Last week, the market reversed from declining about 5% from a high achieved earlier in the month and rallied about 4% off the bottom. Oil fell about 50% from the high reached earlier in the year and rallied off the bottom last week. The Oil and Gas sector was up about 10% last week and was the best performing sector in the S&P 500. The breadth of the market had been very negative, but the advanced/decline turned strongly positive last week with 2,555 advancing and 703 declining.

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PVG Market in a Minute – December 23, 2014