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Monday, January 08, 2007

Week Ahead 8/1 - 12/1

Earnings season is officially kicking off this Tue and will spell the tone for the coming week. Technicals of the indices are mixed for now:

-Nasdaq still supported by uptrend and 50MA. I share the same view as Jamie

-Both the DOW and S&P500 broke their downtrend on relatively high volume, and this is a bearish sign. DOW has also broke the 12,400 mark which I earlier mentioned as a support level. Mike shares his technical thoughts on various indicies and ODA125 highlights that S&P 500 could be potentially forming an imperfect double-top

Of course all these technicals could change course along the week depending on whether investors like the earnings announcements. Remember: The market is dynamic!

Notable earnings: LIFC

Tue: MacWorld-Keynote speech by Steve Jobs
Notable earnings: AA (earnings season official start)

Wed: Wholesale inventory
Notable earnings: INFY, DNA

: Business inventory


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