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Market Lab Report - Premarket Pulse 9/9/16

Major averages finished lower yesterday on mixed volume, higher on the S&P 500. The NASDAQ's reversal constitutes a near-term failure of its recent breakout to new highs. We would keep a close eye on leading stocks. If these begin to fail, some on recent breakouts or down through critical areas of support, then further downside may be in store. Know where your out points are.

Futures are down as hawkish Fed President Eric Rosengren, a voting member, said the U.S. central bank could resume gradual rate hikes as the risks facing the economy are more in balance.

Other Fed officials are due to speak today:

Dovish Fed Gov. Daniel Tarullo will be interviewed on CNBC at 10am ET.

Fed President Rob Kaplan, a non-voting member this year, will appear twice today, once at 930am ET and against at 815pm ET.

Fed officials met on Sept. 20-21 to set interest rate policy. Any rate hike, if and when it happens, would seem to be a one-time hike since any meaningful series of rate hikes could reverse all the QE-manipulated gains in the stock market since 2009. The interest rate payments on the debt alone could be staggering.

CME Fed futures puts the odds of a rate hike at 26% when the Fed meets in September and at 51% when they meet in November. as been obtained from sources which we believe to be reliable, however, these sources cannot be guaranteed as to their accuracy or completeness. The information and content expressed herein are subject to change without notice and MoKa Investors, LLC and/or its employees may from time to time have long or short positions or may acquire direct or indirect beneficial interest in securities mentioned.

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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