[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
The title of Tuesday’s update was, “A Little Negative Divergence Forming.” That is exactly what happened…The major averages fell yesterday after optimism around a potential Greek deal dissolved. Technically, the market remains very split as teh Transports ($IYT) and Utilities ($XLU) broke support this week and continue to weigh on the market. The Transports are down nearly 12% from their recent high and the $XLU are down -16% and that is something almost no one is talking about. Furthermore, the negative divergence we highlighted earlier (the Nasdaq and Russell 2000 indices broke out but the Dow Industrials & S&P 500 did not). We’ll see where the market closes tomorrow and will have a full report for you this weekend.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio continues acting very well and here is a snapshot as of 3:35pm EST :
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
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The service owns: TSLA +31.50%, NFLX +15.09%, XLF -0.16%, HACK +7.78%, DPZ +0.29%, MTH+6.86%, AMZN +0.34%
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The service will exit: TSLA @ 234.87, NFLX @ 576.13, XLF @24.03, HACK @ 28.69, DPZ @ 105.14, MTH @ 43.13, AMZN @414.55
[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]
There are no new buy orders today.
We will look to buy the bounce after this dip (if it occurs).
