Note: Due to the shortened holiday week, this will be the only intra-week update.
Market Update: Pullback Time
The title of last Thursday’s intra- week update was “Getting Extended.” We all should know by now how markets work: They rally, pause, pullback, then rinse, wash, repeat. On cue, the market is simply pulling back to digest the recent and strong rally we have seen over the past few weeks. The next important level of support to watch is the 50 DMA line for the major indices. Leading stocks continue acting very well.
The FLS portfolio is acting well. To protect our (large) gains, it is time to raise the stops in a few of the open positions (new stops are in bold below). Here is a snapshot of the portfolio as of Tuesday’s close:
The service owns: ADBE +140.06%, ISRG +76.36%, QQQ +12.83%, SQ +82.14%, AAPL +20.62%, GOOGL -2.61%
*The Service Will Exit & Working Orders