The big news on Friday was Amazon’s intended purchase of Whole Foods which sent both stocks considerably higher. The rally in Amazon Stock certainly assisted my trades as the stock closed at $987.71 and all my positions expired. A very nice move for Amazon. Intraday the stock reached $999.75.
Meanwhile Whole Foods Stock closed up 29% at $42.68 for an incredible move and the best closing high in 52 weeks. Intraday the stock reached $43.45 a new 52 week high. Rumors over the weekend are that this is not a “done deal” and there could be a bidding war for Whole Foods. That should make the upcoming week interesting, to say the least.
The news was enough to help offset negative sentiment as the S&P squeaked out a flat but positive close, the Dow Jones closed up 24.38 points and the NASDAQ managed to trim its losses to just 13.74 points.
Here is the outlook for Mon Jun 19 2017 for the S&P and NASDAQ indexes as seen from the Market Breadth Indicator readings from Friday June 16 as well as the weekly review for last week.
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Advance Decline Numbers Outlook For June 19 2017
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