Market Summary

As can be seen from the chart below the market gapped lower Tuesday and spent the rest of the week climbing back up to where it started the week on Monday leaving the market relatively flat for the week but with an upward bias since the Tuesday low and closing above the 20 day moving average. The market is still bullish however it needs to get above a downtrend line of the recent tops. Good news is likely to follow, such as some resolution of uncertainty in Irish economic problems, and be given the credit with driving the market higher. We will just have to wait and see. Click on chart to enlarge.

Gold and the small cap index continue to lead for the year and natural gas was the big leader for the week up 7.65%. Click on table to enlarge.