Big Weekend Ahead

posted Jul 28, 2014, 10:04 AM by Katie Shook   [ updated Jul 28, 2014, 10:04 AM ]
Starting Wednesday we’ll get GDP numbers and hear from the FOMC.  Then we get jobs numbers Thursday and Emloyment, Manufacturing, Personal Income & Outlays, Sentiment, and Construction Spending numbers on Friday.

I keep asking myself:  What could drive this market higher?  We’ve now had nearly the entire month of July to go from S&P500 at 1962 to 1978?  I hope we’re not about to experience a 2011 August…

Look for Monday and Tuesday to be potential recovery days.  Wednesday through Friday will likely set the tone for this market.  Will we test 2000 or fall below 1952?  A breach of 1952 will likely signal a correction (in which case 1900 support is the next area to watch).  A push above 2000 and we’re likely to get another bull-push that could drive this thing closer to up…  well, more.  IF we cross that bridge, that’s the kind of analysis I’d like to serve up.  As crazy as it sounds, 2160 is not out of the question.  But let’s not put the cart before the horse just yet…

Daily Digits

Daily Digits 7/28/14

Weekly Estimated Range

Weeklies 7/28/14

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