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Monday, November 19, 2007

Bullishness Ahead of Thanksgiving

Above daily chart of S&P 500. We are in a short term downtrend but seeing strong support at 1440. Upcoming week is a short week with Thanksgiving holiday falling on Thursday. I expect the second half of the week to be quiet. Typically, we see the bulls join in the celebration ahead of the Thanksgiving, unless of course, we hear the "C" word again this week.

On the earnings front, we see more retailers announcing results this week.

Mon:
Notable earnings: HPQ, MDT, JWN, LOW

Tue: Building Permit, Housing Starts, FOMC Minutes
Notable earnings: BKS, BJ, BCSI, BGP, CMED, DKS, FMCN, GME, GYMB, WFMI, TGT, SKS

Wed: Leading Indicators, Mich-Sentiment
Notable earnings: ANF, DE, PLCE

Thurs: Thanksgiving Holiday (markets are closed)

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