In the week ahead look for these news announcements to act as potential market movers…
• Mon: Chicago PMI 9:45 AM ET
• Tues: Motor Vehicle Sales
• Tues: ISM Manufacturing Index 10:00 AM ET
• Tues: Pending Home Sales Index 10:00 AM ET
• Weds: ADP Employment Report 8:15 AM ET
• Weds: EIA Petroleum Status Report 10:30 AM ET
• Thurs: Jobless Claims 8:30 AM ET
• Thurs: Productivity and Costs 8:30 AM ET
• Thurs: ISM Non-Manufacturing Index 10:00 AM ET
• Thurs: EIA Natural Gas Report 10:30 AM ET
• Fri: Employment Situation 8:30 AM
Both Ben Bernanke and Barack Obama speak on Thursday.
The S&P, Dow and NASDAQ remain in uptrend’s with the Russell trending sideways. We want to see a break outside the last few weeks of consolidation before loading up one direction or another. Keep in mind however that December tends to bring upside to the market.