As I had predicted in the weekly chart analysis, I felt there would be follow through on Friday 11/21’s move.  Obama continued his proactive planning which instilled market confidence as he filled out his administration positions in anticipation of moving quickly to solve our economic woes when he’s up to bat in January.

Citi got bailout treatment on Monday as the DOW closed positive by 397 points. 

Tuesday’s action marked the third day in a row to the upside.  The DOW posted a small gain of 36 points amidst a GDP downward revision for the Third Quarter.   Consumer confidence rose to brighten the picture.

Wednesday was highlighted by a low volume move of 247 DOW points despite a plethora of ugly economic reports.  Consumer spending was down and durable goods suffered a fall as Initial Jobs Claims were up. 

Thursday, we all rested and stuffed ourselves with turkey and gave thanks.

We ended the week with a shortened session as the DOW closed up 102 points.  The last five trading sessions have been positive.  The DOW hit a bottom of 7449 last Friday and has gained 1380 from that low to the close this Friday.  The week over week closes on the indexes were all positive with the DOW up 786, the SPX better by 96 and the COMPQ north by 154.

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