Market Update:
Tuesday morning, Draghi juiced markets when he said central banks need “more coordination.” That basically gave investors (and central banks) the ‘All Clear’ to buy stocks and ramp the market into the end of month/end of quarter.
The action we have seen over the past few days is not “normal” by any measure and intermediate and long term, the market is still range-bound. Leadership is anemic and volume patterns on the major indices are not healthy (market fell on heavy volume and bounced back on light volume). A few down days from here would not bode well for the market.
Near term the market went from oversold to a little over bought as the major indices are now flirting with resistance near their respective 50 DMA lines. For the quarter, the Dow, S&P 500, and Russell are “up” marginally while the Nasdaq and Nasdaq 100 are slightly in the red. Gold and silver remain the standout winners for the quarter and continue to act well. We want to see where the market closes tomorrow and will have a full report for you this weekend.
FLS Portfolio
There are no positions and no 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 Sarhan Capital is strictly prohibited.
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.
