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Market Lab Report - Premarket Pulse 7/23/18

President Donald Trump continues to come out swinging now saying the European Union is a “foe” of the United States with respect to trade policies. He also said Brexit may “kill” any potential trade deal between the U.S. and the U.K. Over to the E.U., Trump tweeted about the E.U. slapping a five billion dollar fine on Google. He sees this as them taking advantage of the U.S. and suggests he will be taking action.  

Nevertheless, all FAANG stocks except NFLX have been showing accumulation as they trade at or near new highs from FB, to AMZN, to AAPL, to GOOGL. So despite Chinese names that formerly led such as BABA, YY, and MOMO that continue to struggle, leading U.S. names such as SQ and FTNT continue to trend higher. Meanwhile, former leading names such as NVDA which has been stuck in a sloppy basing pattern all year as can be seen on its weekly chart have been trading in a tighter, more constructive manner around its 50dma. 


But as we have said, the QE-motivated market has been pushing higher on a string in terms of price/volume action on the major indices, so caution as always is advised. 

Trump's aggressive stance on trade policies is the major headwind for the markets at this time, but is being countered by quantitative easing. Wyckoff undercut & rally and volume dry-up (voodoo) formations continue to prove worthy and provide low risk entry points, thus reducing risk while maintaining reward that is typically at least 3-4 times the potential loss.

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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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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