Happy Thanksgiving...What a Great Week

DJIA + 102.43, +1.17% SP500 + 8.56, +0.96% NASDAQ Comp. + 3.47, +0.23% Russell 2000 + 4.28, +0.91% Exchange NYSE NASD Advancing 2,267 1,787 Declining 1,133 911 Oil $54.43 -$0.01 Gold $816.20 +$7.70 SOX 198.24 -3.06 VIX 55.28 +0.36 Strongest Sectors: XLF +2.51%...XLI +2.17%...XLU +1.76% Weakest Sectors: XLE -1.60%...XLK +0.13%...XLB +0.43% Sector Watch Up Trending: Sideways: XLE, XLP, XLU Down Trending: XLF, XLY, XLV, XLI, XLB, XLK Friday was a holiday shortened trading day and trading volume was light. The broad indices moved up for the fifth straight day producing the one of the largest weekly gains for 2008: Weekly Gain ending Nov. 28, 2008 DJIA +9.7% SPX +12.0% Nasdq +10.9% RUT +16.5% For some traders this past week could represent an entire year's worth of gain. While a pull back in the first week of December is not out of the question, the strength of stocks this past week is indeed making the past 7 weeks since Oct. 10 look like consolidating basing action and emphasizes the need for traders to stay focused on and trade the short-term trend, whether that trend is up or down. Index Commentary A bullish engulfing pattern on the DJIA weekly chart. (click image to enlarge) A bullish engulfing pattern on the SPX weekly. (click image to enlarge) A bullish engulfing pattern on the Nasdaq weekly. (click image to enlarge) A bullish engulfing patten on the RUT weekly. (click image to enlarge) Stocks to Watch on Monday Leading Stocks: Holding Above 30 DMA TEVA…AXYS…AYE…CL…DV…EZPW…MMM…PCLN…PPD…ANSS…ASIA…BAP…CBST…DLTR…ESI…FLR…FSTR…PRGO…SHW…TKC…WMS…AME…JCOM…JEC…NOV…AOB…ATK…CHTT…CTSH…DGIT…FLIR…JW.A…MIG...MTD…OSIP…PCP…PCR…RIO…SINA…SOHU…SWN…VIVO…VMI Moving Above 30 DMA AFAM…AGN…B…ESRX…IRIS…LAYN…NIHD…RTN…SNA…WAB (click image to enlarge) ProphetCharts Moving Below 30 DMA AMX…BCR…CERN…CHU…GILD…HAS…LFC…PSSI…RCI…URBN Staying Below 30 DMA MYGN…GIS Friday’s Action Moving Up: MON, GS, AEM, PCLN, STRA, LDK, MER, INFY, LAMR, ONXX, AGU, MOS, SINA, NUE, ZION, KBE Moving Down: BIDU, FSLR, DECK, AMZN, CNX, MEE, BTU, BRCM Intermediate Term Market Trend: Neutral – DJIA, SPX, Down – Nasdaq, RUT Short Term Market Trend: Up