Market Update:
Markets are quiet as the world waits for the Fed meeting to end and the press conference on Wed. Most likely, the Fed will not raise rates tomorrow but, if we had to guess, we would suggest they will adapt a somewhat hawkish stance and say that financial conditions have improved since their last meeting (S&P 500 has soared 11.5% in 4 weeks, crude oil soared 50% just to name a few). All that aside, the market remains very over bought up here and the next level of resistance to watch is the 200 DMA line for the S&P 500 (~2019).
FLS Portfolio
We raised our protective stop and are comfortable with our exposure. As of this writing, 3:15pm EST,
A. The service owns: QQQ +7.09%
B. The service will exit: QQQ @ 103.21
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.
