• Market Insight

FLS Update: Healthy Action Continues On Wall Street… 08/23/2016

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Market Update:
The action on Wall Street remains very strong as the market continues sitting tight after a very strong 10% post brexit rally. At this point, quiet is good and the market has earned the bullish benefit of the doubt. Underneath the surface, the action remains very healthy as there continues to be virtually no distribution (heavy selling).  Additionally, the strong sector rotation we have discussed in recent months remains alive and well. Yesterday it was the biotechs and financials and today it was the housing stocks. Yellen speaks on Friday and GDP will be announced before her speech. We suspect she has two speeches prepared, one if GDP is strong and one if it is weak.  
 
FLS Portfolio:
Thankfully, the FLS portfolio continues acting very well and  as of this writing (Tuesday’s close):
 
A. The service owns: QQQ +6.06%, SMH +12.75%, XLF +1.01%, GDX -6.02%,  BLK +0.74% 
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 
 
 
 
 
 
 
 
 

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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