What started off as an equity sell-off, quickly flip-sided, as investors took advantage of the lower levels, driving all the tradable assets higher. The equity market experienced a large drop at the beginning of the week as stocks around the globe experienced selling pressure, following Japan’s worse than expected GDP figure. Even though bears again recited their call for a significant retracement, bulls held a line in the sand buying stocks from leading sectors to help push the indices higher. The S&P 500 index finished up 21.9 points or 2.2% at 1026, above prior resistance. The leader of the week was the Philadelphia bank index, moving higher by 2.84%, pulling the broader market to higher ground.  When taking a glance at the chart below, one can see that this sector known for leading the markets higher during the early stages of an economic recovery, found support during the week on the chart’s neckline, only to climb to higher ground.