Market Forecast + Sector Watch: SPX, Nasdaq, FAS, XRT, XLE, FDN, WFC, V, MA, RL, TGT, ROST, TJX, LULU, AMZN, GOOG, GRPN, BBY

Even though energy stocks fell sharply last week, the overall market made new highs again! Tech stocks continued to be strong, along with the financials.

For the week, the Dow was up +18.18 points; SPX added +4.06 points; Nasdaq jumped +78.66 points. Both gold and oil turned back down sharply, with gold trading just above $1150/ounce and oil trading below $65/barrel! At the time of this writing, Asian opened the new week mixed. China and Japan were still looking strong! Here's how the US markets looked after Friday's close:

SPX

On Friday, SPX slipped 5.27 points to close at 2067.56. Its MACD stayed flat.

Nasdaq

Nasdaq, however, added +4.31 points to close at 4791.63. Its daily MAs and MACD were up.

Nasdaq does look stronger than SPX, as it seems to be riding its upper BB up higher. SPX almost broke out, but, was held back, in parts, by the energy stocks. For the new week...

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Posted to Ecstatic Plays on Nov 30, 2014 — 11:11 PM
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