Markets continued to trade in a tight range. Nevertheless, SPX managed to finish the week at a record close! Last weekend, in my Market Forecast, I wrote:

"For the new week, I think the markets will continue to consolidate. Although stocks are staying strong, I think this rally needs to breathe a little more. I think it'll be a stock-picking week."

The broader market treaded water all week, moving up-and-down in a tight range. But, on Friday, it reversed a weak open to close at a new record high! We had another nice week with 100% of the closing trades on the profit side, including an overnight +119% trade on AMZN calls:

• 07:24 | Ecstatic Plays GILD ($101.80) Sold to Close 09P103 Sep 103 put, at $4.00 +25%
• 07:40 | HappyTrading SCTY ($71.50) Sold to Close 09C70 Sep 70 calls, at $4.20 +40%
• 07:36 | Ecstatic Plays AMZN ($349.00) Sold to Close 09C340 Sep 340 calls, at $12.50 +119%
• 06:38 | Ecstatic Plays AMZN ($347.60) Sold to Close 09C340 Sep 340 calls, at $10.60 +86%
• 09:39 | HappyTrading LNKD ($227.65) Sold to Close 09C225 Sep 225 calls, at $7.25 +5%
• 07:54 | Ecstatic Plays MNST ($90.30) Sold to Close 09C87.5 Sep 88 calls, at $4.00 +43%
• 07:51 | HappyTrading LNKD ($228.00) Sold to Close 09C225 Sep 225 calls, at $7.68 +11%

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For the week, the Dow was up +38.91 points; SPX added +3.34 points; Nasdaq climbed +2.63 points. Gold took a big fall on Tuesday and closed the week around $1268/ounce. Oil also fell, ending below $93/barrel for the week. On Monday, Asian markets were mixed. China was on holiday. Let's take a look at where the US markets closed after Friday:

SPX

SPX added +10.06 to close at 2007.71, a record close!

Nasdaq

Nasdaq gained +20.61 points to close at 4582.9. It closed above its daily MAs. Its MACD was flat.

Both SPX and Nasdaq traded in a tight range last week, but, managed to close the week on a good note. For the new week...

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