Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, XLE, XME, FDN, MA, V, ACI, CNX, BTU, EOG, TSO, VLO, PSX, GOOG, GOOGL, AMZN, PCLN, FB, NFLX, DO

This market has been pretty crazy! Monday's drop was pretty unreal! The Dow was briefly down over 1,000 points. This was after falling three days in a row the week before. SPX fell down to 1867 before bouncing.

But, as expected, buyers came in on Tuesday, although the gains did not hold. Wednesday was a different story. Buyers drove stocks back higher and the buying continued into Thursday. Friday was a flat day and the major indices eked out a gain for the week.

We had a very profitable week finding winners on both sides. On Monday, we cashed out a big winner in GOOG puts, with +301% profit. We then jumped into the up side with calls in NFLX, SCTY, and MBLY. NFLX calls gave us an overnight +68.7% gain! Here are the closed trades for the week:

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For the week, the Dow was up 183.26 points; SPX added +17.98 points; Nasdaq gained +122.28 points. Gold fell to around $1130/ounce. Oil (WTI) bounced strongly, to near $45/barrel. At the time of this writing, Asian markets were mostly lower. Here are how the US markets looked after Friday's close:

SPX

On Friday, SPX added +1.21 points to close at 1988.87. It closed just below its daily MAs. Its MACD went up.

Nasdaq

Nasdaq gained +15.62 points to close at 4828.33. It closed just above its 10-day MA.Both SPX and Nasdaq came down sharply and bounced sharply. For the new week...

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Posted to Ecstatic Plays on Aug 31, 2015 — 12:08 AM
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