• Market Insight

FLS Update: Bulls Remain In Control… 08/09/2016

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Market Update:
The market is very strong and the fact that it refuses to fall – even though it is “up in the trees” and very extended – illustrates how strong the bulls are right now.  I  continue to see a very strong great mini rotation occur beneath he surface as the big money continues to rotate from one sector to another.  For now, that is very bullish and the bulls are in clear control until we see any significant selling. I do want to note that the major indices are extended and way above their respective moving averages. Additionally, they have rallied sharply and gone virtually straight up since the brexit vote, 7 weeks ago. Careful getting too top heavy up here. Remember, in bull markets, present market included, weakness should be bought, not sold. 
 
FLS Portfolio:
Thankfully, the FLS portfolio continues acting very well and  as of this writing (10:37pm EST):
 
A. The service owns: QQQ +5.73%, SMH +10.32%, XLF +1.26% GDX -0.45%, BLK +0.36%
B. The service will exit: QQQ @ 110.85, SMH @ 58.65,  XLF @ 22.37, GDX @28.75, BLK  @ 352.79

Working Orders:
There are no new orders today. The market is extended. 
We will look to add risk in the near future when a favorable risk/reward entry point emerges. 
 
 
 
 
 

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 Sarhan Capital is strictly prohibited.

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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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