Market Update:
The major indices are still in pull back mode which is perfectly normal at this point as they pause to digest the recent/strong rally and digest a slew of earnings, economic and central bank data. The good news is the major indices remain above the 50 DMA line which is a good for now. A few big breakouts have failed in recent days which is not ideal. I believe we are in a big transition which I call the big hand-off from monetary policy to fiscal policy. The Fed came out yesterday and didn’t do anything. Going forward, monetary policy will likely take a back seat as investors focus on fiscal (pro-growth) policies from Trump. Tomorrow is the always fun jobs report. As always, we want to see where the market closes tomorrow and will have a full report for you this weekend.
FLS Portfolio:
Thankfully, the FLS portfolio is acting well.
Here is a snapshot of the portfolio as of this writing, as of Wed’s close:
- The service owns:ICE +1.37%, ADBE +2.04%,
BABA +3.75%, NVDA +6.59%, HACK -0.32%
- The service will exit: ICE @55.7, ADBE @ 111.09,
BABA @ 97.9, NVDA @ 101.52, HACK 27.27
Working Orders:
We want to let this pullback run its course then look to buy the bounce after the dip. Right now, there are no new working orders.
Disclaimer:
This analysis contains information from resources believed to be reliable but are not guaranteed as to accuracy or wholeness as of the date of this publication. Past performance is not necessarily indicative of future results. There is always a risk of loss in trading and investing. Opinions articulated are subject to change without notice. This analysis and any opinions expressed are intended for educational purposes only and should NOT BE interpreted as a call for engagement in any transaction involving the purchase or sale of any security or investment product or service. The risk of loss in investing and or trading can be substantial, and traders/investors should carefully consider the inherent risks of such an investment in light of their financial condition. The author, firm, associates, or the firm’s clients may have a position in any of the investments mentioned and their positions are subject to change without notice. Any reproduction or retransmission of any portion of this report without the express written consent of Sarhan Capital is strictly prohibited.
