Markets bounced last week and we had a very good week locking in profits on upside trades, as discussed in my Weekly Wrap-Up post.
For the week, the Dow was up +161.03 points; SPX added +32.4 points; Nasdaq gained +123.5 points. Gold traded higher, closing above $1290/ounce. Oil slid again, trading at around $45/barrel (WTI). At the time of this writing, Asian markets were slightly down. Here's where the US markets closed on Friday:
On Friday, SPX fell 11.33 points to close at 2051.82. It managed to stay above its daily MAs. The MACD was higher.
Nasdaq gained +7.48 points to close at 4757.88. Its MACD also went up.
Both SPX and Nasdaq managed to close above their respective daily MAs. But, the Dow ended just below its 20-day MA (not shown above). The coming week is going to be a busy one. Not only are we getting a bulk of the earning reports coming in, we will also hear from the Fed on interest rates. The latest housing data will be reported as well. For the new week...
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