Let The Rally Play Out - Economic News Will Start To Weigh On The Market Next Week!
This week, a light economic calendar and decent European bond auctions allowed the market to focus on earnings. Those two dark clouds will reappear shortly. Economic conditions are gradually deteriorating and fears of a double dip recession have surfaced. Next week, new home sales, consumer confidence, durable goods orders, initial claims, the Beige Book, Q2 GDP, Chicago PMI and consumer sentiment will be released. In two weeks, ISM manufacturing, factory orders, ADP employment index, ISM services, initial claims and the Unemployment Report will be released. This will be a minefield for the market to wade through and I believe prices will …
July 22, 2010
• Posted in: Options
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