FLS Pre-Market Update: Pullback Time

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. 

FLS Portfolio:

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:

Positions:

The service owns:  ADBE +140.06%, ISRG +76.36%, QQQ +12.83%, SQ +82.14%, AAPL +20.62%, GOOGL -2.61% 

 

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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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