• Market Insight

FindLeadingStocks Pre-Market Update: Strength Begets Strength

Facebook
Twitter
LinkedIn

Market Update: Strength Begets Strength

The major indices rallied hard yesterday after a “dovish” central bank meeting in Jackson Hole and after the US and Mexico reached a deal to change NAFTA (details below). Interestingly, Canada was left out of the conversation but the market looked part of the equation. 

I receive a lot of questions from people asking “why”? They want to know why can the market keep moving higher. The simple answer is that this is textbook bull market action. In a bull market, the market takes on a life of its own and rallies in the face of just about every headline- good or bad. The opposite is true in a bear market. That’s why, I’ve learned to focus a lot more on psychology (mine and the markets) than the headlines. In the short term, the market is getting a bit extended now and due to pullback. The next level of support to watch is the 50 DMA line. Eventually, this bull market will end but until it does, I don’t want to fight this very strong tape.  

FLS Portfolio:

The FLS portfolio bought GOOGL and continues acting well. Here is a snapshot of the portfolio as of Monday’s close:

Positions:

  1. The service owns:  ADBE +136.20%, ISRG +72.93%, QQQ +11.92%, SQ +56.19%, AAPL +15.12%, GOOGL +1.00% 
  2. The service will exit:  ONLY AVAILABLE TO MEMBERS- Join Here

 

 

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 50 Park Investments is strictly prohibited.
 
CONFIDENTIALITY NOTICE
This electronic message is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and/or exempt from disclosure under applicable laws. If the reader of this message and/or its accompanying attachment(s) is not the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited. If you receive this communication in error, please notify us by your e-mail reply feature, delete the original message and all copies thereof from your system, and destroy all hardcopies of the message and its accompanying attachment(s).

 

Facebook
Twitter
LinkedIn

Here are more articles you may like
Picture of Adam Sarhan

Adam Sarhan

Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.

Claim Your Free Guide Today

Give us your email and we will give you the tools to change your life. 

FREE 7 DAY EMAIL COURSE

Learn about Early Entry Points & much more...

© ChartYourTrade | Contact us: website@chartyourtrade.com

Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.

Charts and Data are courtesy of MarketSmith Incorporated. Join MarketSmith here.

Terms of Service