Wk27: Market Forecast

5 Jul

In the week ahead look for these news announcements to act as potential market movers…
· Weds:
EIA Petroleum Status Report 10:30 AM ET
· Thurs:
Jobless Claims 8:30 AM ET
· Thurs:
EIA Natural Gas Report 10:30 AM ET
· Fri:
International Trade 8:30 AM ET
· Fri:
Consumer Sentiment 9:55 AM ET

Timothy Geithner Speaks Friday July 10 at 10:00 AM ET.

Not much is happening in the week following the holiday. Often times we find trading following a 3-day weekend to be more on the bullish side, but all signs point to sideways action in the weeks and months to come. Looking at a chart of the SPY we can see the clear trading range we have been in for the past few months and it is likely that we will continue in this range. Our bias is sideways until the 880 level or 955 levels are broken on the S&P500.

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