Stocks shook off Dubai debt crisis and were encouraged by the unexpected drop of job less rate. The SP 500 index closed this week at 1105, up 1.7%, the Dow Jones Industrial Average increased 0.8%, and the technology heavy Nasdaq composite index gained 2.6% for the week.
In the monthly chart of the S&P 500 index below, the index is well above its trend line and the Stochastics is at 71 as of 12/1/2009. Although it does not mean we are going straight up from here but overall market trend looks pretty good.
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