In the week ahead look for these news announcements to act as potential market movers
Pending Home Sales to kick start the week Monday followed by Jobless Claims on Thursday. Taking a look at the fibo 50% and 61.8% lines on the top line figures we see the NASDAQ and Russell are already well above their 61.8% line (indicating the likelihood of a full retracement). The S&P and Dow are approaching their 61.8% lines and it’s at these levels we can expect some hesitation.