• Market Insight

FLS Pre-Market Update: Stocks Rally As Earnings Season Begins… 04/17/2018

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Market Update: Watch The 50 DMA Line
Stocks continued to rally nicely as earnings season kicked off with a bang. After the bell, Netflix smashed numbers (again) and is up nicely in the pre-market. Additionally, Goldman Sachs, JNJ, IBM and BAC were a few other well-known companies that reported numbers in the last 24 hours. For me, the key level to watch today is the 50 DMA line. Once again, the major indices are flirting with that level which has served as near term resistance in recent weeks. A definitive break, and close, above that level this week would be a bullish sign. So far, the market continues to shrug off all the negative headlines which is exactly how a bull market is supposed to act. 
 
FLS Portfolio:
As we make our way through earnings season we will look to do more buying. In the short-term, we want to see the major indices break -and hold – above their respective 50 DMA lines and that will give us further confirmation the market will move higher from here. Here is a snapshot of the FLS portfolio as of Monday’s close:
 
 

Positions:

 

A. The service owns: 
ADBE +103.91%, ISRG +32.70%, 
MELI +17.57% 

B. The service will exit: 
ADBE @ 201.56, ISRG @ 379.77, 
MELI @ 319.77





Working Orders:
There are no new 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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