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Market Lab Report - Premarket Pulse 2/5/16

Major averages moved fractionally higher yesterday on mixed volume with the S&P 500 logging a third accumulation day since its weak follow through day on Jan 26. Leadership, however, remains scant. The market continues its struggle in finding direction. 

On weekly charts, both the NASDAQ Composite and the S&P 500 Indexes are forming what appear to be three-week bear flags after rolling over in January. This may portend further downside to come.

That said, while MDM remains on a solid sell signal as further evidence accrues of the downtrend being intact, VVM (VIX Volatility Model) may switch to a sell signal (market moving higher) if it senses a brief window of opportunity on the upside. VVM is more sensitive to subtle, short--term changes in market direction than is MDM, and since VVM deals with volatility-based ETFs, sharp intraday moves can occur. 

Today's BLS labor report came in mixed, with average wages higher, unemployment at the lowest rate in 8 years down to 4.9%, but the economy only added 151,000 non-farm jobs below the 180,000 expected.

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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