Wk37: Market Forecast

13 Sep

In the week ahead look for these news announcements to act as potential market movers
· Tues: Producer Price Index 8:30 AM ET
· Tues: Retail Sales 8:30 AM ET
· Weds: Consumer Price Index 8:30 AM ET
· Weds: Treasury International Capital 9:00 AM ET
· Weds: Industrial Production 9:15 AM ET
· Weds: EIA Petroleum Status Report 10:30 AM ET
· Weds: Housing Market Index 1:00 PM ET
· Thurs: Housing Starts 8:30 AM ET
· Thurs: Jobless Claims 8:30 AM ET
· Thurs: EIA Natural Gas Report 10:30 AM ET
· Fri: Quadruple Witching

Lots of economic news this upcoming week that should move the market including a Quadruple Witching on Friday, meaning stock index futures, stock index options, stock options and single stock futures all expire.

Looking at a chart of the SPY with a Fibonacci drawn, the 127.1% and 161.8% extensions act as price targets when a stock or index breaks out. The spinning top candle pattern on Friday could be a sign of stocks beginning to roll over here, but any sideways movement would be considered bullish.
The VIX is also something to note. Currently at lows on the year, the lower 20 range that it has been sitting in is half of what it was a mere 6 months ago.

One Response to “Wk37: Market Forecast”

  1. Saoirse September 16, 2009 at 3:04 am #

    I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

    Patricia

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