|
|
us stock market, trading system
* * * *
8/25/09 Investment House Alerts
* * *
IH Alert Subscribers:
MARKET ALERTS:
Targets hit alerts: ESRX
Buy alerts: LNN
Trailing stops: None issued
Stop alerts: AMMD; POT
*******************************************************************
TO VIEW THE VIDEO MARKET SUMMARY CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/marketsummary.wmv
*******************************************************************
SUMMARY:
- Another indecisive day of gains bolstered by more decent economic data.
- Housing a bit better along with confidence.
- Bernanke to be reappointed, at least that is the story.
- Market in no man's land right now as it takes a breather from its breakout.
Some more decent economic data helps scrounge up some more gains.
Tuesday was not too bad as there was some more upside for the indices and there was some more positive economic news. The Case/Shiller home pricing index came out and showed unexpected improvement, and the consumer confidence showed improvement that was unexpected as well. Both of them topped what the pundits said they would be, and that helped turn the US futures positive when Europe and Asia were negative; indeed Europe started to turn positive before it closed thanks to the positive economic data that came out before the market opened here in the United States. Thus, the market had a nice pop to begin with, and it also got an assist from the President saying he was going to reappoint Ben Bernanke as Chairman of the Federal Reserve. That ends speculation as to whether or not Larry Summers would be appointed - he is an Obama insider and that would go against the traditional methodology by which the chairman was appointed. The chairman is usually more of an autonomous figure, versus someone who worked intimately with any particular administration. The idea was that this would make the markets (and thus investors) much more calm with respect to future policies because Bernanke has shown that, while he started a bit late, he is adept and creative at coming up with methods to get credit flowing again. You probably remember - maybe you do not want to - that at first there was difficulty in getting LIBOR rates down and getting banks to start trusting one another. Of course, they still do not trust borrowers, but that is another story. Nonetheless, he showed the kind of creativity that we would expect of a student of the Great Depression to show, and he helped turned things around whether it was with small business loans, revolving credit, auto loans, etc. I cannot say I agree with all of the policies, but sometimes when an administration is doing what both the Bush and Obama administrations were doing, you have to just make money available to keep the system afloat because the Fed does not make policy, it just deals with monetary policy.
That brings up another point as to whether or not Obama will ultimately reappoint Bernanke. Right now, he did what he needed to by saying he would reappoint him, but it is a long time until next year and a lot of circumstances can change. If things in the economy improve dramatically, he might feel that it is not necessary to keep Bernanke (a holdover from the Bush administration) in his package of appointees. If things get better, he may just decide not to appoint him.
I do not claim to be a conspiracy theorist, but as of late I seem to be coming up with conspiracies around every corner and under every rock. It still seems that a logical person can say that just because Obama said that he would appoint him today does not mean he has to follow through down the road. It is common to promise one thing and deliver another. I would not be surprised if that was the case if things got better, but I digress.
The futures were up after that news, and then they got a goose half an hour into the session when the consumer confidence figures came out better than expected. That was the apex for the day, however. There was a nice pop higher on that, and we took a little bit of gain off of the table before the sellers moved in and pushed the market back down rather sharply. It still held positive and bounced on into lunch, but it faded into the afternoon and into the last hour. It held gains but was unable to keep the highs for the day - something we saw on Monday. That kept really modest gains in the indices with NASDAQ up 0.31%, the Dow up 0.32%, SP500 at 0.24%, SOX all the way up 0.5% (wow). Small caps were at 0.4 1%, trying to lead again. That is a very good sign for the economy. The NASDAQ 100 was at 0.3%. It was even across the board with a little bit of leadership in the small caps, but it was nothing spectacular. The indices came back off of their highs hit intraday and closed with gains although well off of their highs.
The dollar actually closed a little bit weaker than it was on Monday. It closed at 1.4304 Euros, down from 1.4296. Oil and commodities did not fare any better even though the dollar was a bit weaker. Oil, after it has bounced up to the $73-$75 range (near the top of its range) fell right back down to $71-$79, down $2.58 on the session. Gold has been bouncing up and down around the $950 range. It is trying to get toward $1K, but is stumbling every time it gets over $955. It closed at $946.30, up $2.40. Bonds have been a bit fickle lately. They have been rallying and pulling back yield somewhat. The 10 year yield was all the way up to 3.8% recently, but now it closed Tuesday at 3.44%, down from 3.47 on Monday. Investors are getting gun shy even though the market has moved higher. The market has moved up, broke out on Friday, and continued to move up Monday and Tuesday, but lost a bit of momentum. As it lost momentum, unable to push further, some investors have moved toward the safety of bonds. Overall, when the look across the markets, there was not a lot of change. It was pretty much status quo since the Friday break higher by the stock market.
TECHNICAL
INTERNALS.
There was not a lot going on in the internals. They were pretty flat as far as breadth with 1.1:1 on the NASDAQ and 1.6:1 on the NYSE. The small caps and big caps are outperforming the other indices, so there has been better breadth on the NYSE relative to the NASDAQ. NASDAQ is considered the more speculative of the two exchanges, therefore you would expect more volatility, but we are not seeing that much volatility in the breadth. It is staying rather flat while the real action has been on the NYSE with the small caps. Small caps are the harbinger of better economic times, and they have been performing quite well. They made a breakout along with the other indices on the NYSE, and they have held the gains thus far. They look a bit tired right now and may come back to test, but all of the indices look that way.
Volume is very interesting whenever you are at a new high or flirting with new highs. That is what all of the indices are doing after making the breakout last week - they have new post-March highs and thus we take a close look at volume. NASDAQ was below average again. Friday it was above average but not greatly so, even though it was expiration. Monday it was lower and below average, and Tuesday it fell further below average. It was not bad trade at 1.9B shares, but it was not really great. There is not a lot of accumulation on the way up, but there is also no churn as the NASDAQ gains just modest amounts this week. Churn is where you have high volume after a good run higher but the indices goes nowhere. Buyers and sellers are trading quickly like they are passing around a hot potato, and that often precedes a fall down - whether it is a large or small fall depends on how far the market has moved, but we are not seeing that right now because there is low volume at this peak. It went up and is just kind of sitting there, running low on fuel. That does not mean it will tumble back down, however. There can be action where it comes up, pauses, and then continues. Sometimes you get that after a breakout. The market has not decided what it will do yet, as you can see when you look at the other indices.
The NYSE volume was down, but for the third session it was above average versus NASDAQ's below-average trade. It is declining. It is still solid trade but it is declining as the SP500, SP600 and the Dow show the same kind of action as NASDAQ. They made the breakout, rallied higher, still holding some gains every session but coming back off of the highs. It is noncommittal, and the volume shrinking is helping because it shows that there is not a lot of dumping of shares and not a lot of indecision about what to do. It is just sagging back with lower trade and less action after a breakout. If you are going to have a pullback, that is about as positive as the action can get. One cannot be too disappointed with the upside perspective with what the internals are showing right now.
CHARTS.
The volume is conducive to just a pause. What the charts are showing for the second day in a row - particularly the SP500, SP600 and the Dow - are doji on the candlestick charts. Doji can indicate a momentum change, especially after a run higher or lower. These are hammer dojis, but they are inverted and that can mean that there may be a change the momentum coming back to the downside . That is not a terrible thing because a test often happens after a breakout. If there is a change the momentum and it comes back down, it is better to be testing coming down from a breakout than to be bumping your head and showing a doji at resistance since that pretty much indicates you are going to go down further. This way, the markets have a decent shot of settling down to the breakout points and holding, especially since volume is lower. It is not accelerating as they run in place, they are just going up, getting tired and slipping back. That is not too bad of a scenario. They are rising up, sagging a bit, but are not giving that sharp reversal, and that is always good, especially when there is still nervousness out there. The sellers have come in and are trying to push it down, but they cannot really shove it; there is just some profit taking going on and that is conducive for the indices to hold their gains.
We are looking for a test of the breakouts on the SP500. The old August high was 1012 and 1028 on the close and on NASDAQ it was 2009 and the close was 2024. That shows what kind of cushion the indices had to come back and test. They have some room to do that and the candlestick patterns indicate that is what they will do. Do not get too wrapped up in candlestick patterns. They can give a heads up that we could be changing momentum, but a lot of times you see them in a continuation. If they occur in the extreme, after a strong, long move - if you see one like a gap higher to a hammer doji (or an evening star doji) then you could get the turn back down and a more significant one. A lot of times you will see a move going up and you will see a doji thrown here or there and then the market continues on. That is a continuation doji. The only reason I am harping on this is because the indices broke to a new high on the move and immediately showed doji on the candlestick charts. That does not mean they will come crashing back down, but it means they are likely in for a test.
Overall, they are still showing great resiliency. Of course, after a break higher we did not get the reversal. Then we have a pause, and come back to test - that is normal. It is not a done deal. With this breakout and pseudo test it is under right now, there is still more to this story. The market has not really shown its hand, but it is showing that it is not interested in selling off and not interested in breaking immediately higher either. It is in no man's land right now. We have had a lot of stocks break higher and are ready to pull back, and we have others that are right in the middle of their range and could continue higher or could test back. There are many stocks in good position to buy, but on the market in general, there are not a lot of great setups to the upside, or even to the downside for that matter. It is one of those times were things are sparse as far as looking for what to do with respect to plays. That means you have to be patient, and that is why we were not buying downside today even though there were some possibles there. We were not buying much upside either even though were possibles there as well. We have some other stocks that I will put on the report tonight that look like they are in good position to move; if the market breaks higher, we can pick up some of those . It is a time to be patient, so let the market finish what it is doing now. If it comes down and tests, there is going to be more high-quality stocks in good positions to buy. We do not have to buy something every day just for the sake of it. When most of the stocks in the market are in between where we need them to be to buy or sell, that warrants having a bit of patience. That way, we do not overtrade and do not try to get into too many positions. If you see something you like and it is your kind of stock, by all means, if it shows you the buy, go ahead and get into it.
LEADERSHIP.
As you can guess, a lot of the stocks are in positions that make it a bit difficult to buy. Most of them are holding up just fine, as we have seen over the past couple of weeks. It does not mean they are all in great position to buy right now.
Energy - all kinds of energy - struggled on Tuesday. Oil was down, and they had a decent push higher and a tougher day on Tuesday. That does not mean that they will crash. They just came back and sold off, some on higher volume and some pretty big price losses, but that is kind of normal when there are pullback days. Pretty much everything else was relatively solid. At least it held its position if it does not look like a screaming buy right now. Retail had another good day and moved higher. Materials had a good day and were solid as well. Others are pulling back. We are going to see them set up better has there is a pullback, so there is no rush to get into them right now. I like what we are seeing in retail, and that is a positive with the consumer confidence going up (there may be a correlation there, but retail has been stronger before that). Government services were doing nicely also. Can you imagine why? With the spending and the size of government increasing (that is where most of the jobs are coming from) those stocks were performing quite well.
In summary, we have a market that has made a breakout and has pushed a little bit higher but is not showing real crispness or snap in the move as it continues. Indeed, it is showing those doji on the candlestick which suggest it could come back and the indices make a test. There is no problem with that. The market goes up, pulls back down, makes higher lows and then continues on. There is liquidity under the market that keeps a bid in it which is why we have not seen it roll over and sell. We have good positions to the upside in these leaders and we have upside positions trying to hedge in case the market turns back. With that we can be a bit patient and see how it plays out, then move in with new positions as the opportunity presents itself.
THE ECONOMY
Case/Shiller home price index has some 'wow' factor . . . or not.
The Case/Shiller index was better than expected, coming in as -15.1%. That seems hardly great, but when you consider there was a -16.4% expected and a -17% prior, there is some improvement. There was so much improvement that Professor Shiller said that this had some 'wow' factor to it. It could be the kind of turn that suggests significant improvement is ahead, but in the same breath he turned around and said that we do not want to get ahead of ourselves because even though this does suggest a turn, we saw this in early 2008 as well. Prices slowed their decline and started to turn back up, but then collapsed. So he was saying that it looks great but it does not look that great. That is a professor for you, right? He is a pretty good guy because he believes in markets and is trying to create markets in housing prices and mortgages and that type of thing. It is a better predictor and prediction is what this is all about. He is doing a good job of putting forth his ideas at a time when markets are kind of frowned upon. That is just the nature of the day we are in now with the administration preferring regulation to free markets. I digress.
Unfortunately, Mr. Shiller does not have a lot of belief in his market theory right now, maybe because it is new and he is just getting it out there. In any event, there is improvement there that jives with what we have seen in other parts of the economy with the regional PMI's in the United States and Europe. There are positives, but the question is how strong they are going to be. Will it be enough to propel a sustained recovery or are we going to go up, flatten out, maybe double dip, then really get going again? No one really knows what the situation is going to be, but I can tell you this: bottom line, there is improvement right now. We saw the same thing in the 1970's where there was improvement up to a certain point, but not the kind of improvement that gives the economy a kick in the pants and gets these things supercharged higher as happened in the 1980's. I hope we do not have to wait that long to do it this time, but without going into the story, you know with the kind of stimulus we have that we are taking that path. It is what we have done before, so the prognosis for a rip-roaring economy is not great. It does not mean we will not have rides in the stock market. Here we are right now, and we will have other ones as well.
Consumer Confidence still at recession levels but trying to turn.
Consumer confidence was at 54.1 when 47.9 was expected. The prior month, June, was revised to 47.4 from 46.6, so we had an upwardly revised reading. It is always a positive when the economists are overly pessimistic they start missing the turn, and it looks like we are getting that as well. That is great to see. We also have to realize that consumer confidence is still at very negative levels. If you saw these numbers and did not know the context of the market or economy, you would say these are recession level numbers. Anything in the 50s and 60's shows you are going into recession. Of course we are seeing a little turn here, and perhaps that means the confidence is going to head out of this trough and break out of these 50s and get in the 60's and 70's were there can be recovery. As always, you have to walk before you can run. We are crawling, getting back up to walking and hopefully running back out of this. Hopefully the consumer will turn things around.
It is kind of like the job market. The job market is terrible, people give up and the job numbers get better. It that because there are suddenly more jobs? No, it is because there are less people looking and so the unemployment rate goes down and there are more jobs per person in the work pool. That leads to the confidence rising, and those that have given up come back and the job pool swells and unemployment rate goes up because there are really no more new jobs. That is the situation that we have here with consumer confidence. People see things are a bit better, they get fired up, but then things are not really much better and they cannot get jobs, the economy is not really picking up, and then pessimism picks up. I sound like Professor Shiller. I cannot say it is not good news - as a matter of fact, I will say it IS good news. We are seeing a ripple of good news going through the economy, so I will take it on the positive side and say the PMI's are catching up with the market this time. They did not lead them like they did in 2002, but they are playing catch up now. That is good. Maybe now we can get more good news and the market will factor that in and break out again. How's that for positive? With the market going up and good stocks in good position, why not?
THE MARKET
MARKET SENTIMENT
VIX: 24.92; -0.22
VXN: 25.13; -0.14
VXO: 23.39; +0.14
Put/Call Ratio (CBOE): 0.81; +0.08
Bulls versus Bears:
This is a reading of the number of bullish investment advisors versus bearish advisors. The reason you look at this is that it gives you an idea of how bullish investors are. If they are too bullish then everyone is in the market and it is heading for a top: if everyone wants to be in the market then all the money is in and there is no more new cash to drive it higher. On the other side of the spectrum if there are a lot of bears then there is a lot of cash on the sideline, and as the market rallies it drags that cash in as the bears give in. That cash provides the market the fuel to move higher. If bears are low it is the same as a lot of bulls: everyone is in and the market doesn't have the cash to drive it higher.
Bulls: 48.3% down from 49.4%. This follows a steady rise past the 35% level that is the threshold for what is considered a bullish climate. It does not mean things are bearish; that takes a reading in the 60% range. Hit a high of 47.7% mid-June on the run from the March lows. Again, to be seriously bearish it needs to get up to the 60% to 65% level. Dramatic rise from 21.3% in November 2008, the bottom on this leg. This last leg down showed us the largest single week drop we have ever seen, falling from 33.7% to 25.3%. Hit 40.7% on the high during the rally off the July 2008 lows. 30.9% was the March low. In March the indicator did its job with the dive below 35% and the crossover with the bears. A move into the lower 40's is a decline of significance. A move to 35% is a bullish indicator.
Bears: 23.1% up from 21.3%. Rebounding some from the big drop two weeks back from 31.1% and 35.6% the prior week. Still a massive exodus from the ranks of bears. For reference, cracking above the 35% threshold considered bullish. Hit a high on this run at 47.2%. For reference, bearishness hit a 5 year high at 54.4% the last week of October 2008. The move over 50 took bearish sentiment to its highest level since 1995. Extreme negative sentiment. Prior levels for comparison: Bearishness peaked at 37.4% in September 2007. It topped the June 2006 peak (36%) on that run. That June peak eclipsed the March 2006 high (33%) and well above the 2005 highs that spawned new rallies (30% in May 2005, 29.2% in October 2005). That was a huge turn, unlike any seen in recent history.
NASDAQ
Stats: +6.25 points (+0.31%) to close at 2024.23
Volume: 1.883B (-5.73%)
Up Volume: 1.008B (+99.253M)
Down Volume: 858.97M (-274.234M)
A/D and Hi/Lo: Advancers led 1.16 to 1
Previous Session: Decliners led 1.18 to 1
New Highs: 76 (-3)
New Lows: 9 (+2)
NASDAQ CHART: http://investmenthouse.com/ihmedia/NASDAQ.jpeg
NASDAQ 100 CHART: http://investmenthouse.com/ihmedia/NASDAQ100.jpeg
SOX CHART: http://investmenthouse.com/ihmedia/SOX.jpeg
SP500/NYSE
Stats: +2.43 points (+0.24%) to close at 1028
NYSE Volume: 1.303B (-6.19%)
Up Volume: 805.124M (+124.71M)
Down Volume: 486.182M (-52.849M)
A/D and Hi/Lo: Advancers led 1.57 to 1
Previous Session: Advancers led 1.11 to 1
New Highs: 142 (-8)
New Lows: 63 (-14)
SP500 CHART: http://investmenthouse.com/ihmedia/SP500.jpeg
SP600 CHART: http://investmenthouse.com/ihmedia/SP600.jpeg
DJ30
Stats: +30.01 points (+0.32%) to close at 9539.29
Volume DJ30: 173M shares Tuesday versus 190M shares Monday.
DJ30 CHART: http://www.investmenthouse.com/ihmedia/DJ30.jpeg
WEDNESDAY
The indices are in no man's land right now. They have made a breakout and gone up a little bit, but they have not really been able to push the gains and seem like they need to come back and test. There is no problem with that - that is what indices and stocks do after they break out. There are a couple of doji, and they can just be continuation patterns where it takes a pause and continues on. That would be great. They can also come back to test the August high or, for the SP500, the November 2008 high (a key breakout - the last peak it had to cross). That would be a perfect place for it to hold if there is a lot of strength left in the market.
The problem is that nothing is screaming "buy me!" right now. There are some stocks in great shape, but with the market in the position it is, I do not feel the need to load the boat. If the market has pulled back and the stocks have pulled back and they all start to break higher at the same time that is when we can get excited about it. There are not a lot of downside plays screaming to be bought either. There are some great ones that we have on the report, just as there is some great upside on the report, but the market is in a place of indecision. It could come back and test gently and bounce up, or it could continue higher from here, or it could collapse and break down. We have that liquidity bid under the market, so I do not think the breakdown is possible. That does not mean it will not happen, but thus far the liquidity has always been there, and now that Uncle Ben is reportedly going to be reappointed, there is no reason to think that the liquidity will be gone. Last week he said they would not pull the plug on any of these facilities, and we have to believe him.
Historically, the Fed always keeps the money too loose for too long, then tightens up too much for too long. It over-stimulates and then goes into overkill when it tightens up and does the cram down on the market. We have booms and busts that are manmade, despite that the Fed was created to smooth out the economic cycles. The Fed tries to alleviate pressures that it believes are in the market by the manipulation of interest rates - holding them lower than they want to be or raising them higher than they want to be - and the market cannot correct. It creates imbalances and gets money to move in places it would not naturally go, and when the Fed pulls away the stimulus or opens up the spigot, a lot of people get washed away and we have those sharp ups and downs. When you college guys and gals hear your professor say that the central banks are there to smooth things out, well, sure they are. Doctors are there to keep you from getting sick, and traffic lights are there to keep us from having accidents, but the point is that we still do. We cannot control certain things as much as we want to, and, as smart as we think we are, we cannot control or out think natural forces and we will have these incidents.
Since there is no clear "buy me" or "sell me," we have to be patient. We have to be happy with what we have now, and we have some great positions. I do not know how much we will be buying because a lot of stocks are extended now and are hard to buy into. We will be taking some gains if we get another day or two to the upside. If it comes back down, that is fine; we will let it make the test and set up some more buys for us. Overall, everything is in good position. You always have to be careful, though, when you think things are in great position. There we can still buy some stocks if they make some moves, but there is not a lot we will do tomorrow. Whenever that happens and you have a dull market, be a little careful - on the short side as well as the buy side - because we have had big runs to this point. You cannot forget that some stocks have put in 500% moves off the bottom from March. That is incredible. They look like they might continue higher, and maybe they will, but it is tough to buy in at that point.
The point is, number one, the theme of money continues because Ben Bernanke is, for now, up for reappointment. That will keep the money flowing and keep the bid under the market. That means we will have pullbacks, but you can bet you will have big money trying to come in and buy them. That does not mean the market is immune from sharp pullbacks however. We saw that sharp gap two Mondays back. It got filled in with money, but that does not mean it is not going to happen, and we might get a week or two of sharp pullback. That would scare the pants off of everybody, but then I bet you money it will come right back into the market. For now, we have good positions on both sides, so do not get too overeager. Let the market get this little bounce higher and pullback under its belt and tell us what it is going to do, then move from there. We do not have to stick our necks out too far for this market. Once it gives a pullback or breaks higher, we will find out what it is going to do. It may sound like I am being a bit wishy-washy here, but I am not. We bought when it is time to buy in, and now it is time to be patient.
Support and Resistance
NASDAQ: Closed at 2024.23
Resistance:
2070 is the September 2008 intraday low
2099 is the mid-September 2008 closing low
2169 is the March 2008 double bottom low
Support:
2016 is the August peak
The 10 day EMA at 1996
1984 from late September
1962 is the bottom of the August 2009 range.
1947 is the October gap down point
The 50 day EMA at 1913
1897 is the October post gap intraday high.
1880 is the June peak
1862 is the July peak
1786 is the November intraday high
1780 is the November 2008 closing peak
1773 is the May intraday peak
1770 is the mid-October interim peak
1673 is the prior April peak
1666 is the intraday January 2009 peak
1664 is the May 2008 low
1661 is the April 2009 prior peak
The 200 day SMA at 1654
The January closing peak at 1653 (intraday)
S&P 500: Closed at 1028.00
Resistance:
1044 is the October 2008 intraday high
1106 is the September 2008 low
1133 from a September 2008 intraday low
1185 from late September 2008
1200 from the July 2008 low
Support:
The August intraday peak at 1018
The November 2008 peak at 1006 closing 1007.53 intraday
The 18 day EMA at 1001
992 is the August 2009 consolidation low
The 50 day EMA at 966
956 is the June intraday peak
944 is the January 2009 high
935 is the January closing high
932 is the July peak
930 is the May peak
919 is the early December peak is bending
899 is the early October closing low
896 is the late November 2008 peak
888.70 is the April intraday high.
882 is the early May low
878 is the late January 2009 peak
The prior April peak at 876
The 200 day SMA at 877
866 is the second October 2008 low
857 is the December consolidation low
Dow: Closed at 9539.29
Resistance:
9625 is the October 2008 closing high
10,365 is the late September low
Support:
9387 is the mid-October peak
The 18 day EMA at 9293
9116 is the August low
9088 is the January 2009 peak
8985 is the closing low in the mid-2003 consolidation
The 50 day EMA at 8973
8934 is the December closing high
8878 is the June peak
8829 is the late November 2008 peak
8626 from December 2002
8588 is the May high
8581 is the July peak
8521 is an interim high in March 2003 after the March 2003 low
8451 is the early October closing low
8419 is the late December closing low in that consolidation
8375 is the late January 2009 interim peak
The 200 day SMA at 8318
8315 is the February 2009 peak
8307 is the April 2009 intraday high
8221 is the May 2008 low
Economic Calendar
These are consensus expectations. Our expectations will vary and are discussed in the 'Economy' section.
August 25 - Tuesday
S&P/Case-Shiller, June (09:00): -15.1% actual versus -16.40% expected, -17.06% prior
Consumer Confidence, August (10:00): 54.1 actual versus 47.9 expected, 47.4 prior (revised from 46.6)
August 26 - Wednesday
Durable Orders, July (08:30): 3.2% expected, -2.5% prior
Durables, Ex Transportation, July (08:30): 1.0% expected, 1.1% prior
New Home Sales, July (10:00): 390K expected, 384K prior
Crude Inventories, 08/21 (10:30): -8.40M prior
August 27 - Thursday
Initial Jobless Claims, 08/22 (08:30): 565K expected, 576K prior
Q2 GDP - Prelim, Q2 (08:30): -1.4% expected, -1.0% prior
GDP Deflator, Q2 (08:30): 0.2% expected, 0.2% prior
Core PCE, Q2 (08:30): 2.0% expected, 2.0% prior
August 28 - Friday
Personal Income, July (08:30): 0.1% expected, -1.3% prior
Personal Spending, July (08:30): 0.2% expected, 0.4% prior
PCE Core, July (08:30): 0.1% expected, 0.2% prior
Michigan Sentiment-Rev, August (09:55): 64.8 expected, 63.2 prior
End part 1 of 3
|
us stock market
trading system
|
