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WHAT’S ON TAP

22 November 2009 by Cullen Roche 4 Comments

Busy week on tap despite the holiday shortened trading week.   The light trading tends to give these holiday weeks a bull bias as sellers generally square away their concerns in advance of the holiday.  Since 1930 the week before Thanksgiving has had a bull bias of 0.6%.   Nonetheless, this week could prove more important than many previous Thanksgiving weeks as the market fights to get back over the 1,100 level and the bears appear to have gained some traction.  Let’s see what’s on tap:

Monday -Hewlett Packard and Analog Devices report earnings after the bell.  Existing home sales will be the market moving data of the day.

Existing Home Sales 10:00 AM ET

Tuesday -No major earnings reports, but the economic data will be front and center:

ICSC-Goldman Store Sales 7:45 AM ET

GDP 8:30 AM ET

Redbook8:55 AM ETS&P Case-Shiller HPI 9:00 AM ET

Consumer Confidence 10:00 AM ET

State Street Investor Confidence Index 10:00 AM ET

Wednesday -Deere and Tiffanys report earnings before the bell.  Both should be market moving.  In addition, economic news should be market moving:

Durable Goods Orders 8:30 AM ET

Personal Income and Outlays 8:30 AM ET

Jobless Claims 8:30 AM ET

Consumer Sentiment 9:55 AM ET

New Home Sales 10:00 AM ET

EIA Petroleum Status Report 10:30 AM ET

Thursday –

US Holiday:  Thanksgiving Day – MARKETS ARE CLOSED

Friday –

No Market moving economic news.

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Comments
  • James

    This week probably won’t favor bulls. I am expecting an up day tomorrow and then downwards pressure. I’ll be buying puts tomorrow.

    11/22/2009 at 7:28 PM
    • Cullen Roche TPC

      Looks like another Monday morning ramp if the futures have anything to say about it. I haven’t checked the news, but my assumption is there is none….

      11/22/2009 at 7:46 PM
      • James

        No there isn’t any news but the markets need to correct before going higher. It should go down at least 5%. Unless you think the FED maybe continuing to buy mortgage backed securities good news…I find it bad news considering nobody else wants them.

        11/22/2009 at 7:55 PM
        • Cullen Roche TPC

          Dollar weakness appears to be the only explanation for the strength in futures. Japan is down, HK trading a bit higher….Will we get another 1% move tomorrow on no news like we have the last few Mondays?

          11/22/2009 at 8:36 PM