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MLR - Premarket Pulse May 2, 2013

The markets reacted negatively to yesterday's Fed policy announcement wherein they once again indicated that they remain ready to increase or decrease their QE bond purchases as necessary until employment improves materially or inflation begins to increase beyond their target window. Volume came in lighter by the close, so the indexes escaped distribution days despite being down nearly 1% across the board.

Progress in individual stocks remains difficult as the few actionable buy points that do occur generally fail to materialize into more substantial gains, leaving the underlying action in a mostly trendless or choppy state of affairs. Thus we find this to be a time where investors should be alert and cautious as the indexes form what is looking like a broadening top with higher highs and lower lows. This is a rare type of formation, hence its statistical reliability as a topping indicator is not readily determined given an arguably tiny sample size, but the volatile action of the indexes does make for a more challenging environment that calls for a less aggressive stance.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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