Wk32: Market Forecast

10 Aug

In the week ahead look for these news announcements to act as potential market movers
· Weds:
International Trade 8:30 AM ET
· Weds:
EIA Petroleum Status 10:30 AM ET
· Weds:
Treasury Budget 2:00 PM ET
· Weds:
FOMC Meeting Announcement 2:15 PM ET
· Thurs:
Retail Sales 8:30 AM ET
· Thurs:
Jobless Claims 8:30 AM ET
· Thurs:
EIA Natural Gas Report 10:30 AM ET
· Fri:
Consumer Price Index 8:30 AM ET
· Fri:
Industrial Production 9:15 AM ET
· Fri:
Consumer Sentiment 9:55 AM ET

We continue to look towards the NASDAQ and Russell as leading indicators of market action. The NASDAQ has already reached its 2006 lows. In the short term we will continue to buy pullbacks in the market. A price of 1044 on the S&P500 is our next target.

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