Weekly Wrap-Up, Market Forecast, Sector Watch: SPX, Nasdaq

The broader market held its ground last week, still ending in record territory. We traded well and my Ecstatic Plays Portfolio‘s value continued to increase.

We had a lot of nice plays last week. Our YOKU and NFLX calls were among the top gainers. Here are the closed trades for the week:

For the week, the Dow was down 40.54 points; SPX added +3.33 points; Nasdaq gained +41.07 points. Oil was flat with WTI sticking around $60/barrel. Gold pulled back, but, managed to stay above $1200/ounce. Asian markets were mixed on Monday, but, China and Hong Kong remained strong. Here are where the US markets closed last Friday:

SPX

SPX slipped 4.76 points to close at 2126.06. Its daily MAs and MACD were little changed.

Nasdaq


Nasdaq slid 1.43 points to close at 5089.36. Its daily MAs and MACD were a little higher.

The broader market seems to be stuttering again, attempting to find a direction. But, still, there is no lack of nice movements as the market is teeming with mergers and acquisitions. Today, financial pages are filled with reports that CHTR is ready to close a $55 billion deal to buy TWC!

Disclosure: Marketfy is having a $10 for the 1st month coupon for this year’s Memorial Day. The coupon code is ...

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