The stock market experienced a range-bound Friday, which was a fitting end to a quiet week. The S&P 500 settled lower by 0.2% after spending the day in a six-point range while the Nasdaq (unch) outperformed slightly. For the week, the S&P 500 added 0.2% while the Nasdaq gained 0.8%.
- Nasdaq Composite +7.5% YTD
- Russell 2000 +4.0% YTD
- S&P 500 +3.3% YTD
- Dow Jones Industrial Average +2.3% YTD
Last week was slow for sure and it sure is possible that the summer doldrums are upon us. I think we could see a nice low volume summer rally though, and it still looks like a rate increase is on the back burner.
It was a slow week last week, but we managed some more good trades for our members:
NFLX ( we sold another partial) +$40 which was a twelve day hold.
OPX ( we sold another partial) +$2.40 for a 15.7% return which was a six day hold.
AMBA (we sold a partial) +$7.40 for a 9.4% return which was a three day hold
SWHC ( we sold for a .15c loss)
I have some great looking long setups for the week ahead, as well as a full video analysis getting released this weekend, so sign up today.
Have a great long weekend and join us as a member today. Guaranteed price fix for life.