General markets were mixed on mixed volume as the S&P 500 snapped its 8-day win streak by closing down -0.18% on the day. The Russell 2000, which has been the leading index in the New Year's rally, closed at an all-time high.
In economic news, orders for durable goods jumped 4.6% in December, well above analysts' expectations for a 1.6% increase. But pending home sales slumped 4.3% in December, well below views for a 0.3% drop. The National Association of Realtors noted that the decline was due to a drop in supply, not weakness in demand, thus was allegedly less bearish than the numbers would imply.
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. ©2022 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.