[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
The major averages bounced nicely today as the bulls continue to step in and buy any and all weakness. As long as this continues, the market deserves the bullish benefit of the doubt. Especially because the S&P 500 is less than 2% below its record high! To be clear, the action underneath surface, remains “poor” at best which typically means the market will fall, not rally from here. But the one major wild card remains the easy money from global central banks and that is such a powerful force that the market (FOR NOW) refuses to pullback. We want to see how the market reacts to the jobs report tomorrow and will have a full report for you this weekend. It will be bullish to see the market rally from here and close near its highs (or possibly) higher for the week. Stepping back the intermediate and long term trend remains higher while the short term trend remains sideways to higher.
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
The FLS portfolio continues to navigate this difficult tape rather well. The portfolio
was stopped out of HACK and SPY earlier this week as the market sold off. Thankfully, we tightened our stops over the weekend so we were stopped out for breakeven.
As of this writing (3:14pm EST),
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The service owns: TSLA +15.24% GDX -2.39%, AAPL -3.32%, NFLX -2.14%
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The service will exit: TSLA @ 204.69, GDX @ 19.24, AAPL @ 121.62, NFLX 551.97
[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 | SWKS | 99.57 | 94.57 | -5.02% |
[/su_table]
