Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, GLD, XLE, FAS, FDN, GS, VLO, GLD, MS, AXP, HAL, IBM, NFLX, FFIV, EBAY

Stocks recorded another losing week last week. In my Market Forecast, I wrote:

"We will definitely get a feel from the financials, which could drive the broader market one way or the other. We have support at SPX 2000 and resistance at 2080."

Indeed, financials were very weak and dragged down the broader market. Things fell on Monday. Tuesday was a volatile day with a "head-fake" pop in the morning, only to close lower. Wednesday and Thursday were a struggle to hold below SPX 2000. Finally, on Friday, some buyers trickled in and the market saw a little bounce.

We had a busy week. Gold calls and energy puts gave us some nice profits. Here are the closed trades:

GLD Feb 20 2015 Call 120.0 $4.775 $1,300.00 37.41% 01/16/2015
EOG Feb 20 2015 Call 87.5 $6.175 $1,050.00 20.49% 01/16/2015
VXX Jan 23 2015 Call 35.0 $2.625 $275.00 11.70% 01/16/2015
GILD Feb 20 2015 Put 100.0 $5.225 $-450.00 -7.93% 01/16/2015
AMZN Jan 23 2015 Put 292.5 $7.675 $325.00 9.25% 01/15/2015
AMZN Jan 23 2015 Put 292.5 $7.35 $162.50 4.63% 01/15/2015
Z Feb 20 2015 Put 100.0 $7.85 $525.00 15.44% 01/15/2015
HLF Jan 17 2015 Put 32.5 $2.065 $-185.00 -8.22% 01/14/2015
AMZN Jan 17 2015 Put 292.5 $4.875 $287.50 13.37% 01/14/2015
GS Jan 17 2015 Put 185.0 $4.75 $927.50 64.08% 01/14/2015
VLO Feb 20 2015 Put 47.5 $3.975 $705.00 21.56% 01/14/2015
VLO Feb 20 2015 Put 47.5 $3.75 $480.00 14.68% 01/14/2015
SCTY Feb 20 2015 Call 50.0 $3.65 $-75.00 -2.01% 01/13/2015
BA Feb 20 2015 Call 130.0 $3.825 $-2,587.50 -31.08% 01/13/2015
AAPL Feb 20 2015 Call 110.0 $4.875 $-1,425.00 -22.62% 01/13/2015
V Jan 17 2015 Put 260.0 $0.85 $-3,700.00 -81.32% 01/13/2015
GLD Jan 17 2015 Call 117.0 $2.02 $70.00 3.59% 01/13/2015
OXY Jan 17 2015 Put 75.0 $1.03 $-5.00 -0.48% 01/13/2015
OXY Jan 17 2015 Put 75.0 $1.355 $320.00 30.92% 01/12/2015
GLD Jan 17 2015 Call 116.0 $2.77 $955.00 52.62% 01/12/2015
TSLA Jan 17 2015 Put 205.0 $7.525 $1,150.00 44.02% 01/12/2015

For the week, the Dow was down 225.8 points; SPX fell 25.39 points; Nasdaq lost 69.69 points. Gold, once again a "safe haven", got a nice pop, closing at around $1277/ounce. Oil traded down to below $45/barrel, but, clawed its way back to close just below $50/barrel. At the time of this writing, Asian markets were mostly higher, although on Monday, China was down nearly 7% on new margin regulation for stock brokerage accounts. Here's where the US markets stood after Friday's close:

SPX

On Friday, SPX added +26.75 points to close at 2019.42. It closed below its daily MAs. The MACD was flat.

Nasdaq

Nasdaq bounced +63.56 points to close at 4634.38. It also closed below its daily MAs and the MACD slid.

Both SPX and Nasdaq closed below their respective daily MAs. For the new week...

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Posted to Ecstatic Plays on Jan 20, 2015 — 12:01 AM
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