Market Direction Week of October 24, 2016©

Market Direction: BULLISH alert issued 6/2/2016 

Last Week Review: Stocks were broadly higher on the week as the Dow Jones Industrial Average increased marginally, the S&P 500 inched higher, and the technology-heavy NASDAQ posted solid gains. This dispersion was mostly driven by the beginning of the third quarter's earnings season where several technology companies beat earnings expectations while some very large companies failed to meet them.

How the market finished last week, the S&P 500 up 0.4%, the Nasdaq up 0.8%, and the Dow flat 0.0%.

This Week: Q3 earnings season began to ramp-up this past week with some solid reports from many financial stocks, transportation stocks and a few others. With only about 12% of the companies in the S&P 500 reporting, you can see that the results have been quite good so far.

It is a busy week for both economic and corporate data, as US earnings season grinds on. We get plenty of news from all parts of the S&P 500, and UK companies - including the banking sector - are also in plentiful supply this week. So far earnings season has given hope that the long recession in US corporate profits is at an end, with the improved outlook providing a tailwind for stocks.

Economic Calendar: PMI Manufacturing Index Flash (10/24), Consumer Confidence (10/25), Durable Goods(10/27), GDP (10/28)

Some of the major earnings announcements on deck: V, CMG, CAT, AAPL, BIIB.

$tockMarketDirection proprietary model is currently BULLISH. We strongly encourage you to monitor positions closely, exercise proper money management strategies and follow us at $tockMarketDirection for ALERTS we may issue advising a change in the current market direction. Stay tuned and follow us. If you have a testimonial or comment of how this website has helped you we would like to know, write us. Share with a friend. Cha-ching.

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