Last weekend, in my Market Forecast, I said,

"For the new week, it seems money just keeps pouring into the stock market.  October is quickly coming to an end, and there's only 2 more months until the end of the year.  I imagine that a lot of funds will need to chase the market.  This market could turn parabolic!  It'll have to if it is to go above 1,800 by the year end."

Stocks pushed higher on Monday and Tuesday, hitting above 1775 on SPX by Wednesday morning!  Then, profit-taking took place as the Fed kept the rates low.  SPX ended the week barely higher.  We wrapped up a very nice month, including +70% and +110% wins on SHLD and FSLR calls, and a +140% profit on ESI earnings play!

For the week, the Dow was up +45.27 points; SPX added +1.87 points; Nasdaq fell 21.32 points.  Gold took a fall, but, finished just above $1315/ounce.  Oil tumbled to below $95/barrel!  At the time of this writing, Asian markets were slightly down.  Let's see where the US markets closed on Friday:

SPX

On Friday, SPX added +5.1 points to close at 1761.64.  It closed just above its 10-day MA.  Its MACD stayed flat.

Nasdaq

Nasdaq climbed +2.34 points to close at 3922.04.  It closed just below its 10-day MA.  The MACD was lower.

Both SPX and Nasdaq are consolidating, closing near their respective 10-day MAs.  For the new week...

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