Wk17: Market Forecast

20 Apr

Potential market movers in the week to come…
· Mon: Leading Indicators 10:00 AM ET
· Tues: Redbook 8:55 AM ET
· Weds: EIA Petroleum Status Report 10:30 AM ET
· Thurs: Jobless Claims 8:30 AM ET
· Thurs: Existing Home Sales 10:00 AM ET
· Fri: Durable Goods 8:30 AM ET
· Fri: New Home Sales 10:00 AM ET

Earnings announcements for the week can be found here.

The next logical target on the S&P would be 910, but before that happens, a pullback should be in store. A move down to 840-845 would be healthy. We will watch for a break and close below the previous swing low of 835 before becoming increasingly bearish as that would confirm the trend of higher highs and high lows broken.

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