A nice reprieve from the daily surge in oil. A nice rebound for the Dow from the recent “bear” mentality.  In general, the investor mindset simply didn’t seem so dire as in the past few weeks/months.  Bad earnings somehow didn’t seem so bad.  Negative forecasts somehow didn’t seem so negative. Concerning comments by the Fed somehow didn’t seem so concerning.  Weak economic releases somehow didn’t seem so weak.  Investors departed for the weekend with a newfound confidence (maybe a bit strong) or at least they did not experience the traditional depression.  A new trend or simply a short-term aberration?  Stay tuned.

For the full report, please find And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended July 18, 2008.

Coming up this week:  Leading Eco Indicators (Monday), Fed Beige Book (Wednesday), Existing Home Sales (Thursday), Durable Goods Orders (Friday), New Home Sales (Friday)

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