What a Week!

Stocks rallied five days in a row this week, with good participation and a return to form for the big leadership names (the Amazons and the Apples).

From the Wall Street Journal:

The Dow Jones Industrial Average gained 75.91 points, or 0.7%, to 11509.09, on Friday, finishing the week with a 4.7% gain. The blue-chip index remains within striking distance of turning positive for the year.

Two positives:

Europe and the rest of the world’s central banks have decided “not to have another Lehman Brothers” with their coordinated plan to offer dollar liquidity through the end of the year while the individual countries and banks figure out the way forward.  For a really good explanation of the five potential outcomes there, check out Nomura’s take over at Pragmatic Capitalism:

5 POSSIBLE OUTCOMES FOR THE EURO CRISIS (PragCap)

Also, the Nasdaq – clearly the market-leading index – was an absolute beast this week.  The index gained 154 points or 6.5% since Monday.  According to MarketBeat that’s the biggest weekly percentage gain since the week ended July 17th 2009.

Here’s the Nasdaq 100 jumping above the 50-day SMA:

Bottom line, with the techs leading, the Europe crisis momentarily pacified and the best six-month period for the market ahead of us, it’s hard not to be encouraged by the action this week.

Now if only the economic data weren’t deteriorating and we could get some damn traction from the macro…

 

 

 

What's been said:

Discussions found on the web
  1. blazing trader review commented on Sep 28

    … [Trackback]

    […] There you can find 97974 additional Info on that Topic: thereformedbroker.com/2011/09/17/what-a-week/ […]

  2. bitcoin evolution commented on Sep 29

    … [Trackback]

    […] Find More to that Topic: thereformedbroker.com/2011/09/17/what-a-week/ […]

  3. td bank login commented on Oct 18

    … [Trackback]

    […] Info on that Topic: thereformedbroker.com/2011/09/17/what-a-week/ […]

  4. regression testing definition commented on Nov 28

    … [Trackback]

    […] Find More Information here to that Topic: thereformedbroker.com/2011/09/17/what-a-week/ […]

  5. mashreq university main website commented on Dec 14

    … [Trackback]

    […] Here you can find 34297 additional Information on that Topic: thereformedbroker.com/2011/09/17/what-a-week/ […]

  6. CI/CD commented on Jan 12

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2011/09/17/what-a-week/ […]

  7. replica bell and ross commented on Jan 28

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2011/09/17/what-a-week/ […]