This week of trading was once again categorized by low volume and solid technicals. The S&P 500 broke through resistance at the 1290 level and managed to hold the uptrend line, at least temporarily.

In the longer-term, the picture is even brighter. The S&P 500 blasted through both the 50-week moving average and its downtrend line. From the looks of it, it may have some more room to run.

VIX – The volatility index has continued to fall in the new year. Of course, it is prone to big unexpected moves so don’t get complacent.

The US Dollar has ripped through resistance at the 81 level. It might be due for a drawback, though.

The Euro has inversely fallen on hard times, yet again. The 128 level was breached on the downside, so now it becomes resistance if and when the Euro attempts a comeback.

France may have lost its AAA rating but the stock market appears to be trying to make a bottom.

Financials have led the market higher in the new year. Strange but true.