Market Summary

It was a very bullish week in the market as seen in the image below. It was still however a week with a lower high and lower low than the week before. If this last weeks low is broken to the downside that would be very bearish. Unemployment figures were released showing unemployment standing at 10.2%. That number is expected to rise by some analyst though it is considered a lagging indicator of the recovery of the economy. Short term and long term the sentiment is bullish. Click on image to enlarge.

The table below shows that China FXI lead the pack to the upside up nearly 6% last week followed by the Emerging Market EEM up 5.5%. Gold also was a big winner this last week breaking the $1100.00 per ounce level intraday on Friday at $1101.40. Click on table to enlarge.