year, so the correction could become a full-blown bear. This would clear the decks and thus be a healthy step towards a restoration of perhaps partial normality in the markets.

Futures are up around 1% at the time of this writing on no particular news as the market is due for a bounce. While conditions remain weak, such a bounce may be short-lived and provide shorting opportunities in individual stocks.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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