The benchmark Standard & Poor's 500 index ended at a five-year high on Friday, lifted by reports showing employers kept up a steady pace of hiring workers and the vast services sector expanded at a brisk rate.

The gains on the S&P 500 pushed the index to its highest close since December 2007 and its biggest weekly gain since December 2011.

Most of the gains came early in the holiday-shortened week, including the largest one-day rise for the index in more than a year on Wednesday after politicians struck a deal to avert the "fiscal cliff."

The Dow Jones industrial average gained 43.85 points, or 0.33 percent, to 13,435.21. The Standard & Poor's 500 Index rose 7.10 points, or 0.49 percent, to 1,466.47. The Nasdaq Composite Index edged up 1.09 points, or 0.04 percent, to 3,101.66.

A drop in Apple Inc shares of 2.6 percent to $528.36 kept pressure on the Nasdaq.

For the week, the S&P gained 4.6 percent, the Dow rose 3.8 percent and the Nasdaq jumped 4.8 percent to post their largest weekly percentage gains in more than a year. (commentary & photo courtesy of Reuters)

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RSI has cone up with several interesting picks this week. First is the clean energy fund PBW. Look at the chart and it shows a possible end to a two year drop. Maybe it is recovering and reversing its long slide.

Next is the Vietnam fund that also is showing a strong breakout. Money is flowing into this fund too.

Lastly there is the BRIC (Brazil, Russia, India, and China) fund, BKF, which invests in these emerging markets. It too is showing its strength and is an excellent diversified fund.

With some trepidation, I will be possibly adding some ideas to the RSI portfolio. See you next weekend.