Market Update This week caught short traders with their pants down as the major market indexes moved higher off a Tuesday test of the short-term bottom. Three attempts of the S&P to crack 1173 to the downside held on Monday, thus fueling a major move to the upside. The big question now is where is this market headed as we approach the end of the year? Seasonally, the market's Holiday character usually has an upside bias. If we stay true to that, one would think this market has some significant upside potential in the coming month ahead. I've got some technical arguments here to support my opinion.  Remember, the trend is your friend. Every good trader knows NOT TO FIGHT THE TREND. Of course, it's far sexier to call a top or a bottom before any of your friends or colleagues do but more money is made just staying with the trend. That's the bread and butter of every good trader. With this in mind, I've got two charts to show you today that support my belief that this market is going to grind higher and another chart of an individual stock I find very compelling right now. However, let me preface this first by telling you if this market starts to become extremely volatile, there's a good chance we'll be range bound in the coming months ahead and that would negate my argument here. Click here to continue reading this weeks Market Update. What's Shakin' in the SCN Community Here's a Winning Idea: Think for Yourself Dennis Askew discusses the importance of doing your own diligence, sorting through vast amounts of economic data, and utilizing that knowledge to make common sense decisions on directing your long-term financial plan through investing. Jobs, Staffing, and Employment in 2011 We see it everyday. Unemployment is high, the economy is down. How can we use the common information and our own gut feelings to make smart, educated decisions on investing, where the markets are headed, and what sectors are poised to thrive. Broad Market Reversal Where the heck is this market headed? Chris Vermeulen gives his take on that questions and backs it up. Can the Conservative Investor Still Rely on Muni Bonds? Bonds are typically regarded as conservative investments with muni bonds having an added perk of oftentimes being tax exempt. Bonds usually comprise a portion of any healthy portfolio, but they may not be as safe as once regarded. Treatment Candidate For Critical Limb Ischemia Has ASTM Investors Excited Few sectors can compete with the volatility and the rapid declines and advances that are produced in Biotechnology, so when investors get excisted, there's reason to pay attention. The Best of the Best: Top Small Cap Sector for 2011 Bryan Murphy selects a sector that he feels will perform well in 2011. Picking the sector is half the battle. More Articles Going Against the Grain Pays Off in Volcom Share Value Cleveland BioLabs' New Orphan Drug Status May Pave Way For Higher Share Prices Should You Be Afraid of Ireland in the Long Run?  Five Biotechs That Investors Should Be Watching The Federal Reserve and the Latest Money Supply Numbers And They Never Saw it Coming: Barnes Group Are Railroads the Future? New Generation Biofuels Holdings Is Still the Same Old Song & Dance   Picks to Consider NG Picked by Christian Sanchez on 7/29/10 @ $5.98. Currently @ $14.92 (+8.94 +149.50%) BAS Picked by Max Rios on 8/16/10 @ $8.22. Currently @ $15.69 (+7.47 +90.88%)