Off your game?

Read our free Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
Your email will always remain private.

MLR - PMP 6/12/13

Major markets fell on higher volume as Asian markets dragged US and European markets lower after the Bank of Japan decided to not extend the duration on its ultra-low-interest rates to banks. The dollar fell sharply against the yen. The markets initially recovered from their opening gap-down and turned back into the black early in the day in a bullish move, but by the close reversed sharply to close near their intra-day lows, a conversely very bearish move. This was very volatile action and may be more common as the indexes engage in a QE tug-of-war. The NASDAQ Composite distribution day count now stands at 5 distribution days. Odds are increasing that the current pullback may worsen. That said, quantitative easing is a tough one for bears to contend with as it has provided a floor for the general market in past corrections, especially in 2013, where corrections have been limited to less than 5%. Futures are up this morning but another downside reversal could be telling with respect to the potential for this market to make lower lows.

The Market Direction Model remains in cash until some discernible strength or weakness becomes clear.

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. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
Copyright ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy