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. SNDK remains on the radar as a takeover target.

Financials were sluggish to start the week, as earnings from JPM, WFC, and GS were not very inspiring. But, buyers came in in full force on Thursday. We caught most of that surge with our GS calls, which brought in profits as high as +43%. Our GLD calls also scored an intraday +48% gain! Here are the closed trades for the week:

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For the week, the Dow was up +131.48 points; SPX added +18.22 points; Nasdaq gained +56.22 points. Gold continued to push higher, trading above $1170/ounce (see my latest analysis on gold). Oil was flat, trading above $47/barrel. At the time of this writing, Asian markets were mixed. Let's see where the US markets stood after Friday's close:

SPX

On Friday, SPX added +9.25 points to close at 2033.11. Its daily MAs and MACD went up.

Nasdaq

Nasdaq gained +16.59 points to close at 4886.69. Its daily MAs and MACD also went higher.Markets experienced some weakness on Tuesday and Wednesday last week, but, were able to finish higher with the help of a rally from the financials. For the new week...

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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 ...

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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 ...

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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 ...

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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

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, SOXX, FDN, GOOG, GOOGL, AMZN, FB, PCLN, AVGO, BRCM, NXPI, SWKS, CELG, BIIB, GILD, AMGN, GS, BAC, WFC, JPM

Very often, I capture how the market is going to move throughout the week with just one paragraph of description in my weekly Market Forecast. Last weekend was not an exception, in which I wrote:

"For the new ...

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

Very often, I capture how the market is going to move throughout the week with just one paragraph of description in my weekly Market Forecast. Last weekend was not an exception, in which I wrote:

"For the new ...

Read More
Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK, FDN, GLD, GOOG/GOOGL, AMZN, PCLN, FB, NFLX, GS, BAC, JPM, CELG, GILD, AMGN, CLVS

Last weekend, in my Market Forecast, I wrote:

"For the new week, the market will start out with a neutral stance, albeit leaning a bit more towards bullish. I think there is a chance that SPX will re-test ...

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

Last weekend, in my Market Forecast, I wrote:

"For the new week, the market will start out with a neutral stance, albeit leaning a bit more towards bullish. I think there is a chance that SPX will re-test ...

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Comments

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, BTK SOXX, FDN, XLE, GOOG, GOOGL, AMZN, PCLN, TWTR, FB, LNKD, GS, ADBE, APC, APA, EOG, OXY, CELG, GILD, BIIB, CLVS, INCY, KITE

The markets were range-bound last week, as stocks consolidated. After Labor Day Monday, Markets opened with a rally on Tuesday. But, as discussed in my Market Forecast last weekend, stocks hit resistance between 1970-1980. After a quick overshoot on Wednesday, ...

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