Sunday, August 15, 2010

Next weeks' market guessing - Aug 15,2010


Next week is the Aug Option Expiration week. The above weekly S &P 500 Candle Sticks with Bearish Engulfing pattern didn't show bull friendly. And the RSI is TOPPED,, which may indicate not too much bullish next week.

Historically the Monday is bullish. My guess is that the first half of the week may still be greenish and then trending down.

Next week's Calendar:

Monday

  • The New York Fed will release its Empire State Manufacturing Survey for August on Monday. Agilent Technologies Inc. (A), Lowe's Companies Inc. (LOW), Sysco Corp. (SYY), and Urban Outfitters Inc. (URBN) will release their quarterly earnings reports.

Tuesday

  • Traders will have a lot of economic data to consider on Tuesday. The Commerce Department will release reports on housing starts and building permits for July, while the Labor Department will supply July readings on the Producer Price Index (PPI) and the core PPI. Meanwhile, the Federal Reserve will report on industrial production in July. Abercrombie & Fitch Co. (ANF), The Home Depot Inc. (HD), Saks Inc. (SKS), Wal-Mart Stores Inc. (WMT), and Analog Devices Inc. (ADI) are scheduled to report earnings.

Wednesday

  • The usual weekly report on U.S. petroleum supplies is due on Wednesday. BJ's Wholesale Club Inc. (BJ), Chico's FAS Inc. (CHS), Target Corp. (TGT), Applied Materials Inc. (AMAT), Brocade Communications Systems Inc. (BRCD), Hot Topic Inc. (HOTT), and Limited Brands Inc. (LTD) will post their quarterly results.

Thursday

  • The weekly report on initial jobless claims will be released on Thursday, along with the Conference Board's Leading Indicators Index for July, and the Philadelphia Fed Index for August. Dick's Sporting Goods Inc. (DKS), Dollar Tree Inc. (DLTR), GameStop Corp. (GME), Stein Mart Inc. (SMRT), Yingli Green Energy Holding Co. Ltd. (YGE), Aeropostale Inc. (ARO), Blue Coat Systems Inc. (BCSI), Dell Inc. (DELL), The Gap Inc. (GPS), Hewlett-Packard Co. (HPQ), Intuit Co. (INTU), Marvell Technology Group Ltd. (MRVL) and salesforce.com inc. (CRM) will report earnings.

Friday

  • There are no major economic reports scheduled for Friday. Rounding out earnings for the week will be AnnTaylor Stores Corp. (ANN) and Hormel Foods Corp. (HRL).

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