Markets were very volatile last week. As expected, new heights were made! However, things took a sharp drop when the Malaysia plane was shot down and Israel launched new attacks in Gaza. But, on Friday, buyers came back in again and drove things right back up!
We had a very nice week, considering how volatile the markets were. We traded on both sides, but, still calls seem render better results. MA calls was an easy play, as V was very strong and MA was lagging. SWKS gave us a quick intraday win, as the stock ramp up +14% after its earnings. Here are the closed trades:
For the week, the Dow was up +156.37 points, closing above 17,000; SPX added +10.65 points; Nasdaq gained +16.66 points. Gold pulled back to about $1310/ounce while oil bounced to $103/barrel. Asian markets ended mixed on Monday. Let’s take a look and see where the US markets closed on Friday:
On Friday, SPX added +20.1 points to close at 1978.22. It closed above its daily MAs. The MACD flattened.
Nasdaq gained +68.7 points to close at 4432.15. It closed above its daily MAs. The MACD was flat.
Both SPX and Nasdaq came right back up to close above their respective MAs. There certainly appears to be still buyers waiting on the sideline. For the new week…
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