YAHOO [BRIEFING.COM]: A breakdown in technical support caused stocks to rollover midsession, but the S&P 500 successfully fended off sellers to log its sixth straight gain, which is the best streak this year for the stock market.

Strong gains by European markets and renewed weakness in the U.S. dollar helped stocks start the session on strong footing and the S&P 500 climb above its 2009 closing high, which had represented significant resistance late last week.

Early gains were broad-based, but energy stocks were easily the best performers for the entire session. The sector settled with a 1.2% gain as oil and gas drillers (+2.5%) and oil and gas equipment stocks (+1.9%) responded to a 1.9% gain in crude oil prices, which closed pit trade at $73.15 per barrel.

Financial stocks lagged for most of the session and even dipped into negative territory in the early going. However, the sector was able to regroup and finish at a session high with a 0.9% gain, second only to the energy sector.

Within the financial sector, diversified banks (+2.8%) showed particular strength. Their gains came amid comments from widely followed analyst Dick Bove during a CNBC interview that Wells Fargo (WFC 30.28, +1.07) will most likely provide a positive surprise for the latest earnings reporting season. Bove also said that Morgan Stanley (MS 31.76, -0.33) and Goldman Sachs (GS 190.15, +0.85) should do pretty well, but 60% of regional banks will probably post losses this quarter and next quarter.

Despite strength in the broader market, the S&P 500 could not push through its 2009 intraday high, which stands near the 1080 level. Stocks traded sideways just below that technical hurdle, but a sudden fit of selling pressure soon snowballed and dropped the S&P 500 way back to neutral line, where it garnered support and reclaimed gains into the close.

Meanwhile, the Dow finished with a modest gain, but the Nasdaq settled with a fractional loss.

Trading volume was paltry this session. Not even 950 million shares exchanged hands on the NYSE this session. That's the lowest level two months.

Treasury markets reopen Tuesday. They were closed this session for Columbus Day.

Advancing Sectors: Energy (+1.2%), Financials (+0.9%), Utilities (+0.5%), Health Care (+0.4%), Tech (+0.3%), Materials (+0.3%), Consumer Staples (+0.2%), Consumer Discretionary (+0.1%)
Declining Sectors: Telecom (-0.1%), Industrials (-0.1%)DJ30 +20.86 NASDAQ -0.14 NQ100 +0.1% R2K -0.2% SP400 +0.1% SP500 +4.70 NASDAQ Adv/Vol/Dec 1221/1.79 bln/1438 NYSE Adv/Vol/Dec 1640/946 mln/1352