Will the Bulls’ Take the Reins This Week?

On Friday, markets were encouraged by the happenings inItalyas news spread of
the probable resignation of Prime Minister Silvio Berlusconi and the formation
of a new government. For the moment, at least, the threat of European debt
contagion was put on the back burner and the markets rallied. The Dow Jones
Industrial Average gained 2.19%, the S&P 500 rose 1.85%, and the Nasdaq was up
2.04%. On the NYSE, gainers outnumbered decliners by 6-to-1, and on the Nasdaq,
advancers were ahead by 3.6-to-1. Volume on both exchanges was lower than normal
due to the banks closing for Veterans Day. The NYSE traded 762 million shares
and the Nasdaq traded 419 million shares. Click to Enlarge On Thursday, we
highlighted the trading ranges for each of the major indices: Dow 11,650 to
12,200 S&P 500 1,220 to 1,275 Nasdaq 2,600 to 2,725