Friday's Nonfarm payroll numbers was largely disappointing and with the market closed on Friday, we saw the huge tanked in the futures. It will not be surprised if we see more red when the market opens on Monday.
To aggravate the situation, there seems to be no turning point in the Greece's debt crisis and with that the Eurozone might hit with a shit in the face. I am not holding much optimism to the market next week.
To aggravate the situation, there seems to be no turning point in the Greece's debt crisis and with that the Eurozone might hit with a shit in the face. I am not holding much optimism to the market next week.
Macroeconomic Data
Preview for the week Monday 6 Apr to Friday 10 Apr, 2015
Economic DataMonday (6 Apr) :
- ISM Services : 56.9 (Prior 56.9)
- JOLTS - Job Openings : (Prior 4.998M)
- Consumer Credit : $11.5B (Prior $11.6B)
- MBA Mortgage Index : (Prior 4.6%)
- Crude Inventories : (Prior 4.766M)
- FOMC Minutes
- Initial Claims : 287K (Prior 268K)
- Continuing Claims : 2407K (Prior 2325K)
- Wholesale Inventories : 0.3% (Prior 0.3%)
- Natural Gas Inventories : (Prior -18 bcf)
- Export Prices ex-agri : (Prior 0.2%)
- Import Prices ex-oil : (Prior -0.3%)
- Treasury Budget : (Prior -$36.9B)
Earnings Highlights
Monday (6 Apr) :
BMO - OCN
AMC - SHLM PWRD
BMO - OCN
AMC - SHLM PWRD
Tuesday (7 Apr) :
BMO - GBX ISCA SCHN
AMC - PLAY TISI
Wednesday (8 Apr) :
BMO - FDO GPN MSM OMN RAD RPM
AMC - AA APOG BBBY DDC MG PIR RECN WDFC
Thursday (9 Apr) :
BMO - STZ SYRG WBA
AMC - ANGO HGR PSMT RT TCPI ZEP
Friday (10 Apr) :
BMO - AZZ
AMC - None Scheduled
Summary
Like I mentioned at the start, I am not optimistic on the market next week due to several factors from the Nonfarm payroll numbers and the debt crisis in Greece. We are going to expect the FOMC minutes on Wednesday that might throw the technicals out of the window also. It is possible that the volatility still continue.
In terms of technicals, it looks as though the market is going sideway at the moment. But looking at the current situation, I doubt we are going to rely much on the technical analysis. April is usually the most bullish month of the year but things are looking bad (or worse) right now and maybe we might see an early Sell in May...
In terms of technicals, it looks as though the market is going sideway at the moment. But looking at the current situation, I doubt we are going to rely much on the technical analysis. April is usually the most bullish month of the year but things are looking bad (or worse) right now and maybe we might see an early Sell in May...
Direction for Monday 6 Apr, 2015; Down
Direction for the week Monday 6 Apr to Friday 10 Apr, 2015; Down
Direction for the week Monday 6 Apr to Friday 10 Apr, 2015; Down
2015 Daily Directional Accuracy: 24/47 (51.06%)
2015 Weekly Directional Accuracy: 7/11 (63.64%)
2015 Weekly Directional Accuracy: 7/11 (63.64%)
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