A week of reporting and we put on four lousy points but the fact we didn't lose any might be a noteworthy sign. Let's keep it all in perspective. Since January 16, when we saw the year's low of 5267.40, our market has slammed on 614 points (or 11.6%)! It definitely is time for the market to take a breather and that ride up is a big reward for those who backed my positivity and believed in my "buy the dips" recommendation.
That said, it wouldn't surprise me to see some resistance, if some shock developments come from Europe via the Greek debt bailout negotiations. So far, however, the Europeans seem to be handling it all well, with their shares hitting a seven-year high during the session on Thursday, though it ended a tad lower by the close. Even better, from the great omen department, the German Dax is in all-time high territory, rising 40 points on Thursday to 11,011.94, even as the Greeks look like they could do something that could spook the market, such as leaving the Euro zone!
This all comes as some surprisingly good economic data has come from some of the more worrying economies this week. More on that when I get into my "likes for the week."