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In tonight's update, Vince covers:
1) U.S. equities closed mostly higher on Friday and finished the week with their biggest weekly gain since 2013. The Dow Jones Industrial Average gained 19.01 points, the S&P 500 added 1.02 points while the Nasdaq 100 closed lower by 16.97 points and the Russell 2000 finished higher by 6.35 points.
2) Bonds made up a bit of lost ground last week but the overall picture for treasuries remains bearish. Gold Futures closed slightly lower while Crude Oil Futures finished the week on a positive note and look ready for more upside. The U.S. dollar traded higher on Friday and has the potential of completing a double bottom formation.
3) Although this will be a shortened trading week and a fairly quiet week for economic news reports, it will be a very important week for the U.S. Equity indexes as they face a major test of their 20-period simple moving average.
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