Market Update: Bullish Pattern Continues
The market remains very strong. The S&P 500 is about to breakout of its bullish 3-weeks tight pattern (on a weekly basis) which is a very strong pattern. Earnings remain front and center and so far the reaction is mostly positive. What I mean by reaction is how the stock (and the major indices and individual stocks) react to the news, not just the news itself. Big picture, stocks remain very strong, volatility remains exceptionally low, and there remains virtually no major selling to speak of. Until any of those three things change, weakness should be bought, not sold.
FLS Portfolio:
The FLS portfolio continues acting well. The service bought TSLA yesterday when it opened just above the buy stop. Here is a snapshot of the portfolio based on Monday’s close:
Portfolio Update:
The service owns: ADBE +33.62%, BABA +62.25%, CAT +7.03%, AAPL –0.32%, TSLA -0.60%
The service will exit: ADBE @ 131.17, BABA @ 137.52, CAT @107.18, AAPL @ 151.77, TSLA @ 342.74
Working Orders:
| Order | Symbol | Buy Stop | Sell Stop | % Change |
| Buy | NFLX | 185.07 | 174.07 | -5.94% |
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 50 Park Investments is strictly prohibited.
