Off to a good start for 2010

So the New Year started off with a bang!

The markets continued to show tremendous strength during the first trading week of 2010.

The Dow opened the the week at 10,430 and never looked back, closing up 1.8% at 10,618!

The S&P 500 was up 2.7% for the week and closed at 1144.

Some of the sectors were absolutely on fire!

Steel stocks were on a roll and stocks like X, AKS, STLD, and NUE all had a big  week.

SLX, the Market Vector Steel ETF, finished up almost 10% for the week.

Energy and Oil stocks also continued to rise with stocks like BHI, DO, RIG,and APC having great weeks.

OIH was up over 11% for the week while XLE finished up almost 6%.

The heavily watched financial and home builder sectors also show some very nice upside moves.

The home builders had some great swing trade set ups.

XHB closed up over 7% for the week after breaking out from a nice pattern on the daily chart.

PHM, LEN, DHI and MTH all finished the week up nicely.

Swing traders should have capitalized on the financials as GS, JPM , and WFC all had BIG weeks after breaking their respective DOWN TREND lines.

Casinos, Airlines and Solar stocks also had a great week

Some of the other sectors, however did not fare very well during this strong week in the market.

The retail sector had a weak showing with a few exceptions like RL and BBBY.

The Real Estate sector also had a weak showing with IYR only up a tad over break even for the week.

There were plenty of opportunities for Swing Traders to profit from last weeks action and we hope you were able to do just that!

We look forward to see what next week brings and Good Trading to you!

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