Wang’s Happy Trading

The market had a great week last week, with the Dow gaining +393.02 points. Metals, agriculture, and solar stocks were particularly strong. Let’s take a look to see where the market stands.

SPX

On Friday, SPX added +1.09 points to close at 1370.4. Its daily MAs and MACD continued to rise.

Nasdaq

Nasdaq gained +7.68 points to close at 2370.98. Its 20-day MA is about to cross above the 30-day MA, as the 10-day MA went higher. The MACD extended its uptrend.

For the new week, I think the market is in a very good position to continue higher. It made a big jump this past week and successfully vented without losing altitude. Many different sectors have become more bullish. We’ll be looking to see if the market can continue higher along its daily upper BB. The financial sector will be again important to watch.

Sector Watch
XLF (financials)

XLF has risen back above its daily MAs. The 10-day and 20-day MAs are now rising. The MACD have also turned up. GS, MA, LEH, JPM, BLK are some of the interesting ones to watch.

MOO (agriculture)

MOO made a huge gains on Thursday and Friday, catching its daily upper BB. It can continue to be strong and ride its daily upper BB higher. POT, in particular, is trading at its all-time high. Other favorites include: MOS, CF, and MON.

The complete Sector Watch will only be available on the member site this week. You may also use the day passes to obtain access to the rest of this article. Thanks!

Happy Sunday and HappyTrading! ™