Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, XRT, SOXX, FDN

Last week, Markets started on the week side. As I have noted before, there is resistance at 2080, and support between SPX 2060 and 2040. On Tuesday, SPX touched 2044 and bounced back. It was then a volatile, but range-bound market. Stocks sold off on Wednesday again. On Thursday morning, there was buying in the morning, but it faded towards the close. Things looked better on Friday, as Greece submitted a new proposal for the bailout. Still, SPX was not able to push above 2080.

Since the market was swinging back-and-forth, we did not trade as much. Here are the closed trades for the week:

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Tonight, at the time of this writing, there was a "compromise proposal" to be further discussed among the EU leaders. It is early in the morning in Europe. We will have to see if the negotiations can make further progress.

For the week, the Dow was up +30.3 points; SPX was essentially unchanged; Nasdaq slipped 11.51 points. Gold slid, but, remained around $1160/ounce. Oil (WTI) fell to about $52/barrel. Let's see where the US markets stood after Friday's close:

SPX

On Friday, SPX added +25.31 points to close at 2076.62. It closed above its 10-day MA. The MACD moved up.

Nasdaq

Nasdaq gained +75.3 points to close at 4997.7.

Both SPX and Nasdaq experienced a good bounce on Friday, closing above their respective 10-day MAs. It will be a busy week next week, not only because of Greece, but, Fed watch ...

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Asian Markets Tumble! SINA, SOHU, NTES, BIDU, CTRP, BABA, WUBA, WBAI, WB, QIHU, QUNR

Asian markets are down as I start to compose this article. Hong Kong's Hang Seng is down over 1,000 points (or, about 4.5%)!! Japan is currently down about 1.5%. China is down another 5%!

Earlier today ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece Votes "No", FAS, BTK, FDN, IGV, GS, BAC, JPM, WFC, V, PNC, STI, AMZN, FB, GOOG, NFLX, BIIB, CELG, AMGN, GILD, JAZZ, RHT, CRM, CYBR

Happy 4th of July weekend!

Last weekend, in my Market Forecast, I said,

"For the new week, the markets look to open on the downside. SPX's initial support is at 2080. Below 2080, there is support between 2060-2040."

The ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece Votes "No", FAS, BTK, FDN, IGV

Happy 4th of July weekend!

Last weekend, in my Market Forecast, I said,

"For the new week, the markets look to open on the downside. SPX's initial support is at 2080. Below 2080, there is support between 2060-2040."

The ...

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World Markets Fall On Greece! AMBA, PCLN, VIX, AMZN, GOOG, GS, LNKD, EXPE, JUNO, CELG

Financial markets around the global fell on Monday as Greece imposed capital controls and shut down banks! US markets were holding up pretty well throughout the morning, down only about 1%. But, as the day went, the selling continued. SPX ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece, FAS, BTK, FDN, IGV, GS, WFC, JPM, V, MA, BIIB, INCY, LLY, CLVS, HRTX, BLUE, KITE, CYBR, FEYE, VDSI, PANW

"Greece" once again dominated the news in the financial markets. Last week, things were already volatile. Nasdaq popped to a new all-time high on Monday and SPX tested 2130 again. But, as talks between Greece and its creditors dragged on ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: Greece, FAS, BTK, FDN, IGV

"Greece" once again dominated the news in the financial markets. Last week, things were already volatile. Nasdaq popped to a new all-time high on Monday and SPX tested 2130 again. But, as talks between Greece and its creditors dragged on ...

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Making Money On Netflix Again! NFLX

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Chatroom Talks + Ambarella Drops 21% in One Day! AMBA, SNDK, BA

Last Friday, Citron Research made a statement calling AMBA shares too expensive and put a $60 12-month price target on the stock. We picked up AMBA puts on Friday.

Today AMBA fell fast right at the market open. It ended ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XLE, TLT, FAS, IGV, GS, PNC, STI, APA, APC, EOG, SLB, OXY, CYBR, FTNT, FEYE, HUM, CI, AET, UNH, ANTM

Last week, as expected, the market started on a weak note on Monday, But, buyers soon returned, leading up to a rally on Thursday, after the Fed told investors not to place too much importance on the initial interest hike ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XLE, TLT, FAS, IGV

Last week, as expected, the market started on a weak note on Monday, But, buyers soon returned, leading up to a rally on Thursday, after the Fed told investors not to place too much importance on the initial interest hike ...

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Biotechs Lead Nasdaq to Record High! BMRN, AMGN, RCPT, MDVN, BIIB, KITE, CELG, INCY, JAZZ, BA, AMZN, ISIS

Biotech stocks jumped higher today, pushing Nasdaq to a record high at 5133. Yesterday, after the market, BMRN shares popped higher, as the company reported positive results from a mid-stage study for its drug to treat the most common form ...

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