The budget debate continues to influence the market and it appears there is very little chance this issue will be resolved in the near future. While the partial government shutdown does not seem to have significantly impacted the market, we anticipate more volatility and possible downside this coming week. The other issue at hand has to do with the debt ceiling. This has the potential to jolt the market and generate a major pullback if this is not successfully dealt with by congress.
Reports this week include: FOMC minutes (10/9), Treasury Budget (10/10) and Retail Sales (10/11).
Reports this week include: FOMC minutes (10/9), Treasury Budget (10/10) and Retail Sales (10/11).
Some of the major earnings announcements on deck: The first of the third quarter announcements begin this week with a few major companies: JP Morgan Chase, Wells Fargo and Alcoa.
$tockMarketDirection is in a Bullish Posture. We
strongly encourage our many bloggers/followers to monitor positions
closely, exercise proper money management strategies and to monitor
$tockMarketDirection for ALERTS that we may issue advising of a change
in our current bullish posture. Cha-ching.
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