Markets ended Friday like they have for the third consecutive session, upon their highs, in very bullish behavior. The S&P 500 scored a sixth straight weekly gain hitting all time highs. Both the S&P 500 and Nasdaq finished just below the big round 1800 and 4000 handles. Even the Dow which we do not pay much attention to finished right below its own round 16000 figure. For the week the benchmarks acted almost in tandem with the Nasdaq gaining 1.7% and the S&P 1.6%. The Nasdaq now seems to have an insurmountable lead YTD, with a 32 to 26.2% advantage. Strong top rated groups remain the internet and aerospace sectors. FB LNKD are most likely the most well known in the internet space and both are in correction mode down 10% from their most recent 52 week highs. LNKD put in a nice showing last week gaining more than 7% recorded a bullish outside week in the process. It trades below its 50 day and a trade can be entered with a buy stop above the 238 handle, and then added to through a double bottom trigger of 253.76. Demand volume however on each move just mentioned as the stock has gained ground in just 3 of the last 10 weeks, many in subdued trade. FB is trading right at 50 day support, and just above a tight flag formation. In the aerospace group BA made a new all time high as its Dreamliner seems to resemble its stock chart, a nice flight, with some occasional turbulence. Brazilian based competitor ERJ is the polar opposite, and seems to be coming in for a hard landing, pun intended. Things in motion tend to stay in motion, and referring to the swelling number of all time highs, this action should continue. Just remember with all the bullishness in the air, be prudent and on your toes.

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