Woohoo! What a week for the Dow Jones Industrial Average!

After what looked like a free-fall last week, it looks like the bulls have been fighting back and we are on the up and ups again toward the end of the week. Of course, this uptrend didn’t start until about mid-day Tuesday, so I hope you guys weren’t sweating too much on Monday.

Some interesting observations on this weekly chart. One, we peaked a little below 17800 without ever really breaking it. That’s ok. I would say next week we should be able to clear it completely and be well on our way to break 18000 again maybe not next week, but we’ll be primed for the week after that. Good news for Dow Jones Fans! I’m very optimistic that this will happen. And why? That brings us to observation number two: Greece is becoming a distant memory. You see, friends, the collapse of Greece’s economy was confusing for a lot of people, but luckily, with the way the current trends of news cycles goes, once we can ignore issues about Greece (like we usually do), we can be back on track.

A caveat: the news this weekend that Puerto Rico is going into default will probably put a quick drop in Monday’s chart. But I doubt that will create the same kind of uncertainty that Greece and the Euro is currently facing.

All in all, a great week, and a wonderful return to form. Nice close, everyone!