Preview for the week Monday 14 Sept to Friday 18 Sept, 2015
Economic Data
Monday (14 Sept) :
- No Economic Data
- Retail Sales : 0.3% (Prior 0.6%)
- Retail Sales ex-auto : 0.2% (Prior 0.4%)
- Empire Manufacturing : 0.3 (Prior -14.9)
- Industrial Production : -0.2% (Prior 0.6%)
- Capacity Utilization : 77.8% (Prior 78.0%)
- Business Inventories : 0.1% (Prior 0.8%)
- MBA Mortgage Index : (Prior -6.2%)
- CPI : -0.1% (Prior 0.1%)
- Core CPI : 0.1% (Prior 0.1%)
- NAHB Housing Market Index : 61 (Prior 61)
- Crude Inventories : (Prior 2.570M)
- Net Long-Term TIC Flows : (Prior $103.0B)
- Initial Claims : 275K (Prior 275K)
- Continuing Claims : 2254K (Prior 2260K)
- Housing Starts : 1160K (Prior 1206K)
- Building Permits : 1159K (Prior 1119K)
- Current Account Balance : -$112.2B (Prior -$113.3B)
- Philadelphia Fed : 6.5 (Prior 8.3)
- Natural Gas Inventories : (Prior 68 bcf)
- FOMC Rate Decision : 0.25% (Prior 0.25%)
- Leading Indicators : 0.2% (Prior -0.2%)
Earnings Highlights
Monday (14 Sept) :
BMO - None
AMC - STB
BMO - None
AMC - STB
Tuesday (15 Sept) :
BMO - NTWK
AMC - AVNW UNFI
Wednesday (16 Sept) :
BMO - ASNA CBRL FDX LITB
AMC - ALOG APOG ARCW CLC MLHR ORCL SANW
Thursday (17 Sept) :
BMO - MANU MCS RAD
AMC - ADBE MCFT
Friday (18 Sept) :
BMO - ZAYO
AMC - None
Summary
Market has been relatively flat to little upside last week. I still think that the bears are still somewhat in control and there is no much movement ahead of next week FOMC rate decision next week. Well that is a very strong market mover.
Most traders are paying very close attention to FOMC decision for interest rate on Thursday. It is no brainer to expect more volatility in the market. A million dollar question is whether we are seeing any rate hike here? There had been many speculation and uncertainty towards the Fed decision coming to this.
I am seeing continuation wedge pattern forming in the 3 main indices and I think it won't be long before we see a break down in the market.
Most traders are paying very close attention to FOMC decision for interest rate on Thursday. It is no brainer to expect more volatility in the market. A million dollar question is whether we are seeing any rate hike here? There had been many speculation and uncertainty towards the Fed decision coming to this.
I am seeing continuation wedge pattern forming in the 3 main indices and I think it won't be long before we see a break down in the market.
Direction for Monday 14 Sept, 2015: Down
Direction for the week Monday 14 Sept to Friday 18 Sept, 2015: Down
Direction for the week Monday 14 Sept to Friday 18 Sept, 2015: Down
2015 Daily Directional Accuracy: 90/142 (63.38%)
2015 Weekly Directional Accuracy: 21/34 (61.76%)
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