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 +41.52 points; Nasdaq gained +149.44 points. Gold was basically flat, trading just below $1230/ounce. Oil got a huge bounce, closing at $53/barrel. At the time of this writing, Asian markets were mostly up, even though Greece failed to secure an extension on its bailout package. Here's where the US markets closed on Friday:
On Friday, SPX added +8.51 points to close at 2096.99. Its daily MAs and MACD moved up.
Nasdaq gained +36.22 points to close at 4893.84. Its daily MAs and MACD also went up.
Both indices vaulted higher last week. Even though Greece and the Euro Zone still have not reached an agreement on the bailout package, markets in Asia do not seem to be adversely affected too much. For the new week...
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