• Market Insight

FLS Pre-Market Update: Bullish Handle… 05/22/2018

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Market Update: Small Caps Continue Lead
The market action remains healthy as the bulls showed up and defended the 50 DMA line for the major indices. Yesterday’s move was welcomed but the fact the market closed in the middle of the daily range on so-called “bullish” news leads me to believe we might be “sitting” for a little bit before the market takes its next move higher. The S&P 500, Dow Industrials, Dow Transports, and Nasdaq/Nasdaq 100 are all forming a bullish little handle pattern right above their respective 50 DMA lines. Barring a large unforeseen sell-off, this is bullish action and it typically is just a matter of time until the market heads higher. In other news, the fact the small-caps continue to breakout and move higher is a positive divergence and bodes well for the market. Remember, this quiet sideways action is healthy for the market. 
 
FLS Portfolio:
The portfolio continues acting very well. Remember, I like to buy the bounce after the dip and that is exactly what have done in recent weeks. Thankfully, we handled the latest pullback with grace, we locked in profits in several of our stocks earlier in the year, managed to hold on to ADBE and ISRG during the entire pullback and then began adding risk again in recent weeks as the market rallied. For those of you who want to hedge: Ticker: HDGE is my favorite way to hedge your portfolio. Here is a snapshot of the FLS portfolio as of Monday’s close:

 

Positions:

A.    The service owns:  

ADBE +114.33%, ISRG +46.97%, SFLY +4.63%, 

QQQ +2.24%, NFLX +3.34%, SQ +12.55% 

B. The service will exit: 

ADBE @ 201.56, ISRG @ 379.77, SFLY @ 90.87,

QQQ @164.71, NFLX @ 321.09, SQ @ 50.10 

 



Working Orders:
There are no working orders today
 



 
 




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.

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Picture of Adam Sarhan

Adam Sarhan

Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.

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