In this week's video, I notes that semiconductor and financial stocks are not rallying, but the slack is being more than made up by biotech, Internet and energy sector stocks, which is keeping the bears in check.

To watch the video, click here.

Peter Reznicek is the Chief Equity Strategist and a principal of the Prana Fund, a domestic hedge fund, and ShadowTrader, a subsidiary of thinkorswim which provides coaching and education to its clients on both intraday and swing trading of equities. For a free trial to the full version of The Big Picture or to learn about ShadowTrader's other services, visit shadowtrader.net or send an email to preznicek@shadowtrader.net.