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 8/24/17

Major averages fell on lower volume as market direction remains in flux. QE could push the market higher or the sloppy downtrend that began earlier this month could continue.

The annual Jackson Hole meeting begins today among top central bankers then ends tomorrow with speeches from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi. The market will watch the speeches closely, but the minutes have already been released so any new information is less likely.

The Federal Reserve is well along the path to rate normalization having hiked a few times. It is widely expected to lay out its plan to begin shrinking its $4.5 trillion balance sheet that it said it would discuss at their policy meeting in September. Meanwhile, the ECB is still purchasing assets at a record level of 60 billion euros a month and holding interest rates at extraordinarily low levels. The question is whether Draghi will lay out a plan to begin winding those purchases down in 2018.

“I think people will most look forward to, but also be most disappointed by, the Draghi speech,” Bill Northey, chief investment officer at U.S. Bank Private Client Group said. “At most he will make some additions to what is already known, but it will be devoid of any real new policy information.”

Focus List Notes:

Five names remain on the list, with BABA and TTWO still pushing higher as they ignored the market's gyrations over the past two weeks.

ANET is sitting at its 10-dma with volume drying up, putting it in a lower-risk entry position using the 10-dma as a tight selling guide.

APPN posted a pocket pivot off the 10-dma yesterday, although we had previously discussed the stock as buyable along the 10-dma in previous notes.

NFLX continues to hold key support at the 50-dma, although it has shown little willingness to bounce off the 50-dma with more authority. This does, however, keep it in a lower-risk entry position using the 50-dma as a tight selling guide. A breach of the 50-dma, however, would likely bring the stock into play as a short-sale target.

Short-Sale Notes:

TSLA rallied just beyond its 50-dma yesterday on news that a Model 3 SUV beat a Lamborghini in a drag race. This brings the stock back up into shortable range once again, looking for a reversal back below the 50-dma as a short-sale trigger.

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