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VoSI Focus List Review for the Week Ended March 4, 2022

Stocks remain volatile as news out of Ukraine combined with Fed Chairman Jay Powell's press event on Wednesday where he stated he would not vote for a 50 basis-point rate increase when the Fed meets the week after next, keeps investors on their toes. Amid all the volatility, however, we can see that the S&P 500 Index is pulling back in a short range as it tries to stabilize and consolidate the Ukrainian Invasion lows of two Thursdays ago. Our general view is that the market is in an overall downtrend currently and we consider the potential for lower lows to remain in force.
SunPower (SPWER) was reported on as a short-sale entry candidate at its 50-day moving average on Tuesday, March 1st. In fact, the stock was shortable at the 50-day moving average for the past four days in a row as it ran up into the line and then backed down. It finally closed below the 20-dema on Friday, which sets up a potential secondary short-sale entry using the 20-dema as a covering guide.
On Sunday we reported on Snap (SNAP) as a short-sale target at its own 50-day moving average. On Monday the stock closed just above the line but then on Tuesday broke below the 50-day, triggering a short-sale entry at that point. It also presented secondary short-sale entries at the 20-dema on Tuesday by the close and again on Wednesday and Thursday before posting lower lows on Friday. Any rallies back up into the 10-dma/20-dema would offer potential short-sale entries from current levels, although the optimal  entries occurred earlier in the week right after we reported on SNAP.
We will continue to report on short-sale set-ups as we see them in real-time and in areas that we feel offer the best chances for success in what is still a very volatile and difficult market whether one is trying to swing-trade or even day-trade it, long or short.

The Market Direction Model (MDM) remains on a SELL signal.


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.
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