Another series of closely watched resistance levels fell by the wayside this week, as forward momentum and a smattering of positive fundamental developments pushed stock proxies higher still. For the week, the Dow Jones Industrial Average rose 2.4%, eclipsing 9000 for the first time since August 2002 on Wednesday . The S&P 500 surpassed its August high of 965 on Monday , before closing the week up 2.5%. The Nasdaq Composite rallied 2% for the week after besting 1600 on Tuesday for the first time since May 31, 2002. Each of those levels -- Dow 9000, S&P 965, Nasdaq 1600 -- had been considered by technicians to be likely points for the rally to pause, at least temporarily. But as with many resistance points since the mid-March lows, those levels proved only to be way stations on the path to higher prices. The week's most dramatic action occurred on Monday and Friday. During both sessions, major averages soared early then saw gains pared dramatically on sharply higher volume. On Friday, the Dow rose 0.2% to 9062.69 but closed well off its early peak of 9215.88. The S&P 500 shed 0.2% to 987.76 vs. its apex of 1007.69 while the Comp slid 1.1% to 1627.42 after trading as high as 1684.10. In Big Board trading, more than 1.8 billion shares changed hands and nearly 3 billion traded in over-the-counter activity. There was profit-taking in previously red-hot sectors such as biotech, semiconductors, Internet, and homebuilders on Friday. Proxies for each of those groups ended lower Friday -- by between 1.6% and 3.4% -- but for the week, the Amex Biotech Index ended up 7.4%, while the Philadelphia Stock Exchange Semiconductor Index, the Philadelphia Stock Exchange/TheStreet.com Internet Index and the S&P Homebuilding Index each rallied between 1.5% to 1.8%. Friday's intraday reversal may augur a short-term peak, but many observers said the same after Monday's early rally and afternoon pullback. None of the big reversal days in recent months produced major follow-through selling, as RealMoney.com contributor James De Porre recalled. "We'd have very quick recoveries as dip-buyers wasted no time in buying weakness."