For Monday,
There are some bad numbers out there that are going to keep the bulls and the bears arguing for some time. While the governments stimulus package has hopefuls buying, reality for reports will keep the markets grounded -
Be very aware of UPCOMING REPORTS - Housing Data, Consumer Confidence and Credit, and Unemployment numbers are going to be a sea-anchor to our "recovering" economy.
I think the emini S&P market will rally leading up to the Fed announcement and another rate cut - but reports, as I have noted, will tend to pull the market back down - sell rallies and buy breaks - the broken record...
Upcoming Reports:This is a HUGE week for news
Monday
New Home Sales 10:00 ET
Tuesday:
FOMC Meeting Begins
Durable Goods Orders 8:30 ET
Consumer Confidence 10:00 ET
Wednesday:
MBA Purchase Applications 7:00 ET
ADP Employment Report 8:15 ET
FOMC Announcement 2:15 ET
Thursday:
Personal Income and Outlays 8:30 ET
Jobless Claims 8:30 ET
Friday:
Employment Situation 8:30 ET
ISM Mfg Index 10:00 ET
Construction Spending 10:00 ET
Consumer Sentiment 10:00 ET
Volume Weighted Pivot Support and Resistance for Monday Jan 28th:
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