Market Summary

As can be seen in the composite image below of the ETF SPY all of the time frames have a green background indicating bullish sentiment. The market sentiment clearly is a reflection of the current belief of the state of the economy. The state of the economy is reflected in consumer confidence and the current unemployment. Friday's release of bullish unemployment numbers helped move the markets higher. Bullish breakouts higher can be seen in the Financial sector XLF, Home Builders XHB, and Broker Dealers index $XBD all reflecting bullish sentiment. The Retail ETF XRT and the Retail Holders index RTH both show similar bullish patterns indicating strong consumer confidence. Click on image to enlarge.

For the week the Russel 2000 small cap index did the best up about 6% followed by the emerging market ETF EEM up a little over 5%. When the riskier indexes of the market do well that is a bullish indicator. On the downside the UNG did the worst followed by the UUP which was only slightly down but helped propel the markets higher. Note the YTD column and the indexes in the green. Click on table to enlarge.