[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
Today is a BIG support day for the market. Earlier today the market opened lower and took out last week’s low, causing the S&P 500 and the Dow Industrials to slice below their respective longer terms 200 DMA line. Within an hour, the bullish pixie dust emerged and the bulls showed up and defended the 200 DMA line and helped stocks turn positive for the day. The Nasdaq and Russell are acting better on a relative basis and they found support near their longer term 150 DMA lines. We’ll see what happens by Friday but it will be very healthy to see the market rally from here and turn higher for the week (positively reversed for the week). Conversely, if today’s lows are breached, we have to expect a new leg lower to commence.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio continues acting well considering how the broader market has been acting. The service sold HACK earlier today for breakeven. Here is a snapshot as of 3:02pm EST:
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
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The service owns: TSLA +31.34%, NFLX +14.43%, XLF -1.33%, DPZ +1.72%, MTH +3.06% AMZN -0.46%
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The service will exit: TSLA @ 245.77, NFLX @ 611.67, XLF @24.03, DPZ @ 111.14, MTH @ 46.05, AMZN @414.55
[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]
[su_table]
| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk from Entry |
| Working | Buy | FEYE | 49.91 | 46.53 | -6.77% |
| Working | Buy | REGN | 521 | 503 | -3.45% |
[/su_table]
