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 6/5/13

Yesterday's action featured another downside reversal, albeit on lighter volume. However, the underlying action remains negative as a number of leading stocks were hit hard yesterday, continuing the trend that we've seen over the past few days. While the NASDAQ Composite and S&P 500 Indexes were able to hold near-term support levels, futures are down this morning and the market is once again in danger of making lower lows. So far the indexes have pulled down 2-3% from their recent price highs as they chop around in a volatile two-week range. Lower lows followed by lower highs, however, could imply an impending change of trend. Whether this accelerates to the downside or finds a quantitative easing floor of support remains to be seen. For now the Market Direction Model remains on a neutral signal and on this basis we believe continued caution is warranted.

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.
Copyright ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy