The model has switched to CASH.
With the increase in selling pressure, a move to safety of the sidelines after the hefty gains made on the last signal is prudent. Arguments can be made that global QE is favorable and the Fed is primed to launch QE4. But until that is an actuality, there is no QE support in the US at present. It can also be said that lower oil prices are good for the global economy, but that plummeting oil prices are temporarily spooking investors, thus the uptrend should resume. Nevertheless, price/volume action is key as always so MDM will move to the sidelines for now. Should the markets find quick footing, MDM could move back to buy.
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.