Last weekend, in my Market Forecast, I wrote:

"For the new week, I think the selling pressure is increasing, especially with the Fed meeting on Tuesday and Wednesday. SPX's initial support is between 1980 and 1970. 1950 should also see some support. Nasdaq still seems strong. 4500 should provide a solid support."

Indeed, markets came quickly down on Monday and tested those support levels. SPX hit 1980 on Monday, and buyers started to trickle back in. Nasdaq came down to test 4500 on Tuesday morning, and buyers started to come back in. On Wednesday, buyers drove the markest higher after the Fed promised to keep the rates low for "considerable time". On Friday morning, the Dow and SPX made new all-time highs and we saw some profit-taking before the weekend.

We did pretty well for the week, starting with CMG puts. During the week, we scored an overnight +142% profit on NUE calls. Our gamble on GOOG puts, however, didn't work out. Here are the closed trades for the week:

• 06:45 | HappyTrading TSL ($15.00) Sold to Close 10C13 Oct 13 calls, at $2.12 +49%
• 11:53 | HappyTrading GMCR ($135.35) Sold to Close 10C130 Oct 130 calls, at $7.60 +30%
• 06:41 | Ecstatic Plays NUE ($58.50) Sold to Close 10C55 Oct 55 calls, at $3.71 +142%
• 07:14 | HappyTrading PAY ($37.27) Sold to Close 09C36 Sep 36 calls, at $1.45 +45%
• 08:33 | Ecstatic Plays CMG ($650.60) Sold to Close 09P655 Sep 655 put, at $9.50 +51%
• 07:04 | Ecstatic Plays CMG ($655.00) Sold to Close 09P660 Sep 660 put, at $10.00 +33%

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For the week, the Dow closed up +292.23 points; SPX added +24.86 points; Nasdaq climbed just +12.19 points. Gold fell again, closing around $1215/ounce. Oil was basically unchanged at $92/barrel. At the time of this writing, Asian markets were sliding. US markets closed at new all-time highs last week. Let's take a look:

SPX

SPX added 0.96 point to close at 2010.4. Its MACD and daily MAs were slightly up.

Nasdaq

Nasdaq fell 13.64 points to close at 4579.79. Its daily MAs and MACD were flat.

Both SPX and Nasdaq managed to close above their daily MAs. Although there was a bit of pullback on Friday, SPX still closed at a new weekly closing high. For the new week...

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