Support gets DEFENDED leaving stocks Flat for the Week | Week in Review 05/04/2018

It was another volatile week on Wall Street as investors digested a slew of economic and earnings data. Apple was the big standout winner last week as the stock shot up to new highs after reporting earnings and legendary investor Warren Buffet announced he was increasing his position in the stock. In other news, the…

FLS Pre-Market Update: Support Must Hold… 05/03/2018

FLS Pre-Market Update: Support Must Hold… 05/03/2018

Market Update: Testing Support In Tuesday’s pre-market update, I said the market action was not impressive. Now, the major indices are getting close to near term support (their 200 DMA lines). If that level holds, the market could bounce back up to the 50 DMA line (near term resistance). On the other hand, if that level…

FLS Pre-Market Update: Earnings, The Fed, and Jobs This Week… 05/01/2018

FLS Pre-Market Update: Earnings, The Fed, and Jobs This Week… 05/01/2018

​ ​Market Update: Earnings, Fed, & Jobs Yesterday’s action was not impressive. The major indices all turned lower after hitting their 50 DMA line (which has been highlighted for you in recent weeks as near term resistance). Under neath the surface I’m seeing some disconcerting action as the all-important semiconductor group (ticker: $SMH) closed below its…