10/9/2011 Stock Market Review

Even folks.  Crazy week in the markets.  We started off the week with a breakdown of the range in the s&p and then 30 minutes later a full on reversal that recaptured the breakdown spot and then thrust us right back into the range we have been in the past 8 weeks.  Energy led the way this week with some huge bounces in beaten down oil/coal stocks.  In terms of the indices we were up 2% or more across the board led by the nasdaq which was up nearly 3%.  this is a key week as we are smack dab in the middle of the trading range with a declining 50dma right on top of our heads.  If we can break that it could get us another 50 points on the spx.  If we fade here then back to retest the lows we go.