By Kate Gibson

The S&P 500 Index last week accomplished a first in the current bull market, finishing higher on all five days, a Monday-through-Friday feat unseen in almost three years.

But market experts say the focus this week will be on whether the broad-market gauge can break out above overhead resistance of 1,070 to 1,080 after four failed attempts.

On Monday, energy and information technology shares fronted the gains as the S&P (SPX) rose 6.36 points at 1,077.85. The index earlier hit an intraday high of 1,080.02, nearly matching its prior intraday high of 1,080.15 reached on Sept. 23.

"The S&P has expended a lot of energy in its four previous attempts to breach its overhead resistance zone. If it fails this time we could be in for the 'October Ouch,'" said Jeffrey Saut, equities analyst at Raymond James & Associates Inc.

"This week all eyes will be focused on the S&P 500's Sept. 22 bull market closing high of 1,071.66. While many pundits think bettering that peak is a fete de compli, we are not so certain," said Saut in a research note.

The Dow Jones Industrial Average (DJI) added 44.06 points to 9,909.00. The Nasdaq Composite Index (RIXF) climbed 10.88 points to 2,150.16.

Buyer beware

Saut recommends investors consider buying the following "yield-oriented" shares: Allstate Corp. (ALL), Automatic Data Processing Inc. (ADP), Chevron Corp. (CVX), Digital Realty Trust Inc. (DLR), Republic Services Inc. (RSG) and INergy LP (NRGY).

Also on his recommended list: NTELO Holding Corp. (NTLS), Teekay LNG Partners LP (TGP) and Teekay Offshore Partners LP (TOO).

"Of course we would prefer to buy them on weakness, but then the equity markets are not operated for our benefit," Saut added.