Market Update:
Not much has changed since our Tuesday update. The market continues to be lead higher by the beaten down areas of the market that have lagged for the past 18-24 months. In the short term, the market is over bought and due to pullback a bit to digest its recent and robust rally off the Feb 11th low. Over the past 3.5 weeks, the S&P 500 has vaulted nearly 10% and that is a very strong move for a three week period. The weekly ranges have been wide making it difficult to hold on to positions during that time. Remember, these types of exaggerated moves, up and down, typically do not occur during bull markets. We are open to anything but bear market rallies primary job is to make you “feel” good and think the worst is over. The main variable remains global central banks. They have and will likely continue to distort the playing field. We want to see how stocks react to the jobs report and, more importantly, where they close tomorrow. As always, we will have a full report for you this weekend.
FLS Portfolio
Thankfully, the service bought perfectly and is now sitting on a nice gain. To protect our position, the service raised and shall keep our protective stop at 102.37.
A. The service owns: QQQ +5.67%
B. The service will exit: QQQ @ 102.37
B. The service will exit: QQQ @ 102.37
Working Orders:
There are no new working orders today
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 Sarhan Capital is strictly prohibited.
