Major averages rose Friday on lower volume, with the NASDAQ just above its 200-day moving average and the S&P 500 just above its 50-day moving average. But neither average has shown signs of reviving their uptrends and many former leaders are trading well under their 50-day moving averages with a number at or under their 200-day moving averages. While central banks have been QE-friendly in terms of ongoing and future policies, the general markets show scant signs of upward momentum with the S&P 500 and DJIA moving sideways. These two averages as well as a number of European bourses are at or near new highs due primarily to the QE-effect which pumps money into the lower risk, ie, risk off stocks which in turn pushes these markets higher. Thus this is perhaps more a sign of an exhausted market being artificially pushed higher than signs of strength.
MLR - PMP 5/12/14
|Published:||12 May 2014 12:49 ET|
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
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.