• Market Insight

FLS Update: End of Month/End of Qtr Window Dressing… 09/27/2016

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Market Update:
The market fell on Monday, erasing most of the Post Fed Rally, then the bulls showed up and sent stocks higher (as of this writing) on Tuesday. If the bulls continue to send stocks higher, then you can easily see a strong weekly chart (open lower and close higher). If the market can breakout and go topside we look forward to adding exposure in the near future.
 
Stepping back, the action is not the best as the Dow & S&P 500 are still below their respective 50 DMA lines and the tape remains very split. Last week, we wrote about the upward bias we tend to see at the end of the month and the end of the quarter. Keep that in mind over the next few days. Separately, Janet Yellen and 5 other Fed heads are set to speak tomorrow which could easily change the playing field. We don’t like the fact that markets are so dependent on the Fed and other central banks but that is the world we live in and we have to deal with that reality. Finally, if the market rolls over from here, the first important level of support we are watching will be September’s lows for the major indices.
 
 
FLS Portfolio:
The FLS portfolio continues acting well. As of this writing (3:02pm EST),

A. The service owns: SMH +14.88%, MELI +4.20% 
B. The service will exit: SMH @ 62.96,  MELI @ 180.05
 
 
Working Orders:
There are no new 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 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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