(function() { (function(){function c(a){this.t={};this.tick=function(a,c,b){var d=void 0!=b?b:(new Date).getTime();this.t[a]=[d,c];if(void 0==b)try{window.console.timeStamp("CSI/"+a)}catch(l){}};this.tick("start",null,a)}var a;if(window.performance)var e=(a=window.performance.timing)&&a.responseStart;var h=0=b&&(window.jstiming.srt=e-b)}if(a){var d=window.jstiming.load;0=b&&(d.tick("_wtsrt",void 0,b),d.tick("wtsrt_","_wtsrt", e),d.tick("tbsd_","wtsrt_"))}try{a=null,window.chrome&&window.chrome.csi&&(a=Math.floor(window.chrome.csi().pageT),d&&0=c&&window.jstiming.load.tick("aft")};var f=!1;function g(){f||(f=!0,window.jstiming.load.tick("firstScrollTime"))}window.addEventListener?window.addEventListener("scroll",g,!1):window.attachEvent("onscroll",g); })();

Monday, September 24, 2007

What To Expect This Week

After the explosive action last Tue when the rate cut was announced, the market was boring and pretty much drifted sideways on Thurs and Fri

The above S&P 500 chart shows we are in uptrend with higher highs and higher lows since Sep. Technically, we are now at the top end of the channel with resistance at 1530 and the chart points to potential pullback or sideways movement. But be it to the upside or downside, the index needs to break the Thurs-Fri range to see some real movement. Meanwhile, homebuilders LEN and KBH are announcing earnings this week. Let's see what they say.

Tue: Consumer Confidence, Existing Home Sales
Notable earnings: LEN

Durable Orders
Notable earnings: BBBY, PAYX

GDP, New Home Sales
Notable earnings: KBH

Personal Income and Personal Spending, Core PCE Index, Chicago PMI, Michigan Sentiment


Blogger Tony Chai said...

Hi SOT :

I wonder whether the current stock price has been priced into the home-builder stocks like LEN & KBH to have any significant effect on their price movement when they announce earnings this week.

Well, the housing sector is still not in good shape based on the housing starts & permits figures issued last week.

Yours Truly,

Tony Chai
My Options Trading Blog

4:04 PM  
Blogger lawrence said...

The market need to come down. If technology sector slow down or take a beating... woo hoo ... the market will jolly well come down. Technology sector save the dow from vomiting.


6:05 AM  
Blogger Simply Options Trader said...

Its another listless day on Mon, though we see some downside action in the afternoon, but overall still range bound.

I think the indices may chop around to move to the other end of the channel or experience some pullback

@Tony: Its hard to say, anything can happen after earnings,depending on their results, guidance and what co. say during conf call.

11:02 AM  

Post a Comment

<< Home