Thursday Update: Bulls Still In Control… 06/10/2016

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Market Update:
The market remains very strong as the bulls showed up today, defended support, and once again sent stocks higher in the afternoon (a bullish sign). The S&P 500 remains very strong and the big area we have writing about was 2111, that area was defended today so effectively, resistance became support which is bullish. More important support resides near the 50 DMA line (2075). Under the surface we continue to see very strong (and healthy) sector rotation occurring on a daily basis which continues to help the market rally. Until we see any major significant selling, the bulls remain in clear control of this market. We are seeing a lot of bullish setups (long bases) emerge and would like to see the market breakout and go top-side and rally from here. Especially, because sentiment is soooo bearish (even at these levels).
 
 

FLS Portfolio
The service has steadily increased its long exposure in recent weeks. As of this writing (2:45pm EST) the service owns: 

 
A. The service owns: AMZN +6.19%, SPY +2.39%, EA -1.09%, LEN +2.82%
B. The service will exit: AMZN @ 685.70, SPY @ 207.07, EA @ 74.17, LEN 44.77 
 
 
Working Orders:
 
Status Order Ticker Buy Stop Protective Sell Stop Risk From Entry
Open Buy GG 18.87 17.67 -6.36%
 

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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