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

Monday, January 28, 2008

Indices Testing Resistance

Above S&P 500 showing 1360-1370 level which was previously a support now turned resistance. Technicals are pointing to the downside, at least for these 2 days prior to the Fed meeting on Wed. Tons of data coming out on the economic front and earnings reporting this week:

Mon:
New Home Sales
Notable earnings: ARG, BDK, HAL, MCD, MTH, SNDK, STLD, VMW

Tue: Durable Orders, Consumer Confidence
Notable earnings: MMM, BNI, CRS, CFC, CTX, JLL, LXK, OXY, OXPS, DOW, TRMB, X, VLO, YHOO, ZMH, WBSN

Wed: ADP employment, GDP, FOMC policy statement
Notable earnings: MO, AMZN, BHI, BOBJ, ADS, CNQR, CEG, CVD, ESLR, EXP, ITW, MRK, PHM, NVLS, SBUX, BA, UPS

Thurs: Core PCE index, Personal Income, Personal Spending, Chicago PMI
Notable earnings: AFFX, APA, BEBE, CAM, HOT, CELG, DRIV, GR, GOOG, GYI, TSO, HOLX, ICE, LLL, MA, NDAQ, UA, MBI, MEE, OI, PG, SNE, YRCW

Fri: Unemployment, ISM manufacturing index, Consumer sentiment, Construction spending
Notable earnings: ACI, CVX, CMI, XOM, GCI, TDW, EL, R, OSK

My watchlist for the week (some pending confirmation):
Bearish: RL, XLF, LIZ, ATI, KSS, SHLD
Bullish: HWAY, PPDI, ESRX

1 Comments:

Blogger Tony Chai said...

Hi :

The market is expecting at least a 50 basis point cut from the FEDS this week.

Really need to see how the market reacts to this on Wednesday.

Regards,

Tony Chai
Options Trading Blog

10:33 AM  

Post a Comment

<< Home