Market Direction Week of December 26, 2016©

Market Direction: BULLISH alert issued 11/10/2016

Last Week Review: Stocks reached new all-time highs midweek, but the Dow Jones Industrial Average fell just short of reaching the 20,000 milestone. While the pace of stock gains has slowed over the past two weeks, the Dow has still logged gains for the last seven weeks. Investors are rightly optimistic about the possibility of more pro-growth policies worldwide in 2017, but they should not expect stocks to move higher every week. With greater uncertainty ahead of us, we expect a return to normal volatility in 2017, with at least one 10% stock market correction as well as several smaller pullbacks.

How the market finished last week, the S&P 500 up 0.3%, the Nasdaq up 0.5%, and the Dow up 0.5%.

This Week: Unsurprisingly, it is not a busy week, with company data entirely absent. The Japanese, however, show a commendable devotion to duty with the release of data throughout the week that may well have an impact given the light volumes.

Aside from this, crude traders will need to watch out for the EIA figures, which come out a day later than normal. Markets should remain quiet, with volumes low across most asset classes. 

Economic Calendar: Consumer Confidence (12/27), International Trade in Goods (12/29), Chicago PMI (12/30)

 

Some of the major earnings announcements on deck: No earnings announcements this week.

$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.

Related Link: http://www.stockmarket-direction.com/