fb
X
X
Tired?
Unfocused?
Off your game?
Read our free, updated as of Mar 3, 2022, 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 !
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
YES, SEND ME THE FILE !
YES, SEND ME BOTH !
Your email will always remain private.

Market Lab Report - Premarket Pulse 10/21/15

Major averages fell yesterday on higher volume as the NASDAQ Composite met resistance at its 200dma. Futures are currently higher by about 0.5% which would give the NASDAQ Composite a second try at breaking above its 200-day moving average.

Expect more backing and filling as the market digests its gains. The S&P 500 is about 4% off its highs and 1.48% from its 200dma, so while it could continue to trend higher as it approaches new highs, any uptrend beyond a broach into new high ground may be short-lived. This year, rallies into new high ground have fizzled out as the major markets have expressed deep reluctance to continue any meaningful move.

Indeed, if you look at a weekly chart of the S&P 500 since QE began in late 2008, you will see a slowing ascent, especially when comparing uptrends between 2013-2014 to uptrends in 2009-2012. And in 2015, this slowing ascent has slowed to, more or less, a flatlining, trendless market. That still makes the US the tallest standing midget as world markets have been in bearish downtrends since mid-2015.

Nevertheless, the weight of the slowing global economy as reflected by the bearish stock market charts in China, Europe, UK, and so on will most likely keep a lid on the US stock market achieving any meaningful uptrend beyond old highs. 

Profit opportunities in individual stocks should continue to present as they did so at various times this year.  

Short-sale target Tesla Motors (TSLA), which we reactivated as a short-sale in our Pre-Market Pulse report of October 1st. has continued to move lower as negative news begins to pile up for the stock. Our current downside target for the stock remains 180.

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.
FOR OUR FREE MARKET LAB REPORT :
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy