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

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 4900, then at around 4850. This could be a struggle. There will be profit-takers locking in big profits. On the other hand, there are likely still money on the sideline trying get in."

Indeed, it was a very volatile week.  The market was up on Monday.  Then, it took a steep drop on Tuesday, with SPX ending below 2050.  Wednesday, things slid a little more, with SPX touching 2040.  But, Thursday saw a huge bounce, bringing SPX all the way back to 2065!  Friday morning was weak, with SPX reeling back to below 2050.  But, buyers came in in the afternoon and drop SPX back above 2050 for the close.

We had a mixed week.  Here are the closed trades:

For the week, the Dow was down 107.47 points; SPX fell 17.86 points; Nasdaq dropped 55.61 points.  Oil (WTI) took a big drop on Friday, closing under $45/barrel.  Gold also dropped, closing below $1160/ounce.  At the time of this writing, Asian markets were up, with China leading the pack, gaining +1.8%!  Here's where the US markets closed on Friday:

SPX

On Friday, SPX fell 12.55 points to close at 2053.4, above 2050.  Its daily MAs and MACD moved lower.

Nasdaq

Nasdaq dropped 21.53 points to close at 4871.76.  It closed just above its 30-day MA.  The MACD fell.

SPX closed below its daily MAs, but, Nasdaq still managed to close just above its 30-day MA.  For the new week, things still look volatile.  On Wednesday, we will hear from the Fed on the outlook of rates rising.  Techs are ...

Read More
Comments

Financial Stocks Up After Market: ACT, INTC, MYL, ICPT, GEVA, KITE, AXP, C, GS, MS

After market today, banks traded higher.  Fed has approved plans by various banks to raise dividends and buy back shares.

After the market, C jumped +2.62%; MS popped nearly +3%.  GS and AXP also traded up.  AXP announced a $6.6 ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, XLE, GLD, GS, STI, PNC, APA, APC, EOG, OXY, SLB, HES, BIIB, BMRN, MDVN, GEVA, KITE, CLVS

Last weekend, in my Market Forecast, I wrote:

"With the weakness in energy and financial stocks, it does look like the market may need a few days to consolidate. But, I still think Nasdaq will test 5,000 in ...

Read More
Comments

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

Last weekend, in my Market Forecast, I wrote:

"With the weakness in energy and financial stocks, it does look like the market may need a few days to consolidate. But, I still think Nasdaq will test 5,000 in ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, FDN, XLE, IGV, GOOG, NFLX, TSLA, AMZN, GILD, GMCR, GS, MA, V, OXY, EOG, APA

Markets were range-bound this week, but, tech stocks remained strong. Nasdaq came just 10.75 points shy off touching the 5,000 mark! Energy and financial stocks held the broader market back. My Ecstatic Plays portfolio is at a new all-time high: ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, FDN, XLE, IGV

Markets were range-bound this week, but, tech stocks remained strong.  Nasdaq came just 10.75 points shy off touching the 5,000 mark!  Energy and financial stocks held the broader market back.  My Ecstatic Plays portfolio is at a new all-time high: ...

Read More
Comments

Come Join the Fun! GOOG, AMBA, TJX, QCOM, GS

Markets have been pushing higher and we are making lots of good trades!  My Ecstatic Plays portfolio is now over +150% up!  Here's the performance chart:

Ecstatic Plays vs. SPX

My Happy Trades portfolio is doing exceptionally well this week.  ...

Read More
Comments

Another Week of Profits! FEYE, TSLA, FB, Z, PCLN

Both the Dow and SPX closed at new record highs this week!  We had a really nice week with lots of nice trades that gave us solid profits.  Besides a few trades, most of the trades this week were profitable, ...

Read More
Comments

A Little Rest After Another New Record? Z, PCLN, FEYE, GPRO, CYBR, SSYS, DDD, JACK, FOSL

SPX closed at another new record high today, above 2100!  We also continued to lock in nice gains.  We locked in some nice profits today, including calls on PCLN, Z, and FEYE.

GPRO Mar 20 2015 Call 46.0 $5.10 $1,450.00 ...
Read More
Comments

Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, XLE, XRT, GS, WFC, JPM, APA, EOG, INCY, CELG, DVN, BIIB, AMGN, GILD, VRTX, JAZZ, CLVS, AMZN, NFLX, RL, COST

After struggling for two months in a tight trading range, markets broke out last week. Just about every sector locked in gains. Even metals and mining stocks went higher!

For the week, the Dow was up +195.06 points; SPX added ...

Read More
Comments

Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, XLE, XRT

After struggling for two months in a tight trading range, markets broke out last week.  Just about every sector locked in gains.  Even metals and mining stocks went higher!

For the week, the Dow was up +195.06 points; SPX added ...

Read More
Comments

Markets Sail Higher + $10 14-Day Trial + Weekly Wrap-Up!

Happy President's Day!

Markets vaulted higher last week with SPX hitting a new all-time high and Nasdaq only about 2% away from the 5000 mark!  Strong earnings and stabilization of oil prices gave investors more confidence to stay in the ...

Read More
Comments