Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, FDN, TLT, GLD

The markets were very volatile last week.  On Monday, stocks opened higher, but, closed down.  On Tuesday, stocks opened lower, but, closed up.  On Wednesday, stocks jumped, but, could not break out on Thursday.  Friday was met with a steep sell-off.

In my Market Forecast last weekend, I said,

" This market has been flirting with the top of this trading range for a while now. It's difficult to say if it's got enough fuel to escape from the gravity of this trading range."

Indeed, it seemed that the market shared and showed my sentiment.  Buyers were unwilling to let the market break out with the earnings season just starting.  Instead, they shifted their focus to Greece, which is still struggling to come to agreement with the IMF and EU over economic reforms required by its lenders in order to unlock the remaining bailout fund.

Nevertheless, we had another nice week, and my Ecstatic Plays portfolio value continued to push higher:

Here are the closed trades for the week:

To subscribe to Ecstatic Plays, please click HERE.

For the week, the Dow was down 231.35 points; SPX fell 20.88 points; Nasdaq lost 63.77 points.  Oil (WTI) had a strong week and traded above $55/barrel.  Gold slid a bit, but, still closed above $1200/ounce.  At the time of this writing, Asian markets were mixed.  Here's how the US markets closed on Friday:

SPX

SPX fell 23.81 points to close at 2081.18.  Its daily MAs flattened and the MACD went down.

Nasdaq

Nasdaq dropped 75.98 points to close at 4931.81.  It closed below its daily MAs.

Both market indices seem to be testing their respective initial support levels.  For the new week, lots of earnings reports are piling in:

MON: (AM) HAL, HAS, MS, STI; (PM) IBM, PKG, ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, FDN, TLT, GLD, MS, STI, STT, GOOG, AMZN, BRCM, QCOM, FB, YHOO, XLNX, CTXS, LLY, ALTR, EBAY, HAL

The markets were very volatile last week. On Monday, stocks opened higher, but, closed down. On Tuesday, stocks opened lower, but, closed up. On Wednesday, stocks jumped, but, could not break out on Thursday. Friday was met with a steep ...

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NFLX Soars More Than 18%! NFLX, SLB, GS

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We didn't hold any position on ...

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Markets had a strong week last week. Stocks rallied higher on Monday, but, faltered and traded in a tight range until Thursday afternoon. Surprisingly, they pushed higher on Friday for a strong weekly close.

We made some nice trades this ...

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We made some nice trades this ...

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Some Big Movers: EOG, TSLA, PANW, CYBR, TWTR, CLVS, FDX

Stocks have been most positive so far this week.  Energy stocks have bounced, and oil spiked up over the past two days with Brent testing $60/barrel and WTI trading at around $53/barrel.  We trade EOG calls in my Happy Trades ...

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Markets fell last week. Things were sluggish on Monday and Tuesday. But, Wednesday saw a steep drop, led by profit-taking in the biotechs. On Thursday, stocks struggled to bounce off of the lows. Buyers came in on Friday, and semiconductors ...

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Red Hat Jumps 10 Precent! RHT, BIDU, CELG, SWKS, LULU, AMGN

The markets have been really volatile this week.  Selling pressure mounted late Tuesday.  On Wednesday, stocks were in a free fall.  We had positions on both sides, and we quickly added puts on Wednesday morning.  We also kept a lot ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, FXI, HGX, GS, BLK, STI, BIDU, QIHU, BABA, TOL, KBH, WHR, LEN, EOG, APA, APC, CVX, SLB

The market had a tremendous week, with Nasdaq closing above 5,000! Stocks jumped on Wednesday, after the Fed promised to "not be impatient" in raising rates, even though it took out the words "patient" in its latest statement. SPX is ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, XLE, SOXX, GS, BAC, WFC, JPM, STI, PNC, MA, V, C, EOG, APA, APC, HES, OXY, NOV, RIG, DO, BIIB, CELG, AMGN, REGN

Last weekend, in my Market Forecast, I said,

"For the new week, I think we will see more volatility. For SPX, 2070 is a support, below which the next support lies at 2050. Nasdaq has support first around ...

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