Market Direction Week of October 3, 2016

Market Direction: BULLISH alert issued 6/2/2016

Last Week Review: Stocks were higher on the week, but took a volatile path to get there as the presidential debate, sharply rising oil prices, and growing worries about Deutsche Bank all played their role in pushing stocks both up and down. These events, along with others, will likely keep volatility elevated in the short-term. Make it easier to stomach this potential volatility by rebalancing your portfolio to the mix of equity and fixed income that aligns with your comfort with risk and long-term goals.

How the market finished last week, the S&P 500 up 0.2%, the Nasdaq up 0.1%, and the Dow up 0.3%.

This Week: Next week’s focus will be the ISM reports, September payroll numbers, and the ongoing news in financials and the oil markets. More volatility seems likely.

The RBA meeting is the sole central bank event of note, which provides some much-needed relief after the excitement of past weeks. UK data also takes the stage, with PMI figures helping to provide yet more information on the post-Brexit vote reality, and while they are likely to show some softness after the resounding bounce of August, the overall picture is likely to suggest a resilient economy. 

Economic Calendar: ISM Mfg Index (10/3), ADP Employment Report (10/5), ISM Non Mfg Index (10/5), Employment Report (10/7)

Some of the major earnings announcements on deck: DRI, STZ, GPN, FAST, JPM.

$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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