Market Direction Week of January 15, 2017©

Market Direction: BULLISH alert issued 11/10/2016

Last Week Review: With only a week left until the Presidential inauguration, equities remain in a topping pattern near record highs.

Despite 4 consecutive up days, last week the indicators showed that the market was due for a small pullback. I’d say the indicators were exactly right as that pullback began Monday morning (1/9). As I discussed last week, the closer we get to the 1/20 inauguration, the greater the risk of a larger pullback.

How the market finished last week, the S&P 500 down 0.1%, the Nasdaq up 1.0%, and the Dow down 0.4%.

This Week: Q4 earnings season began this week and some of the first companies to report were big financials. It is not too surprising that all of them exceeded estimates, given the sharp rise in interest rates during Q4. 

U.S. stocks were marginally lower on the week as the beginning of the fourth quarter's earnings season and political headlines captured investors' attention. While aggregate index earnings are expected to rise, not all companies will meet analysts' projections.

Economic Calendar: Empire State Mfg Survey (1/17), Consumer Price Index (1/18), Industrial Production (1/18), Consumer Sentiment (1/13)

Some of the major earnings announcements on deck: GS, NFLX, UNP, ALK, GE.

$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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