Market Lab Report - Premarket Pulse 9/24/15
|24 Sep 2015 13:13 ET
Major averages finished roughly flat yesterday on significantly lower, below average volume, due in part to the Yom Kippur Jewish holiday. The action essentially consolidated Tuesday's higher-volume gap-down, setting up this morning's gap-down in the futures. The market's sloppy ascent from its lows in late August coupled with a good number of distribution days suggests a retest of lows may be in the cards. Indeed, futures are down nearly 1% at the time of this writing. Markets eagerly await Federal Reserve Chairperson Yellon's speech this evening at 5pm EST. CME FedWatch puts the odds of a rate hike in October at 11% and in December at 35%. As always, keep stops tight and take profits when you have them in context with the stock's chart.
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.