In spite of some confusion over the duality of the monthly jobs report last Friday, positive seasonality held for the first week, leaving the S&P 500 (SPY) higher by +1.1%. As compared to the last week of 2010, Emerging Markets and the US Dollar have flipped status, with the EEM prospectively oversold and the UUP overbought going into the second week of the year.  Next week also provides the markets with the start of fourth quarter earnings and a very busy economic calendar.  Have a terrific week!

Never Investment Advice

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