Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, BTK, FAS, XLE, IGV, CELG, BIIB, AGN, PFE, CRM, AMGN, GILD, SPLK, GS, WFC, JPM

Markets bounced strongly last week, practically erasing losses from the week before. The broad-based rally was led by the financials and the internet stocks. Financials pushed higher as a December rate hike became more likely. GOOG/GOOGL made a new all-time high. AMZN was retesting its recent highs. NFLX recovered all of its recent losses. Even energy stocks managed a small bounce!

We also had another good week with most of our trades in the plus column. Our AAPL and TSLA calls did really well. BABA and CELG calls turned profits this week, as well. Here are the closed trades for the week:

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For the week, the Dow was up +578.57 points; SPX gained +66.31 points; Nasdaq jumped +177.04 points. Asian markest were mixed on Monday, with China and Hong Kong down in the red. Let's see where the US markets closed last week:

SPX

On Friday, SPX added +2.93 points to close at 2089.17. It closed just above its daily MAs. The MACD climbed.

Nasdaq

Nasdaq gained +31.28 points to close at 5104.92. It also closed above its daily MAs.Both SPX and Nasdaq managed to close above their respectively daily MAs. For the new week...


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