Pre-Market Update: Bulls Defend Support

Stock Trading Hero Image

The following is a FindLeadingStocks (advanced reports) update sent before Thursday’s (8.16.18) open.  If you want to become a member, click here

Market Update: Support Is Defended

Wednesday was an important support day on Wall Street as all of the major indices successfully tested and bounced off of their respective 50 DMA lines. In Tuesday’s premarket update, I wrote, “…Stepping back, the major averages are still above their respective 50 DMA lines and that is the next big level of support to watch.” The key now is to watch and see if this bounce has legs, or, if sellers show up and send the market lower. After Wednesday’s bell CSCO gapped up after reporting earnings and before Thursday’s open WMT is on track to do the same. Those are two big stocks that are helping the market rally as we head into today’s open.   As always, I want to see where the market closes tomorrow and will have a full report for you this weekend. 

FLS Portfolio:

The FLS portfolio continues acting well. The service sold CRM for breakeven. If the market continues acting well there are a lot of strong stocks setting up (see below). Here is a snapshot of the portfolio as of Wednesday’s close:


The service owns:  

ADBE +125.51%, ISRG +65.81%, 
QQQ +8.82%, SQ +44.19%, AAPL +11.05% 

 The service will exit: 

ADBE @ 207.12, ISRG @ 449.54,

QQQ @168.87, SQ @ 59.37, AAPL @189.32

Working Orders
There are no new working orders today


This was sent to our Active Trader members (if you want to join the active traders service, send an email to: on Tuesday (8.14.18) at 11:51am EST:

8/14/18 @11:51am EST

Dear All:

If support is defended and the market goes higher from here (very likely outcome), here is a list of leading stocks that are setting up nicely to breakout (trading near their respective 50 DMA lines). 

Leading Stocks Near 50 DMA Line

  1. VKTX
  2. P
  3. NOW
  4. NTNX
  5. GDDY
  6. OAS
  7. PANW
  8. KEYS
  9. DOCU
  10. MA
  11. INTU
  12. ADSK
  13. DKS
  14. DISCA
  15. FLT
  16. OLLI

IPOs Trading at/just below 52-week high

  1. MESA
  2. ZS
  3. BOX
  4. SAIL
  5. COLD
  6. ROKU


Thursday Morning Reading – Here’s What Caught My Attention This Morning





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 50 Park Investments is strictly prohibited.


This electronic message is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and/or exempt from disclosure under applicable laws. If the reader of this message and/or its accompanying attachment(s) is not the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited. If you receive this communication in error, please notify us by your e-mail reply feature, delete the original message and all copies thereof from your system, and destroy all hardcopies of the message and its accompanying attachment(s).


Here are more articles you may like

Claim Your Free Guide Today

Give us your email and we will give you the tools to change your life. 


Learn about Early Entry Points & much more...

© ChartYourTrade | Contact us:

Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.

Charts and Data are courtesy of MarketSmith Incorporated. Join MarketSmith here.

Terms of Service