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Market Lab Report - Premarket Pulse 5/5/15

Major averages rose yesterday on lower volume, closing in the lower half of their respective trading ranges. The bounce so far has been on lower volume. Leading stocks are trying to find their floors but bounces have been anemic overall. While this normally would indicate lower lows ahead, the QE-laden environment spurred on by the perpetually sluggish global economy can push major averages higher in baby-step fashion into new highs as we have seen a number of times before.

So while we have major averages that are narrowing their respective trading ranges which implies a potential break out to new highs, we also have a market that is struggling to find direction amidst the recessionary overhang despite all the QE being pumped into the system. With the Fed now focused on "data dependence," the market is now likely to key on each new economic data release, with any movement centered around the strength or weakness of such data. Thus the Fed, by removing any reference to a target date for a future interest rate increase, has served to increase uncertainty, and markets, as we know, generally do not like uncertainty. As always, we remain fluid as markets can change on a dime. Keep stops tight and take profits when you have them. A 3:1 ratio of gains:losses adds up nicely over a number of months.

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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