The market finished on a high this week gaining 133 points or 2.5% to close out the week at 5503.
We are once again approaching the short-term high of 5520, which has for the past three months limited the upside of the market.
There was a good performance for the newly structure Westfield Group.
We expect retail sales to stay low for now as the economy continues to head towards a bottom.
All sectors were up except for Health Care, Utilities and Property Trusts which all moved sideways. This indicates that the Bulls are back and serious in the market place.
We failed to see the pull back expected in May and June and July is starting strong.
Myer's share price fell to $2.00 a week ago but has since rebounded 10% over the week. This indicates investors are once again taking a long-term view.
The GFC started back in October 2007 and is coming up to it 7 year anniversary. It toped at 6800 in 2007 and if history is any guide we can expect to see the market back to this level in the next 3 years.