A crazy week of ups and downs. Bulls took the honors by the weeks close, but what had the Stockcharters to say about it? Joe Reed summarizes the week here: He sees resistance in the 1,530-1,540 range for the S&P: With a breakout in crude oil prices: Ted Burge has a 30-min Qs chart which shows a solid hold of support at $47.65: with an ascending triple top breakout using the average true range point-n-figure chart: It is a tale of two cities for the Ultra Q Pro shares fund (upside target of $108.57): and Ultra Q Short fund (downside target of $42.00): Matthew Frailey has a good chart showing the 30-year Treasury bond price - a major test of secular support is at hand: with the break of 10-month resistance in the 10-year Treasury note yield clearly evident: He has an interesting EWT wave count for the Dow - has a wave 5 completed? I haven't heard of the 20-day MA been used in this way for a wave count. Similar count for the Nasdaq: and Nasdaq 100: Mitchell Meana has gone for

Another day of across the board buying for the markets to erase much of the prior weeks selling pressure. Volume was a little lighter than yesterday but the tone as set by the Trade Ideas scan was firm - if off somewhat from yesterday's stellar performance; a top-8 pick list in 4 minutes and the "20-hit" list in 20 minutes . The next session or two may be quiet as bulls take their foot off the pedal and bears lick their wounds. If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. Trade Ideas

The market has held up well in the face of rising yields. Part of the reason could be attributed to what Charles Kirk said here: So far, I personally think stocks have been holding up pretty well though any weakness following the rallies we've seen over the past few months is going to look a lot worse to our virgin eyes. As you know, I like to see a more substantial fallout (in fact a few or more week's worth so I can have better prices to work with). Whether the market will change its stripes and cooperate with that plan is not yet known. Everyone's wants the 'big' correction, but money on the sidelines is money ready to jump in and push the markets even higher. No one wants to be holding the can once the music stops - but it hurts to be out and see the market rally as well as it has, enough so to keep the sideline money trickling in. The Trade Ideas picked up the pace from yesterday with a top-8 list covered in 2 minutes and a "20-appearance" list cook

Small caps slice through the 50-day MA. There could be some attempt by bulls to salvage 820 - but will it be able to regain the 50-day MA? The Nasdaq has been peppered with bearish candlesticks on bearish volume. Only the 50-day MA stands between it and a move to the 200-day MA: Sellers have taken the S&P by the scruff of the neck. A second test of the 50-day MA on such short notice is not good news for bulls: Given small caps undercut its 50-day MA I suspect the other indices will do likewise. The summer decline should see tests of respective 200-day MAs and from there much will depend on the state of market internals (such as the Nasdaq Summation Index, Bullish percents, and % Stocks above 50-day / 200-day MAs) if a sizable bounce was to materialize. Small caps

The last six plays have all closed for losses, turning May and June into disappointing months. However, the most recent loss from Netlist ( NLST ) was unfortunately the greatest. It is unclear as to whether the low of the day was $2.81 or $3.00 - but the point is mute given Collective2 has registered it as a stop sale. The 2,000 share position closed for an unwelcome -$1,039 ( -15% ) loss. This is the third play of 117 to register a loss greater than $1,000. Two positions remain, bringing the equity exposure down to 20%. Cumulative losses for the last six picks stands at -$2,760 with +$2,284 held in unrealized gain. Collective2

Monday saw the completion of the short term Fibonacci retracements (the upper end of the 38-62% range). Tuesday was a return to the prior selling, although the Trade Ideas scan was not as much of a washout as the day would initially suggest. The top eight most recent picks were slow to get picked up, with a time span of 1 hour and 50 minutes . But there was a full complement of 8 stocks making 20 appearances or more on the scan - although they covered the full day: If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. Trade Ideas

A busy week for the markets - what had the Stockcharters got to say about it? Dr. Joe opens proceedings. He gave 4 reasons for the selling in the markets: 1. As you know, the stock market was way overdue for a correction of some kind, so that's what we're having now. (No doubt the bull is still intact for now) 2. Bernanke's comments this week had a negative influence. 3. Price of oil has been going back up and of course gasoline zooming. 4. Big Jump in Interest paid on long term treasuries - Over FIVE percent now. This means more money is going into bonds and less in stocks. He is hinting towards Gold (although it closed the week down): And has Transports at a potential Fibonacci support level: The Dow also showing room for further upside as the Williams indicator works itself off oversold conditions: Ted Burge leads with the Semiconductor index and its move from support to resistance (as defined by the 2 moving averages): Although the Qs finished Friday above $46.78 supp