Major averages rose mildly on higher volume. Friday brought the monthly jobs report which came in well above estimates in both jobs added and in wage growth which was a bullish sign for the labor market. Nevertheless, institutions seemed reluctant to push major averages appreciably higher. Perhaps they are more concerned about any new quantitative easing being delayed thus markets remain tentative. There was also another Hindenburg Omen signal Friday, making it four signals in the last five days. That said, this Omen has a spotty track record especially in this QE environnment.
TSLA continues to break down. We discussed it in detail as a possible short in our webinars in late November. Other stocks such as TWTR and NFLX also falling further.
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.
