Rallies Resume
After a relatively quiet week markets finished strong on Friday. This helped push markets out of their trading ranges for the last few days. Volume was subdued but this won't matter if there is some follow through on Monday. The S&P has broken from its narrow consolidation which had bumped along just below the previous high of 2,400. Current action looks very healthy with technicals supporting price action; a loss of 2,380 would push things back into a consolidation, but not enough to send long-term holders running.