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

Stocks were really strong last week, as Greece reversed its position and agreed to more austerity demanded by its creditors. SPX popped higher to test 2100 on Monday. By Tuesday morning, SPX had already broken through. Solid earnings from financial companies kept buyers in the markets. On Wednesday and Thursday, tech stocks got charged up by strong results from NFLX and GOOG. Nasdaq closed at a new all-time high on Friday.

We had a tremendous week, hitting both NFLX and GOOG earnings jumps! The earnings trade on GOOG gave us an overnight +502% profit! Here are the closed trades for the week:

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For the week, the Dow was up +326.04 points; SPX added +50.02 points; Nasdaq gained +212.44 points. Gold tumbled down to barely holding above 1100/ounce! Oil (WTI) also traded lower, closing just below $51/barrel. At the time of this writing, Asian markets mixed and little changed. Let's see where the US markets closed on Friday:

SPX

On Friday, SPX added +2.35 points to close at 2126.64. Its daily MAs and MACD were slightly up.

Nasdaq

Nasdsaq gained +46.96 points to close at 5210.14, a new all-time high!

Both SPX and Nasdaq completed a V-shape recovery from the pullback that started in late June. Last week had the right catalysts (Greek deal and great earnings) to push stocks higher. For the new week, earnings reports will continue to come in:

MON: (AM) HAL, MS; (PM) IBM, STLD, CNI
TUE: (AM) ATI, CP, SAP, AMTD, UTX, ...

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Raking In Big Profits With Netflix and Google! NFLX, GOOG, GOOGL

Yesterday, we cashed out our NFLX calls for a nice +79% gain!

NFLX has been very good for us, and, we have caught just about every big jump. A couple of weeks ago, when Netflix announced the 7-to-1 split, we ...

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Three Stocks To Buy Right Now! MBLY, SPLK, DATA, VDSI, MSFT, CRM

A month ago, I wrote an article titled, "Buy Mobileye Now!!". In the article, I was looking for MBLY to retest $60. Since then, there have been numerous upgrades on MBLY, and, today, MBLY traded as high as ...

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Micron Gets A $23 Billion Bid From China! MU, INTC, ALTR, NXPI, AVGO, BRCM, MRVL

Tonight, there are rumors that Micro (MU) is about to get a $23 billion bid from China's Tsinghua Unigroup Ltd. MU closed at $17.61 on Monday with a market cap of $19 billion. If the rumors were true, the ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, XRT, SOXX, FDN. GS, BAC, WFC, JPM, GOOG, GOOGL, INTC, EBAY, NFLX, AVGO, BRCM, SWKS, COST, YUM

Last week, Markets started on the week side. As I have noted before, there is resistance at 2080, and support between SPX 2060 and 2040. On Tuesday, SPX touched 2044 and bounced back. It was then a volatile, but range-bound ...

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

Last week, Markets started on the week side. As I have noted before, there is resistance at 2080, and support between SPX 2060 and 2040. On Tuesday, SPX touched 2044 and bounced back. It was then a volatile, but range-bound ...

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Asian Markets Tumble! SINA, SOHU, NTES, BIDU, CTRP, BABA, WUBA, WBAI, WB, QIHU, QUNR

Asian markets are down as I start to compose this article. Hong Kong's Hang Seng is down over 1,000 points (or, about 4.5%)!! Japan is currently down about 1.5%. China is down another 5%!

Earlier today in the US market, ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece Votes "No", FAS, BTK, FDN, IGV, GS, BAC, JPM, WFC, V, PNC, STI, AMZN, FB, GOOG, NFLX, BIIB, CELG, AMGN, GILD, JAZZ, RHT, CRM, CYBR

Happy 4th of July weekend!

Last weekend, in my Market Forecast, I said,

"For the new week, the markets look to open on the downside. SPX's initial support is at 2080. Below 2080, there is support between 2060-2040 ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece Votes "No", FAS, BTK, FDN, IGV

Happy 4th of July weekend!

Last weekend, in my Market Forecast, I said,

"For the new week, the markets look to open on the downside. SPX's initial support is at 2080. Below 2080, there is support between 2060-2040 ...

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World Markets Fall On Greece! AMBA, PCLN, VIX, AMZN, GOOG, GS, LNKD, EXPE, JUNO, CELG

Financial markets around the global fell on Monday as Greece imposed capital controls and shut down banks! US markets were holding up pretty well throughout the morning, down only about 1%. But, as the day went, the selling continued. ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece, FAS, BTK, FDN, IGV, GS, WFC, JPM, V, MA, BIIB, INCY, LLY, CLVS, HRTX, BLUE, KITE, CYBR, FEYE, VDSI, PANW

"Greece" once again dominated the news in the financial markets. Last week, things were already volatile. Nasdaq popped to a new all-time high on Monday and SPX tested 2130 again. But, as talks between Greece and its creditors dragged on, ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece, FAS, BTK, FDN, IGV

"Greece" once again dominated the news in the financial markets. Last week, things were already volatile. Nasdaq popped to a new all-time high on Monday and SPX tested 2130 again. But, as talks between Greece and its creditors dragged on, ...

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Comments