It was another volatile week! Markets popped on Monday, sending SPX back up to test 2105. But, the selling came on Tuesday and Wednesday, pushing SPX down to test 2050. Then, buyers came in again on Wednesday afternoon. Thursday and Friday traded in a tight range, with SPX ending above 2090.
We had another mixed week. We had mostly profitable trades. CSCO calls on as an earnings play did well. CREE calls after earnings was lucrative and we booked in some nice intraday gains. Here are the closed trades for the week:
For the week, the Dow added +104.02 points; SPX slid +13.97 points; Nasdaq crept up +5.4 points. Gold popped higher to trade above $1110/ounce. Oil (WTI) sank below $43/barrel. At the time of this writing, Asian markets were mixed. Let's take a look at how the US markets closed on Friday.
On Friday, SPX added +8.15 points to close at 2091.54. Its daily MAs were little changed. The MACD crept higher.
Nasdaq gained +14.68 points to close at 5048.24. Its daily MAs slid.SPX managed to closed just above its 10-day MA, while Nasdaq finished below its daily MAs. For the new week...
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