Down on Monday US Futures and Markets Indicators
No strong feeling as to direction today, but expect Market to trend Down this week,
so will probably go with down each day this week unless there's significant reason
to be bullish.
MACD, MACD Histogram and Stochastic trending downward
indicating futher correction down to around 10,422
The Dow's 50 Day's Moving Average has offered good support
since March 2003.
"Historically, the last week of February does tend to spark a decline,
but nothing severe. And by the onset of March, stocks tend to move higher again."
-John Bollinger, the head of Bollinger Capital management
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Key events in the week ahead
* Tuesday the Conference Board releases the February reading on its consumer price index.
Economists polled by Briefing.com expect it to fall to 93 against January's 96.8.
* Economists expect January existing home sales, due out Wednesday, fell to an annual pace
of 6.45 million versus December's 6.47 million.
* January durable goods orders, due out Thursday, are expected to show a rise of 1.4 percent
compared with a December gain of 0.3 percent.
* Economists expect that January new home sales, due Thursday, came in at an annual pace of
1.095 million versus December's 1.06 million.
* The government's second take on fourth quarter gross domestic product comes out Friday.
Economists expect annualized growth will be revised down from the initial take of 4 percent
due to 3.8 percent, due to a wider-than-expected trade gap.
* The University of Michigan releases its final reading on its February consumer sentiment index Friday.
The initial reading was 93.1.
* Economists expect the February Chicago Purchasing Managers' index, due Friday, to slip to 63.5 from
January's 65.9. Any number over 50 represents manufacturing growth in the heavily industrial Chicago area.
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good luck today,
baz
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