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world stock market, us stock market
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1/28/10 Stock Split Report
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Stock Split Report Subscribers:
MARKET ALERTS:
Targets hit alerts: None issued
Buy alerts: SLB; SLH; WSM
Trailing stops: AMMD; BID; DBRN; LNCR
Stop alerts: BID; BUCY; JOSB; VSH
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We have DIVIDED the video into component parts: Market Overview, Technical Summary, Economy, and the Next Session. This allows you to choose the segments you are interested in without having to find the spot in a longer video. Click on the link to the portion you wish to view.
MARKET OVERVIEW
TO VIEW THE MARKET OVERVIEW CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/MarketOverview.wmv
TO VIEW THE TECHNICAL SUMMARY VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/TechnicalSummary.wmv
TO VIEW THE NEXT SESSION VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/NextSession.wmv
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SUMMARY:
- NYSE indices try to lead a bounce but fail miserably. Afternoon rebound ironically undercut by Bernanke cloture vote.
- S&P questions the UK as the safest banking center on earth. Might have well questioned motherhood given the market's response.
- Jobless claims clock in higher than expected.
- Durable goods orders rise, but a mere shadow of expectations.
- Indices sell again, manage to hold support though NASDAQ is at support one notch lower.
- Current bias and point of least resistance is down, but some good after hours earnings, maybe some short covering, and maybe even GDP can provide a spark to recover some lost ground.
Meager bounce attempt dies early in the session.
The NYSE indices tried to start Thursday with a bounce. The S&P futures were up, gapping higher from the prior close. They were trying to hold up positive and make a bounce to test the wicked selloff last week. It moved laterally for three days and, as is often the case, an index or a stock will bounce (especially if it has been in a strong uptrend) to test that selloff and try to recapture the uptrend. If it is heavy selling, it will roll over. That did not happen on Thursday. There was an attempt to start things positive, at least with respect to the NYSE indices; the NASDAQ started negative. But it just did not gel. It was trying to start higher despite jobless claims that are a bit worse than expected. They rose to 470K, and that was 20K more than expected. It was also in spite of less-than-expected growth in December durable goods. They only grew 0.3% versus the 2% expected, but that was better than the -4% drop in November.
There were also good earnings to consider. Ford posted its first profit in years and promised further profits in the future. It has turned its act around without getting any stimulus dollars or being taken over by the federal government. 3M reported a solid quarter, as did PG. There were plenty of good earnings out, and that is why the NYSE was trying to move higher early on. NASDAQ was acting as a drag. It was ten points below fair value, and it was not about to move up before the session started. Things looked somewhat positive early on, but then they tumbled and the bottom fell out. The main catalyst was that the S&P said the UK was no longer to lowest risk banking center in the world. It did not say what the lowest risk banking center was, but the implication was enough to jar financial markets around the world. Everyone has ties to the UK financial centers, and when they are no longer considered the safest place on earth, that has repercussions around the world. They were felt in the US markets as they plunged with greater than 2% losses on all of the indices.
The indices were in free fall and were on the defensive all day. NASDAQ broke through the 2200 support level marked by the November and December peaks and fell down to the lower support level marked by the September peak. It managed to hold there and did bounce, but that was still a serious break with no attempt to bounce higher. SP500 had trouble, too. It broke through its lateral range, but did manage to hold its September peak that is its next support level around 1078. It recovered to hold the key 1084-1085 level that many people are looking at as support. It held it, but it is still not the greatest move. It is sitting on top of the September peak as well as the November and December consolidations. It was a good recovery to see that happen, but hardly takes the heat off the index. They were in better shape immediately after the morning selloff, but then had trouble closing the deal.
The SP500 had a difficulty closing. It was a nice recovery, but it was volatile. It rebounded and then was looking solid with a half hour to go. The indices were getting close to turning positive if the rally could maintain itself, but then they lost their mojo in the last half hour and closed down. They did not close positive by any stretch they were well off their highs. They gave up a chunk of gains that would have been a rather nice finish once again, similar to Wednesday, but they were unable to seal the deal. The irony of this is the selloff started during Ben Bernanke's cloture vote in the Senate. When it was confirmed that he had survived the cloture and would go into a final vote (which was approved), the market started to sell off. People were saying the market would sell off if he was not approved, but here there was a direct (but not serious) reaction.
Both NASDAQ and SP500 are at support. NASDAQ is at the next support, unable to hold that initial level at 2205-2200 that was key. The bias looks like it is still down. There were breaks in trends. There were sharp breaks, moves laterally, and they were unable to rebound at all. Then there was another break lower on Thursday. You can easily say that the path of least resistance is to the downside. Maybe there will be after-hours earnings that will get the market excited, particularly in technology. MSFT came out with boffo numbers. It was down immediately after wards, but it has rallied back. It gave back some of the gains late, but it was able to turn the tide. AMZN was down early, but it has rallied back nicely. Both of these produced excellent results and should be rewarded for them, but it depends on the state of mind of the market. JNPR reported earnings after hours and posted a nice gain. They were not monstrous gains, but very solid. Maybe these earnings will finally be treated right. As is often the case, the market does shift gears midway through an earnings season. The question is with all the other political intrigue and influences impacting the market (e.g., worry over what will happen with the banks, additional spending by the federal government, healthcare, and cap and trade). There are weighty issues that are sitting on top of the market. It may not be enough that earnings look good for now or that is there is good guidance.
OTHER MARKETS
The dollar rose (1.3970 Euros versus 1.4019 Wednesday). The DXY0 has moved through the 200 day EMA as it continues the second leg of its relief bounce off the long downtrend. It is textbook handling of the resistance at 78, and now it is looking at resistance at 79.50 up to roughly 81. Digging yourself out of a hole is tough business, but it is doing it. Its success is pressuring a lot of the "over there" trades that prospered during the dollar's demise through early December 2009.
Oil was flat on the session (Texas with $73.85, +0.10; New York with $73.84, +0.17). There was no gain, but it has come down and is holding and bouncing off lows and trying to move laterally. As it came sharply down in its trend, it is trying to hold a support level. There is a support level running from August through early October that it is trying to hold right now to make a higher low. This is very much range trading within its established range. This is predictable, and I still think it will come down into this range. I do not think it will bounce off the top, although it may want to try a bounce before it comes back down. I think 70, the prior low, looks like a good point for it to test on this move.
Gold was virtually flat on the session ($1,085.7 0, +1.20) when you consider it is trading around $1100. The gold index was down $1.50. The thing to note is that it is trying to bottom at the December low and put in a double bottom. The catalyst would be more spending in the industrialized countries, such as the United States, on a jobs package. There were promises in the State of the Union to spend more money.
Bonds did gain some ground. The 10 year closed higher (3.65% versus 3.68% Wednesday). Bonds rallied and pushed yields lower, but given the size of the drop in the market, they did not rally much. They are stalling out. The TIPS stalled out at 105 where it spent time in December and November. It has a hard time pushing through that area. If things worsen dramatically and there is a GDP report out tomorrow then we could see bonds rally again. It is probably not a catalyst in the near term as we move through this earnings season.
TECHNICAL
INTERNALS
The internals were negative even with the attempted recovery. Decliners led on NASDAQ 2.5:1, and led NYSE 2.6:1. Stocks were down across the board that is a no-brainer. Volume spiked higher on NASDAQ to 2.8B shares, and it was lower on the NYSE. It fell 14% as it moved down to average.
The big volume spike on NASDAQ shows that the sellers were back in the market. There was distribution once more. It looked as if NASDAQ was moving higher on Wednesday as buyers came back in on higher volume, and that is indeed the case. Nonetheless, the breadth was relatively narrow on that move at 1.5:1. That shows a few big names were moving but not stocks generally in NASDAQ. It was not a great vote of confidence to the upside, and on Thursday, they were tossed back on high volume.
CHARTS
There are continuations of the trend breaks. I was looking for a possibility of a rally to test the lows of this high. If there is a substantial break, often in a long-term uptrend (or downtrend) the market will come back to test that resistance or support level. The indices did not try to do that they broke lower. NASDAQ broke clearly through the consolidation and an important support level in the November and December consolidation peaks. It is now sitting over the September level, and it managed to bounce off that intraday, although it was no great recovery. It is holding the November high, but it is a struggle. It looks like the path of least resistance is lower, although there is significant support in this level. Maybe this level will produce the bounce back up that challenges the prior high and sets up more selling or breaks higher. There are good earnings after hours, and maybe they will finally turn the tide. We are through a good chunk of earnings season and have sold during that period. We now have good news, so maybe with the other outside forces getting somewhat accepted I hate to say that, but that may be the case it could be time for the earnings results themselves to take over.
SP500 is also struggling. It has the same type of action: A lateral move trying to hold support and then breaking and giving way. It also held the September peak on the low near 1078, and it bounced. It is holding that level on the close just as it held it on the low on Wednesday. It is holding support, and that is what you want to see. It is also at the November and December consolidation lows, so there is a significant range of support from where it closed down to where it touched intraday. That could be the catalyst to bounce it higher and make the test of the 1125 level. Trends do not like to give up easily. There is a long trend from March. That is ten months of trending higher, and it will not want to give it up easily. It will test, bounce, it will look bad, and then it will try to bounce up and come back to kiss that level. Then it can sell more from there if it is truly going lower. The caveat is if there is bad news out there that it is taking into consideration with respect to what the Fed will do. If that is the case, that could trump any desire to move higher and test. However, this is typically what happens when there is a severe break of a long trend it bounces up to test it. Sometimes there are reversals off this kind of day that look as if all hope is lost, and then there is a reversal. That is when there is the test.
SP600 does not hold a lot of hope. They, too, managed to hold at the September peak after cracking through October. There was no November or December consolidation with the small caps. They were playing catch up at that point because they sold off harder given the worries about the economy. They caught up, but now they are in a straight fall and did not try to move laterally as much as the other indices. They are cracking support and are not looking very savory right now.
The SOX looks even worst in my opinion, although they are still trying to hold the September and October twin peaks. They did crack below them. There is a range of support, and they closed below that level. The semiconductors are not looking very good. Some of the afterhours results will not help them. KLA and LRCX it will not help them, but we will see if the rest of the techs will help pull the market back up.
SP500 had a sharp break in the trend, and there has been no attempt to recover that trend. If you look at NASDAQ, there is a same problem a sharp break of the trend and a gap through it with no attempt to come back up and test. The easiest path is still downside, though there is some important support on both NASDAQ and the NYSE just below them. Earnings have been solid. They have been unable to buck the market back to the upside given the head winds of the federal government's attack on banks, et cetera. Those are still hanging out there and represent significant costs to most companies in this country. It represents a potential windfall to companies such as GE because they are willing to sell their soul to the devil to get the contracts and survive. We have the government picking and choosing who the winners are, and that is typically not the American way. It should be the brightest, fastest, and smartest getting to the brass ring.
LEADERSHIP
BUCY is reflective of many in the group. It is starting to crack and break down, unable to give a bounce even up to the 60 level and match the prior December peak. Maybe it will reverse from here. There is still support, but these are risky. There could be that head fake that bounces it back up, or it could just continue selling. It is in a difficult position. TEX tested lower and rebounded again, and that was the second session. There is still some life in some of these positions.
AAPL made a lower high, broke down, and it is trying to hold in a general support range. It looks under pressure right now as if it needs to sell some more. GOOG is down after the gap. It has continued its move laterally and may continue down from here. There is some support. What was leadership is now in trouble and under pressure. MSFT announced after hours. It formed a bear flag and was starting to sell on high volume. After hours, it reversed from an earlier selling (due to erroneous reporting as to what the actual results were) and moved positive. It has backed off from that as the afternoon session went on. AMZN has been a retail leader. It rallied into its numbers and was down after hours, but then it reversed and has moved positive. Again, it looks like it will extend its gain. I do not want to call it tech it is retail, but you can always think of AMZN in that group because it was one of the internet pioneers as well.
CELG held up so strong during all the market selling, but it finally broke a bit to the downside on higher volume. It was hardly a breakdown, however. I like this because it may give us something we can buy into off this support level if it sets up. There is a rounded top, and it will have to show something more. This is one that may give us a bit more to work with, so I am not upset about this move. Energy had its troubles as well. APA has something of a head and shoulders double top combination. It gapped higher, rolled back down. It is showing signs of wear and could be in trouble to the downside. SLB sold down. It was not a total rout, but I am looking for a quick move down that we can play.
Leadership is not in the best position right now. There are stocks that look very good, and some of the restaurant stocks are doing just fine. PNRA is very solid. It gapped higher and is holding the gap. BWLD is another stock that reported good results. It surged and has come back to test. There are stocks that are in good position, but there are always stocks in good position. The question is whether they can withstand the onslaught of continued selling. Then that begs the question of whether there will be continued selling. The market indices certainly look weaker at this point, and it appears the path of least resistance is lower. Most leaders eventually succumb to sustained, heavy selling. That is not what is happening now, and there is still the issue of what the indices will do here. Leadership has taken serious hits over the last couple of weeks and has to set up in order to get a large number of stocks that can move the market higher in position to move. Time is needed to set up, consolidate, and get into position to move.
THE MARKET
MARKET SENTIMENT
While the VIX was up on the session, it was not a monster session. Despite the big losses on the indices suffered during the day and the corresponding intraday move by the VIX, the losses were not huge by the close. A 2% loss on NASDAQ is not chopped liver, but it was not enough to drive and hold the gains in volatility. It is trying to make a test and rebound. I do not read tealeaves into the VIX as far as predicting the rest of the market. The VIX's relationship with the other indices is very incestuous. They play off one another and it is not a read; it is more of a reaction to the other markets. If you want to read volatility, you should look in the intraday action of the markets and options pricing because they include implied volatility. That is a measure of how far the stock is anticipated to move up or down, and it tells what the expected range is. That is much more of a forward-looking indicator than the VIX. There are times the VIX can tell us what is coming down the road, such as when it rises when the overall stock market rises. That means a selloff of big proportions is coming. There are other times it will set up a correlation between other markets and they move back and forth together. You can play that as well. I am not saying it does not have meaning, but people attribute more meaning to it than is actually useful and would be functional for you.
VIX: 23.73; +0.59
VXN: 24.91; +0.7
VXO: 23; +0.68
Put/Call Ratio (CBOE): 0.8; -0.15
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%. Once again bulls have peaked out near the 50% level. Bulls have bumped at 50ish since late August 2009, falling to 45ish and then rebounding. Thus for now this is more of the same as bulls get a bit pessimistic as the indices rise again and VIX falls. Hit 52.2% three weeks back, the highest level on this run. Still well over the 35% level that is the threshold for what is considered a bullish climate. It does not mean things are necessarily 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: 16.9%. Virtually in a flat line the past 6 weeks, down from 28% in mid-November. No sign of real worry based on this reading. This is the lowest level of the entire rally and is at a bearish level. Peaked near 28% on this round, falling short of the 35.6% hit in July 2009. 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: -42.41 points (-1.91%) to close at 2179
Volume: 2.796B (+15.51%)
Up Volume: 602.856M (-994.403M)
Down Volume: 2.269B (+1.403B)
A/D and Hi/Lo: Decliners led 2.5 to 1
Previous Session: Advancers led 1.48 to 1
New Highs: 41 (+4)
New Lows: 20 (-3)
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: -12.97 points (-1.18%) to close at 1084.53
NYSE Volume: 1.116B (-14.2%)
Up Volume: 331.741M (-401.732M)
Down Volume: 776.684M (+224.086M)
A/D and Hi/Lo: Decliners led 2.6 to 1
Previous Session: Decliners led 1.12 to 1
New Highs: 95 (+4)
New Lows: 56 (-7)
SP500 CHART: http://investmenthouse.com/ihmedia/SP500.jpeg
SP600 CHART: http://investmenthouse.com/ihmedia/SP600.jpeg
DJ30
Stats: -115.7 points (-1.13%) to close at 10120.46
Volume DJ30: 240M shares Thursday versus 262M shares Wednesday.
DJ30 CHART: http://www.investmenthouse.com/ihmedia/DJ30.jpeg
FRIDAY
It is the end of the week and will be the end of the month. There is some influence there as positions are moved and juggled a bit before the end of the month. I do not anticipate it will have a huge impact, but there is always a little of that at the end-of-the-month undercurrent at work. We may get some kind of spark from the afterhours earnings, whether it is AMZN, JNPR, or maybe MSFT (although it gave up many of its afterhours gains). We are a couple of weeks into earnings, and the big names are coming out. Stocks have been down moving into them and on the numbers, so maybe it is time to shift gears and get some upside. Thus far, the other factors weighing on the market have diminished the impact of earnings. Indeed, even good earnings have been treated as though they were poor as stocks have been sold on the news. That is not across the board, but it has been a general theme.
The GDP is out tomorrow. It is the first iteration of Q4, and it is expected to be a big one at 4.7%. They are good at cranking the numbers, so it is probably going to be close to that. The revisions will be key because this is the preliminary number, and they do not have a lot of data. They are making estimates, but will find out how much growth there was in the fourth quarter as more data comes in. There will be a lot of touting about how things are great, but we know that the numbers are not that good and the numbers coming out now are starting to soften. That is a concern, particularly when you look across the pond and see Greece's woes. It cannot get rid of its bonds unless it pays a lot of money in interest rates to do so. There are now Spain and Portugal worries as well. On top of that, today the UK is no longer the safest financial center in the world according to S&P. Those are many factors weighing on the psyche with respect to what businesses and individuals do in the future not to mention the softening numbers over the last few months.
There has also been a lot of selling. When there is this kind of selling, you tend to have some short covering to end the weeks. There was a sharp selloff, and then the market moved laterally. It broke lower on Thursday, but it was not able to make a definitive break. You would anticipate that, since it could not make the definitive break lower, there will be an attempt to bounce on short covering. The shorts were not able to drive things further. They may take a run in the morning. Much will depend on what happens with respect to earnings that came out after hours, and whether they can prop the futures. If they do, the shorts may take another run at it and then button up their positions for the end of the week. That could give rise to a rise in the indices, and maybe bump them back into this lateral range to start next week. If there is new money put to work to start the new month, we may get the bounce higher back up toward these levels. That is still definitely a possibility. It just does not seem that things are that dire out there to warrant a total selloff. Maybe it is getting to that point with the Fed hinting it will withdraw its stimulus at some point. It is actually addressing the subject in an obtuse way in its statement. Nonetheless, it will be removed at some point, but there is liquidity out there that should help prop things up. With the ambitious spending plans of the administration, they will need to print more money. The Fed will continue to have loose money for awhile before it feels inflation is too great from all the money printing and it has to start withdrawing the stimulus and raising interest rates.
It will not be a great day to take many new positions, but Friday is never that great. We might get the short covering bounce that may lead to another rally next week that comes up and tests the resistance levels. That said, we could also look at positions that have sold down but, on a bounce back up, could be solid downside plays for us. We could use puts to play them to the downside. If there is a short covering rebound, we will be looking at those to see what sets up. Maybe we can move in for a few positions ahead of the weekend, or at least get a list together for next week and see what happens to start the month. If things start higher and roll back over, that would be the best scenario. It is tricky to play in here because it has just broken the level, but it did not make the big move. It may try to bounce back up first. Sometimes you get these dips below a key level. Notice it is still holding a key level as well. It broke through this consolidation, it held another support level, and that could send it back up (with the shorts thinking they have all they can get for now). It is a point to be patient again. We have opened downside plays during the week. We have buttoned up positions, and we even have some upside positions on some great upside plays like PNRA and BWLD. We can play things both ways, but we have to be patient and let them set up and mind our stops. Have a great evening.
Support and Resistance
NASDAQ: Closed at 2179.00
Resistance:
2191 is the October 2009 peak
2205 is the November 2009 peak
2210 (from September 2008) to 2212 (the July 2009 closing low)
2218 is the August 2005 peak
The 50 day EMA at 2226
2245 from July 2008 through 2260 from late 2005.
2275 - 2278 from the February 2008 and April 2008 lows
2292 is a low from January 2008
2319 from the September 2008 peak
2326.28 is the January high
2324-2370 is a range of resistance from early 2008
2382-2395 from 2008
2412-2415 represents a series of peaks and lows in 2007, 2008
2453 is the August 2008 peak
Support:
2177 is a low from March 2008
2169 is the March 2008 closing low (double bottom)
2168 is the September 2009, intraday peak
2167 from the July 2008 intraday low
2155 is the March 2008 intraday low
2143 is the October 2009 range low
2099 is the mid-September 2008 closing low
2070 is the September 2008 intraday low
2060 is the August peak
2048 is the early October 2009 closing low
S&P 500: Closed at 1084.53
Resistance:
1101 is the October high
1106 is the September 2008 low
The 50 day EMA at 1109
1114 is the November 2009 peak
1119 is the early December intraday high
1133 from a September 2008 intraday low
1150 is the January 2010 peak
1156 is the Sept 2008 low
1185 from late September 2008
1200 from the July 2008 low
Support:
1084 to 1080 (September 2009 peak)
1078 is the October range low
1070 is the late September 2009 peak
1044 is the October 2008 intraday high
The August peak at 1040
The early October 2009 closing low at 1025
The early August intraday peak at 1018
The 200 day SMA at 1012
The November 2008 peak at 1006 closing 1007.53 intraday
992 is the August 2009 consolidation low
Dow: Closed at 10,120.46
Resistance:
10,365 is the late September 2008 low
The 50 day EMA at 10,363
10,496 is the November 2009 high
10,609 from the Mid-September 2008 interim low
10,963 is the July 2008 low
Support:
10,120 is the October 2009 peak
9918 is the September 2008 peak
9855 is the early September peak in its lateral range
9835 is the late September 2009 peak
9654 is the November 2008 high
9625 is the October 2008 closing high
9620 is the August 2009 peak
9430 is the early October low
The 200 day SMA at 9417
9387 is the mid-October peak
Economic Calendar
These are consensus expectations. Our expectations will vary and are discussed in the 'Economy' section.
January 25 - Monday
Existing Home Sales, December (10:00): 5.45M actual versus 5.90M expected, 6.54M prior
January 26 - Tuesday
Case-Shiller 20-city, November (09:00): -5.32% actual versus -5.00% expected, -7.27% prior (revised from -7.28%)
Consumer Confidence, January (10:00): 55.9 actual versus 53.5 expected, 53.6 prior (revised from 52.9)
FHFA Home Price Inde, November (10:00): 0.7% actual versus 0.2% expected, 0.4% prior (revised from 0.6%)
January 27 - Wednesday
New Home Sales, December (10:00): 342K actual versus 366K expected, 370K prior (revised from 355K)
Crude Inventories, 1/22 (10:30): -3.89M actual versus -0.471M prior
FOMC Rate Decision, 1/27 (14:15): 0.25% actual versus 0.25% expected, 0.25% prior
January 28 - Thursday
Initial Claims, 01/23 (08:30): 470K actual versus 450K expected, 478K prior (revised from 482K)
Continuing Claims, 01/16 (08:30): 4602K actual versus 4593K expected, 4659K prior (revised from 4599K)
Durable Orders, December (08:30): 0.3% actual versus 2.0% expected, -0.4% prior (revised from -0.7%)
Durable Orders ex Tr, December (08:30): 0.9% actual versus 0.5% expected, 2.1% prior (revised from 1.5%)
January 29 - Friday
GDP-Adv., Q4 (08:30): 4.7% expected, 2.2% prior
Chain Deflator-Adv., Q4 (08:30): 1.3% expected, 0.4% prior
Employment Cost Index, Q4 (08:30): 0.4% expected, 0.4% prior
Chicago PMI, January (09:45): 57.2 expected, 58.7 prior
University of Michigan, January (09:55): 73.0 expected, 72.8 prior
End part 1 of 3
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