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

It was a volatile week, but, the markets managed to push higher. Monday and Tuesday were strong, continuing from the rally inspired by BIDU and LNKD's earnings. However, we saw profit-taking on Tuesday afternoon that spilled into Wednesday and Thursday's trading, ahead of Friday's jobs report. The latest jobs numbers turned out to be really good, which renewed fear towards a December rate hike. But, late Friday morning, buyers started to return again. Both the Dow and Nasdaq ended Friday in the green. SPX closed down by less than a point!

Here are the closed trades for the week. Some of the highlights include intraday winners on MLM and VMC calls; PANW calls also did well:

To subscribe or to find out more about this product, please CLICK HERE. Come see what Ecstatic Plays offers and what we are trading next!

For the week, the Dow was up +246.79 points; SPX added +19.84 points; Nasdaq gained +93.37 points. Gold took a sharp fall, closing around $1090/ounce. Oil slid to trade just above $44/barrel. At the time of this writing, Asian markets were mostly higher. Here's how the US markets looked after Friday's close:

SPX

On Friday, SPX slipped to 2099.2, down less than 1 point. It stayed above its daily MAs, but, just below 2100. The MACD slid.

Nasdaq

Nasdaq added +19.38 points to close at 5147.12. Its daily MAs went up, but, the MACD flattened.

Both indices stuttered after Tuesday's intraday high. We did see some profit-taking ahead of the jobs report. For the new week, with the holiday season fast-approaching, I think the markets will stay up, although some consolidation may continue to happen.

I was at the outlet malls and Costco this weekend, and they were packed with shoppers! Suddenly, it felt like the average consumer ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XRT, BTK, FAS, FDN, GS, V, ROST, NFLX, AMZN, REGN, AGN, VRX, CELG, AIG, TSLA, CYBR, AAPL, LNKD

The market was very strong last week. A quick drop on Wednesday as an initial reaction to the Fed was quickly reversed by a sharp rally that pushed SPX to above 2090. In my Market Forecast last weekend, I talked ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XRT, BTK, FAS, FDN

The market was very strong last week. A quick drop on Wednesday as an initial reaction to the Fed was quickly reversed by a sharp rally that pushed SPX to above 2090. In my Market Forecast last weekend, I talked ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, XLE, XRT, BRCM, AAPL, BABA, UPS, TWTR, GILD, YELP, AMGN, CRUS, FFIV, EQIX, ATML, MA, ALXN, SBUX, FSLR, XOM, CVX

Markets enjoyed solid gains last week. Thanks to strong earnings from AMZN, GOOG/GOOGL, and MSFT, which inspired a rally on Friday. The market started out undecided, as stocks traded in a narrow range on Monday and Tuesday. On Wednesday, a ...

Read More
Comments

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

Markets enjoyed solid gains last week. Thanks to strong earnings from AMZN, GOOG/GOOGL, and MSFT, which inspired a rally on Friday. The market started out undecided, as stocks traded in a narrow range on Monday and Tuesday. On Wednesday, a ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XME, BTK, XLE, FDN, AMZN, P, GOOG, GOOGL, EBAY, BIIB, GILD, CELG, AMGN, ALK, LUV, AAL, ALGT, FCX, ATI, NUE, CAT

Last week, markets managed to push higher, propelled by the strength in the semiconductors and a late rally by the financials. Semiconductors have been drawing speculators searching for the next deal, ADI and MXIM being the latest in merger talks ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XME, BTK, XLE, FDN

Last week, markets managed to push higher, propelled by the strength in the semiconductors and a late rally by the financials. Semiconductors have been drawing speculators searching for the next deal, ADI and MXIM being the latest in merger talks ...

Read More
Comments

Time to Buy Some Gold! GLD

If you had invested in gold at the beginning of this year and did not cash out at the end of January, that investment probably had not done very well for you. But, your luck in gold could be about ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, SOXX, FDN, GS, BAC, WFC, JPM, BLK, INTC, ASML, XLNX, NXPI, AVGO, SWKS, CRUS, BRCM, REGN, VRX, AMGN, BIIB, NFLX, TWTR, LNKD, YELP

Markets finally had a strong week last week. Things popped higher on Monday, as SPX closed just under 1990. Tuesday and Wednesday saw some struggles with the direction as the trading range narrowed. However, Thursday's Fed Minutes gave buyers reasons ...

Read More
Comments

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

Markets finally had a strong week last week. Things popped higher on Monday, as SPX closed just under 1990. Tuesday and Wednesday saw some struggles with the direction as the trading range narrowed. However, Thursday's Fed Minutes gave buyers reasons ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, BTK, SOXX, IGV, SOXX, CELG, PTCT, HRTX, AGN, CLVS, KITE, CRM, RHT, ADBE, XOM, CVX, EOG, APA, OXY, AVGO, NXPI, SWKS, CRUS

Last week was an interesting week. On Monday and Tuesday, stocks dropped and SPX tested 1870, not quite as low as the August low. So things got a bit tricky, as the bulls and bears fought it out. But, by ...

Read More
Comments

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

Last week was an interesting week. On Monday and Tuesday, stocks dropped and SPX tested 1870, not quite as low as the August low. So things got a bit tricky, as the bulls and bears fought it out. But, by ...

Read More
Comments