Market Update:
The market is quiet right now as it pauses (which is healthy) to digest its recent and robust post-brexit rally. Remember there are two ways a market can digest a move (either pullback or move sideways). The latter is the more bullish scenario and that is what’s happening right now. Additionally, we have a slew of earnings that are being released this week and more noise from global central banks (Most notably, the U.S. Fed ends its meeting tomorrow at 2pm – no press conference and the Bank of Japan meets later in the week.) . Until we see heavy selling, the bulls have earned the bullish benefit of the doubt.
FLS Portfolio:
Thankfully, the FLS portfolio continues acting very well and as of this writing (10:25am EST),
A. The service owns: QQQ +2..91%, SMH +7.81%, XLF -0.63%
B. The service will exit: QQQ @ 110.85, SMH @ 58.65, XLF @ 22.37
B. The service will exit: QQQ @ 110.85, SMH @ 58.65, XLF @ 22.37
Working Orders:
There are no new working orders today.
Disclaimer:
This analysis contains information from resources believed to be reliable but are not guaranteed as to accuracy or wholeness as of the date of this publication. Past performance is not necessarily indicative of future results. There is always a risk of loss in trading and investing. Opinions articulated are subject to change without notice. This analysis and any opinions expressed are intended for educational purposes only and should NOT BE interpreted as a call for engagement in any transaction involving the purchase or sale of any security or investment product or service. The risk of loss in investing and or trading can be substantial, and traders/investors should carefully consider the inherent risks of such an investment in light of their financial condition. The author, firm, associates, or the firm’s clients may have a position in any of the investments mentioned and their positions are subject to change without notice. Any reproduction or retransmission of any portion of this report without the express written consent of Sarhan Capital is strictly prohibited.
