One week ago I said that "Technically, the S&P 500 held its 20 day moving average (a good sign) but the bulls will need to really circle the wagons in the week to come." As we saw, they did exactly that and more.

For the week the Dow rallied +1.82%, the S&P 500 +2.59%, Nasdaq+3.35%, and the Russell 2000 +2.92%.

The top performing sectors this week were heavy construction, building materials, data storage, metals & minerals, gaming, steel & iron, oil & gas drilling, semiconductors, copper, shipping, mortgage investment, and homebuilders. The worst performers were medical practitioners, regional banks, consumer services, recreational goods, and water utilities.

Leading up to Memorial Holiday weekend, investors will sort through reports on leading indicators, confidence, FOMC minutes, jobless claims and existing home sales. One week from today, I'll also post the Q&A with Harry Domash. It's going to be great!