[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
he major indices continue acting well and have turned positive for the week (healthy sign). The market opened lower on Monday but the bulls immediately showed up and quelled the bearish pressure and sent stocks higher right after the open. Overnight China’s stock market plunged 6% (equals over 1,000 Dow points) and our markets barely budged. When a market doesn’t fall on “bearish” news that typically is a bullish sign. Factoring out all the negative “headlines” we feel that, as long as support holds, the market wants to move higher from here. The S&P 500 closed below a downward trendline (attached) and if it breaks and closes above their by Fri- that will be another bullish “data point.” As always, if the market rolls over from here- we will be very well prepared but until then the S&P 500 is only 1.7% below its ALL-TIME high and that should be respected.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio is performing very well considering how the major indices have been acting in recent weeks. Here is a snapshot as of Tuesday’s close…
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
-
The service owns: AMZN +21.87%, XLF +1.65%, REGN +9.34%, UA +15.24%
-
The service will exit: AMZN @482, XLF @24.03, REGN @ 521, UA @ 92.77
[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 |
| Open | Buy | V | 75.18 | 72.27 | -3.87% |
| Open | Buy | PANW | 180.54 | 168.02 | -6.93% |
| Open | Buy | QQQ | 113.1 | 109.87 | -2.86% |
[/su_table]
