The indexes added to their losses as the correction continued to take its toll on stock prices. Increased distribution furthered the case to raise cash and protect profits. Volume ticked up across the board. The S&P lost 1.1%. The NASDAQ gave up .8%. The DOW retreated by 1.7% and the NYSE composite lost 1.5%. Two reversals earlier in the week gave the appearance of an attempted rally until news from JP Morgan Chase shattered those hopes. The indexes had been able to shake off deeper losses until Friday. Two billion in trading losses from the premier bank shook wall street.

It was a discouraging week for the bulls. Such weakness so close to the resumption of an uptrend isn't an encouraging sign. Weak job data and concern over some European elections this weekend seem to have taken center stage. Distribution this week could have been identified across the board, a much different story than the prior weeks action. Even market leader and corporate darling Apple wasn't able to hold its 50 day moving average, currently 585.33.

The markets reasserted their strength this week, resuming their uptrend. The S&P gained 1.8%, closing above the 1400 level. The NASDAQ added 2.3% for the week, closing over 3000. The NYSE composite tacked on 1.6% and the DOW finished the week with a gain of 1.5%.

The indexes finished mixed for the week. The S&P gained .6%. The NASDAQ lost .4%. The NYSE composite added 1.2% and the DOW, 1.4%. Earnings continue to take center stage. For the most part, those reporting solid earnings and guidance were rewarded this week. Losses were taken for those that disappointed. Spanish debt continues to hover in the area of 6%. Higher yields add greater risk for Spain to meet their borrowing needs. This weeks auction did go well for Spain showing signs of continued demand.

The markets retreated further this week. Concerns from Spain revived European debt fears. China's economy continued to show signs of a slowdown. First quarter GDP grew at an 8.1% rate, less than the 8.9% from the prior period.

This weeks market action added further distribution to the major indexes. Each of which lost ground. The S&P lost .7%. The NASDAQ gave up .4%. The DOW lost 1.1%. The NYSE composite retreated the most, taking a 1.5% hit. It's the first of these indexes to close below the 10 week and 50 day moving averages, on a weekly basis, since the start of this rally. This leaves the health of our overall market in more of a corrective or cautionary stance.

The markets advanced again this week despite the additional distribution added to the indexes.

The indexes finished the week mixed. The S&P lost .5%. The NYSE composite and DOW both gave up 1.1%. The NASDAQ was the sole winner with a .4% gain.

The markets pressed higher this week. The S&P and DOW gained 2.4%. The NASDAQ added 2.2%. The NYSE composite finished the week with a 2.1% advance. Friday was quadruple witching where options expiration's tend to raise trade.

The markets were rattled early in the week. The indexes gained distribution in the wake of the worst two days of 2012. Concerns over the Greek debt restructuring reemerged only to dissipate by weeks end. Much of those losses have been recouped. The S&P gained .1% after a brief test of the 10 week moving average. The NASDAQ added .4%. The NYSE composite lost .3% and the DOW retreated by .4%.

The S&P 500 gained .3% closing just shy of 1370, which coincides with the May 2nd, 2011 peak. That mark was broken this week as the index reached a high of 1378. The NASDAQ was able to surpass the 3000 level. That too may become an area of resistance. The NASDAQ peaked above slightly and finished the week with a .4% advance and a close of 2976. The NYSE composite index lost .3% in higher trade. The DOW was down fractionally with a loss of only 5 points.

The markets continued their climb last week. Each of the indexes were able to make minor gains. The S&P gained .3%, closing shy of the May 2nd high of 1370. The NASDAQ tacked on .4%. The NYSE composite added .5% and the DOW gained .3%, closing slightly under the 13000 mark. News, good or bad has been taken in stride. Uncertainties around Greece haven't held the U.S. indexes back. A positive change from only a few months ago. The bullish action has been strong but a pullback or consolidation may also be warranted.

U.S. markets were closed Monday in celebration of President's day. European markets were higher in anticipation Greece would finally secure refinancing of their debt. The long awaited bailout is close to being completed allowing Greece to avoid default.

After a solid run, this market was due for some type of pull in or consolidation. Blame it on Greece or any other concerns but after weeks of advancing the market should be entitled to catch its breath. The low volume decline for all but the NASDAQ should ease some for now. Institutions didn't seem to be heading for the exits. The S&P lost .2%. The NASDAQ, .1%. The NYSE composite lost .8% and the DOW gave up .5%.

The indexes advanced in higher trade adding to recent gains. The S&P finished the week up 2.2%. The NASDAQ gained 3.2% and closed the week at 2905. The S&P has not seen this level since December 2000. The NYSE composite added 2.3% and the DOW finished the week up 1.6% at 12862. The recent high in the DOW is 12876, only 14 points from Friday's close.

The major indexes finished mixed for the week. Each traded with greater volume than last week. The S&P gained just .1%. The NASDAQ added 1.1%. The NYSEcomposite tacked on .6%. The DOW lost .5%. After four weeks of gains (3 for the DOW), the markets may be due for a breather.

I look at a lot of charts.

I usually start with the weekly's.

It gives a clearer picture.

Less noise, so to speak.

Each of the major indexes added to previous gains closing the week on a positive note. Even Friday's gap down open didn't end so bad. While each of the indexes finished in the red on Friday, they closed well off their lows.

The markets edged higher this shortened post new years week. Volume tracked lower than average for each of the major indexes while the additional gains were encouraging. The DOW gained 1.2%. The NASDAQ added 2.7%. The NYSE composite finished 1.1% higher and the S&P closed the week with a 1.6% gain. All but the NYSE composite trade above their respective 50 and 200 day moving averages. The S&P was able to clear resistance in the 1260 area closing at 1277. The next area of resistance could be 1292-1300. From there, a move to 1350 could be in the making.

First of all, a happy and healthy new year to all. With the new year brings new opportunity. May 2012 be more profitable to everyone. 2011 was a choppy year, ending mixed for the major indexes.