FLS Update: Yellen, Schmellen – Stocks Continue To Rally… 06/21/2016

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Market Update:
The title of last Thursday’s update was, “Time For An Oversold Bounce.” So far, the market continues to edge higher as we head into the end of month and end of quarter. The market rallied this morning when Yellen started talking then it drifted a bit lower before Mr. Draghi, her European counter part, decided to open his mouth and did his part to juice markets. Yellen is speaking again tomorrow and then the much anticipated Brexit vote will be on Thursday. We think they will vote to stay in (which could be bullish for stocks) but know anything can happen.  Stepping back, most stocks are still not working and the environment remains sloppy at best. We will look to add risk when new/favorable entry points emerge.
 
FLS Portfolio:
There are no open 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.

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