Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, XLE, SOXX, GLD

On Friday, SPX made a new all-time high at 2120.92 and closed at a new closing high at 2117.69.  Nasdaq also pushed higher, closing at 5092.08.  MSFT jumped more than +10% on Friday and AMZN vaulted more than +14%.  GOOG also helped adding almost +3%.

We had a great week, with my Ecstatic Plays portfolio at a new all-time high value:

Ecstatic Plays is now up +161% in the last 365 days, and up more than +15% for 2015.  Here are the closed trades for the week:

TSLA calls produced a nice +89% profit!

My Happy Trades portfolio also did very well!  SKX calls were a big win, adding more than $10,000 to the portfolio:

To subscribe to Ecstatic Plays, please click HERE.  To subscribe to Happy Trades, please click HERE.

For the week, the Dow was up +253.84 points; SPX added +36.51 points; Nasdaq gained +160.28 points.  Gold slumped down to around $1180/ounce, while oil (WTI) traded up to about $57/barrel.  At the time of this writing, Asian markets were mixed.  Let's take a look at where the US markets stood after Friday's close:

SPX

On Friday, SPX added +4.76 points to close at 2117.69.  Its daily MAs and MACD moved up.

Nasdaq

Nasdaq gained +36.02 points to close at 5092.08.  Its daily MAs and MACD also went higher.

Both SPX and Nasdaq closed on a strong note last week.  However, financials were weak and cautious on Greek problems.  In addition, semiconductors were down sharply on Thursday and Friday.  For the new week, AAPL is heading off on earnings on Monday:

MON:  (AM) CYOU, SOHU, OSIS; (PM) AAPL, SWFT
TUE:  (AM) NOV, UPS, BP, YNDX, WHR; (PM) AKAM, BWLD, CRUS, ESRX, PNRA, TWTR, WDC, X
WED:  (AM) GRMN, HES, IDCC, MA, TWX; (PM) BIDU, CAVM, SFLY, VRTX, YELP
THU: (AM) CELG, CI, MPC, COP, CY, XOM, INCY, PSX, TWC, VRTS, BZH
(PM) AIG, EXPE, FEYE, FSLR, GILD, JDSU, LNKD, MYL, PSA, SWKS, SPWR, GEVA, MLM, V, WYNN
FRI:  (AM) CVX, WY, VFC

The broader market had a strong week.  We have to be a little cautious.  We'll have to see how AAPL reports after the market on Monday and see how the markets react.  Financials, energies, and semiconductors will be very important.

Sector Watch

GLD (gold)

GLD went from a potential breakout to a breakdown last week.  It looks like GLD will go lower, possibly testing the support between $111 and $110.

FAS (financial)

FAS closed barely above its daily MAs.  It is neutral right now.  Both MA and V, which enjoyed a nice pop last Wednesday on the huge potential business in China, are reporting next week.  We will have to see how EU deals with Greece next week.  AIG reports on Thursday.

XLE (energy)

XLE is having a hard time pushing higher.  In the coming week, HES is reporting on Wednesday; COP and XOM are reporting on Thursday.  Oil rally looks a bit tired, but, a new leg up is not out of the question.

SOXX (semiconductor)

SOXX closed below its daily MAs last week.  On Thursday, both TXN and XLNX dropped sharply after their earnings, reported on Wednesday afternoon.  The whole sector sold off.  It took away some of the steam in the broader market.  We'll have to keep an eye on this sector this week.

The market has broken higher, but, it will need "fuel" to continue this rally.  Without the financials and semiconductors, it will be difficult for the market to keep this altitude.  If the financials and semiconductors can keep thing at least neutral, the attention should be back on the internets and biotechs.

Good night and HappyTrading! ™

Posted to Ecstatic Plays on Apr 27, 2015 — 12:04 AM
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