Market Update: Central Banks Still In Focus
I’ve been saying for the past week or two that the market was extended to the upside and due to pullback. Instead of pulling back it just moved sideways to consolidate the recent move. That is the more bullish scenario- remember there are two ways a market can consolidate a move- 1. pullback 2. move sideways. The market tried pulling back after the Fed meeting yesterday but futures are slightly higher this morning after the ECB meeting. Here’s the bottom line: The market, economy and earnings are all strong. For now, a few pullbacks aside, that paves the way for higher prices on Wall Street. The market continues acting well and I would like it to pullback a bit to digest the recent move. But I will take what I get. As always, let’s see where the market closes tomorrow and I will have a full report for you this weekend.
FLS Portfolio:
The FLS portfolio continues acting very well. Here is a snapshot as of Wednesday’s close:
Positions:
- The service owns:
ADBE +130.56%, ISRG +55.57%, SFLY +5.63%,
QQQ +6.75%, NFLX +18.33%, SQ +24.75%, ANET +6.86%, EL +2.51%
- The service will exit:
ADBE @ 201.56, ISRG @ 379.77, SFLY @ 90.87,
QQQ @164.71, NFLX @ 321.09, SQ @ 50.10, ANET @ 247.77, EL @145.46
Working Order
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 50 Park Investments is strictly prohibited.
