Weekly Market Report: Bulls Lead the Way

by: Tate Dwinnell

What a difference a week makes. With a light economic calendar last week and earnings not yet in full force, I didn't expect the market to make any significant moves. However, a big plunge in crude helped fuel a break out from a 6 week consolidation in the Nasdaq as big money moved from oil and other commodities into technology related areas. The bulls clearly remain in charge with key support areas still intact to begin the new year, but with earnings season beginning to ramp up this week and inflation data on Wednesday and Thursday, expect some volatile moves ahead.

::: Best/Worst Performers :::

Top 10 Performing Industries For the Week
1. Resorts & Casinos: 8.05%
2. Aluminum: 7.75%
3. Medical Practitioners: 7.35%
4. Home Furnishing Stores: 7.00%
5. Investment Brokerage: 6.80%
6. Personal Computers: 6.80%
7. Major Airlines: 6.45%
8. Broadcasting - Radio: 5.90%
9. Air Services - Other: 5.75%
10. Apparel Stores: 5.70%

Top 10 Worst Performing Industries For the Week
1. Major Integrated Oil & GAs: -1.50%
2. Music & Video Stores: -1.25%
3. Manufactured Housing: -1.05%
4. Long Distance Carriers: -1.00%
5. Diversified Communications Services: -.80%
6. Photographic Equipment & Services: -.75%
7. Farm Products: -.70%
8. Oil & Gas Refining & Marketing: -.60%
9. Electric Utilities: -.55%
10. Mortgage Investment: -.45%

Top 5 Best Performing ETFs For the Week
1. Ishares Broker Dealers (NYSEARCA:IAI) 6.00%
2. Templeton Dragon Fund (NYSE:TDF) 5.95%
3. Turkish Invest Fund (NYSE:TKF) 5.00%
4. Ishares Silver (NYSEARCA:SLV) 4.95%
5. Ishares Realty (NYSEARCA:ICF) 4.85%

Worst 5 Performing ETF's
1. US Oil Fund (NYSEARCA:USO) -6.70%
2. HLDRS Utilities (NYSEARCA:UTH) -3.85%
3. Japan Small Cap (NYSE:JOF) -1.95%
4. Latin America Discovery Fund (NYSE:LDF) -1.80%
5. Ishares Commodity (NYSEARCA:GSG) -1.60%

::: IPOs Worth Watching for This Week :::

The IPO Calendar is typically quiet at the start of a new year - no IPOs worth watching again for this week.

::: Upcoming Economic Reports (1/15/07- 1/19/07) :::

Monday: Market Closed
Tuesday: None
Wednesday: PPI, Capacity Utilization, Industrial Production, Fed Beige Book, Crude Inventories
Thursday: CPI, Building Permits, Housing Starts, Initial Job Claims, Philly Fed, Leading Indicators
Friday: Consumer Sentiment (prelim)

::: Notable Upcoming Earnings Reports I'll Be Watching This Week :::

Tuesday: Ameritrade (NASDAQ:AMTD), Intel (NASDAQ:INTC), New Oriental Education (NYSE:EDU)
Wednesday: Apple (NASDAQ:AAPL), Lennar Corp (NYSE:LEN), Southwest Airlines (NYSE:LUV), Witpro (NYSE:WIT)
Thursday: Meridian Biosciences (NASDAQ:VIVO)
Friday: Citigroup (NYSE:C), General Electric (NYSE:GE), Motorola (MOT), Satyam Computer (SAY), Schlumberger (NYSE:SLB)

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