The market had a tremendous week, with Nasdaq closing above 5,000! Stocks jumped on Wednesday, after the Fed promised to "not be impatient" in raising rates, even though it took out the words "patient" in its latest statement. SPX is back above 2100 and the Dow is above 18,000.
We also had a nice week. In both of my products' portfolios, we made nice trades. Here are the closed trades for "Ecstatic Plays":
Our plays on QIHU, BIDU, MYL, and GS calls did very well.
For my "Happy Trades" portfolio, we scored on CRM, SNDK, QIHU, JAZZ, KITE, and MYL calls:
For the week, the Dow was up +378.34 points; SPX added +54.72 points; Nasdaq gained +154.66 points. Oil was basically flat, closing at $46.5/barrel. Gold bounced higher, nearly $1185/ounce. At the time of this writing, Asian markets were mostly higher. Let's see where the US markets closed on Friday:
On Friday, SPX added +18.83 points to close at 2108.1. Its 10-day MA turend up and so did its MACD.
Nasdaq gained +34.04 points to close at 5026.42. Its daily MAs and MACD moved higher.
Both SPX and Nasdaq closed strongly last week. What's interesting is that RUT (Small Caps), or Russell 2000, is even stronger. SPX and the Dow still look neutral. For the new week...
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