Market Direction Week of February 5, 2017©

Market Direction: BULLISH alert issued 11/10/2016

Last Week Review: After a travel ban and global protests finally rattled equities, a strong labor market and a re-focus on the pro-business agenda lifts spirits once again.

Stock indexes were mostly unchanged on the week, but it took almost a 1% rally on Friday to get there. A strong jobs report and an executive order signed by President Trump that aimed to roll back financial industry regulation pushed stocks higher to end the week. Make sure you own a variety of asset classes to prepare for higher market volatility like we experienced this week.

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

This Week: A quieter week on the economic front nonetheless has an RBA meeting, a China services PMI and a host of trade balances. This will help piece together the overall impact of FX movements, including the ongoing decline of the US dollar from its highs around a month ago. We also receive a report from the International Energy Administration that should provide further light on whether the OPEC production cuts are being outweighed by rising US production. 

Economic Calendar: International Trade (2/7), Consumer Credit (2/7), JOLTS (2/7), Import and Export Prices (2/10), Consumer Sentiment (2/10)

Some of the major earnings announcements on deck: KO, GILD, DIS, SAVE, ALK.

$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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