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Market Lab Report - Premarket Pulse 11/22/16

All major averages rose yesterday though on lower volume. The NASDAQ Composite, Russell 2000, S&P 500, and Dow Jones Industrials Indexes are now all at all-time highs. The NASDAQ-100 sits a breath away from new highs. 

The Fed publishes its meeting minutes tomorrow. The market has already priced in a rate hike. FedWatch CME futures place odds of a rate hike in December at 100%, up from 95.4%. Fed members have expressed nearly unanimous views on hiking rates most likely in December, then adopting a wait-and-see approach on any additional hikes.

We had a number of names exhibit constructive low volume pullbacks in yesterday's trade. They were added to our Focus List yesterday. Low volume pullbacks that occur in the right context can be quite profitable. In the meantime, with the uncertainty of the election and the Fed's next move no longer hanging over the market, we would expect that the market will continue to move higher through the shortened Thanksgiving holiday weekend.

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. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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