[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
In a bullish market it is “healthy” to see the major indices open lower and close higher on a daily, weekly, monthly, quarterly or annual time-frame. For the past few years we have highlighted this occurring on a weekly and monthly basis time and time again. As the market continues to move higher, the we tend to see it open lower in the first half of the week and close higher byFriday. It is only Tuesday, so anything could happen by Friday, but for now, the market turned positive on a weekly basis (weekly chart) and that could set the stage for higher prices, especially if the market rallies after tomorrow’s Fed meeting.
Fed’s Dual Mandate:
We don’t think the Fed is in a rush to raise until the “data” improves. Remember, the Fed has a dual mandate: help the economy and keep inflation at 2%. Right now, the economy is barely growing (with rates at zero) and deflation remains more of a threat than inflation. So why would the Fed be in a rush to raise rates? The Fed has told us that they remain “data-dependent” and so far the data remains lackluster at best. In addition, the Greek drama remains unresolved and if that domino falls, the Fed will be forced to reverse a rate hike. If we had to opine, we would say they do nothing tomorrow but maybe a slight change to their rhetoric and continue to “hedge” themselves and say they remain “data-dependent.”
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio continues acting well as the market goes nowhere fast. Here is a snapshot as of 3:17 pm EST:
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
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The service owns: TSLA +23.37%, NFLX +16.02%, XLF +0.74%, HACK +8.04%, DPZ -0.67%
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The service will exit: TSLA @ 234.87, NFLX @ 576.13, XLF @24.03, HACK @ 28.69, DPZ @ 105.14
[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 | AMZN | 439 | 414.55 | -5.57% |
| Working | BUY | MTH | 46.05 | 43.13 | -6.34% |
[/su_table]
