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.
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
Your email will always remain private.

Market Lab Report - Premarket Pulse 3/26/17

Stocks finished Friday mixed on mixed volume, but the S&P 500 and the NASDAQ Composite Index both found resistance at or near their 10-week moving averages. The NASDAQ, in particular, showed a big churning and stalling day on higher volume. When viewed in context with Tuesday’s high-volume break off the peak, this action is bearish from an index point-of-view.

Friday’s weakness was instigated by news that President Trump had pulled the healthcare bill when it was clear that the legislation did not have enough support from House Republicans to pass. Initially this was seen as a positive as the indexes rallied back towards the upside after the Dow dropped over 100 points in short order.

But the volatile churning action continued into the close with the S&P and the Dow both closing in the red, while the NASDAQ gave up a good chunk of its intraday gains but managed to hold up on the day. Nevertheless, the action is not necessarily constructive given the high-volume churning action.

The American Health Care Act, which was pulled on Friday afternoon, would have repealed nearly $1 trillion in taxes enacted under Obamacare. Republicans planned to incorporate the savings into tax reform legislation to enable a larger tax cut than would have otherwise been possible. Concerns are mounting that Trump's tax reform proposals may be less likely to pass.

Futures are down sharply this morning, and investors should seek to play a strong defense by heeding their trailing and absolute stops. In addition, we would re-emphasize the importance of not chasing strength in this market, and instead looking to buy into constructive weakness down to logical areas of support. This can help keep risk to a minimum when the market begins to waver as it is this morning.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy