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Market Lab Report - Premarket Pulse 5/4/16

Major averages fell on higher volume adding yet another distribution day onto the already high count. Global growth concerns continue to weigh thus central banks are likely to continue to print while the Fed pushes any rate hikes further into the future. The Bank of Japan's decision not to increase QE does not mean they cant increase it at a later date, though the issues that their negative rate environment can create may prevent their ability to push rates any lower.

The April ADP Employment came in well below expectations at 156K vs an estimated 196K. Economists used ADP’s data to get a feeling for the Labor Department’s employment report, which will be released on Friday. In other economic news, US productivity fell 1% in the first quarter, and US imports hit their lower level since early 2011.

Futures are lower by more than half a percent at the time of this writing. The Market Direction Model is currently on a sell signal as of yesterday. 

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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