Click here for the Weekly Wrap by Briefing.com.
Bottom Line: U.S. stocks finished moderately higher last week in another win for the bulls. It was the fourth weekly rise for the S&P 500 in 5 weeks. Gains were especially frustrating for the bears considering the decline in the dollar, rising energy prices and worries over inflation. Small-caps again outperformed as the Russell 2000 hit another ALL-TIME high and breadth was very healthy. Commodity-related stocks were the top-performers for the week, led by steel and oil service companies. Moreover, the AAII % Bulls fell 22.81% to 49.48%, which is big positive considering recent complacency. While perpetually negative pundits and analysts paint a bleak picture for U.S. stocks on inflation and profit fears, the overall technical picture of the market appears the healthiest to me since 1995.
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