Hello MarketClub members everywhere. After a volatile week, the market seems to have resumed its upward path. The major indexes are finishing up the week on a strong note. While the dollar has suffered, it's worst week in a year trading as low as $97 today, and crude oil is once again above $50 a barrel.
The Trade Triangles did exit out of our Alibaba trade profiting $9.45 (+9%) on 5/18/17. This exit was brought on by a earnings miss in the early morning hours before the market opened. BABA missed earnings, reporting, and EPS of .64 vs. the estimates of .66. However, they did report a 60% increase in revenue. I believe that BABA has room to move higher and will tell you how to re-enter the trade is you were stopped out like I was.
Key levels to watch next week:
S&P 500 (CME:SP500): 2,405.77
Dow (INDEX:DJI): 21,046.85
NASDAQ (NASDAQ:COMP): 5,996.81
Gold (NYMEX:GC.M17.E): 1,272.40
Crude Oil (NYMEX:CL.N17.E): 48.37
U.S. Dollar (NYBOT:DX.M17.E): 99.76