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Market Lab Report - Premarket Pulse 7/31/18

Futures are attempting to bounce at the time of this writing. The NASDAQ Composite closed near its 50-day moving average, off the lows of the day, as it attempted to use its 50-dma as support. As the chart below suggests, the question is whether we will bounce again today or whether a deeper correction is in the offing.


The global QE effect along with Trump's policies which favor stocks suggests a continuation of what the US market has enjoyed overall since 2009. Nevertheless, one should never be lulled into a sense of complacency as the markets inevitably WILL succumb to the effects of mass QE together with the US Federal Reserve continuing to tighten. Add in the trade wars as well as the numerous unhealthy technical aspects of this ageing bull such as the number of individual stocks participating in market advances that continues to diminish as well as divergent leadership showing a large number of stocks simultaneously hitting 52-week highs and lows, and you have a recipe for a potentially deeper correction, even beyond what we have observed so far since QE began in earnest in 2009. Also keep in mind the US markets twice earlier this year had substantial corrections due to the issues of higher rates.

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. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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