Wk39: Market Forecast

28 Sep

In the week ahead look for these news announcements to act as potential market movers
· Tues: S&P Case-Shiller HPI 9:30 AM ET
· Tues: Consumer Confidence 10:00 AM ET
· Weds: ADP Employment Report 8:15 AM ET
· Weds: GDP 8:30 AM ET
· Weds: EIA Petroleum Status Report 10:30 AM ET
· Thurs: Performance Income and Outlays 8:30 AM ET
· Thurs: Jobless Claims 8:30 AM ET
· Thurs: ISM Manufacturing Index 10:00 AM ET
· Thurs: Pending Home Sales Index 10:00 AM ET
· Thurs: EIA Natural Gas Report 10:30 AM ET
· Fri: Employment Situation 8:30 AM ET

Another week packed with economic data including GDP Wednesday, ISM Manufacturing Thursday and Employment Situation Friday.

Even though we’ve pulled back on the daily chart, we cannot be sure if it is the end of the bull run. We remain in a downtrend on the monthly chart; however watch for a moving down into the S&P support level of 1020-1040.

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