Weekly Digest - Week of 12/13/10

Market Performance

Sector Performance

Another up week for the markets making it 3 out of 4 weeks to be positive.  Market moved up for most of the week having their big down day on Wednesday.  Markets quickly recovered and continued to push higher for the rest of the week.  Bulls firmly held the 1227 price level and are now aimed at the 1246 level.  Market is currently finding some resistance at this level, but is consolidating nicely here.  Poor bears are still feeling the pains of only small moves in their favor before the market turns back around.  As we can see it wasn't a bull week for everyone as the Financial sector took the biggest hit.  This goes to show that this market has a place for everyone.

Took a position in CX this week with a break of their inverse head and shoulders and downward channel.  Still in this position as it is consolidating near the breakout level.  Also still in SYK from last week since it has been showing good strength the last couple of days.