Bad news everywhere, but the charts of both the Dow and the Nasdaq look bullish to me...

It still looks like the market now wants to look past all the negative news hitting it every day. More bad news did indeed hit Friday, when the Commerce Department reported retail sales fell in November for a record fifth straight month.

The market took it on the chin at first, opening in the red. But at the end of the day, the Dow was green, to the tune of almost 65 points, and the Nas up much better percentage-wise at almost 33 points.

Candlestick-wise, both the Dow and the Nas charts look bullish to me. The Dow shows a nice Hammer in a mild pullback, and the Nasdaq shows close to a Bullish Engulfing pattern.

Helping the market was the announcement from the White House that it's ready to step in and aid the ailing automakers. The market definitely wants a quick solution (or at least a "plan") to that fiasco. Remember, the market despises any kind of uncertainty.

And... I'm happy to say... I'm still finding superb trade setups in the Baffle and RSVP Play areas. Scanning Friday's best charts, I'm seeing strong moves in some of the smaller biotech stocks, for example.

Those moves may have been triggered by the fantastic news of a particular company, a tiny biotech teamed up with a well-known pharmaceutical giant to collaborate on two new cancer cure programs. The small stock was up huge, and I think it has much more upside based on the strength of that move.

I'll name that stock below for my paying Members.