Market Direction Week of March 27, 2017©

Market Direction: BULLISH alert issued 11/10/2016 

Last Week Review: Stocks were lower and bonds were higher on the week, with most of the stock market's losses coming on Tuesday as investor angst grew with doubts about the passage of the health care bill in the House of Representatives. This week's decline was the worst of the year, and Tuesday's 1.2% decline was the largest daily decline since mid-October, a span of 109 trading days.

Equity markets have a positive bias early Friday morning as the Dow Jones Industrial Average (DJI) was last seen up 29 to 20,686, the NASDAQ Composite up 30 to 5,848 while the S&P 500 Index was tacking on 6 to 2,352. On the week however the SPX is down over 1% and looks like it is on track to post its third weekly decline of the year. The uncertainty around whether President Trump can get his healthcare bill through Republican-controlled Congress appears to be the catalyst for this week’s downdraft in equity markets. Investors aren’t necessarily concerned about whether the bill passes or not but are using the initiative as a proxy for Trump’s ability to deliver on his legislative agenda, which has been the primary market driver over since the election.

How the market finished last week, the S&P 500 down 1.4%, the Nasdaq down 1.2%, and the Dow down 1.5%.

This Week: The stock market tone for this week will likely be established by outcome of House vote on health care we could see some heightened volatility.

Another, big event of the week will be the article 50 notification by the UK. Given this has been expected, any significant reaction is unlikely, unless the reception in the EU is particularly strident.

Additionally, we have final revisions of UK and US GDP, while China’s PMI figures should drive activity.

Economic Calendar: Consumer Confidence (3/28), GDP (3/30), Personal Income (3/31), PCE Price Index (3/31), Michigan Sentiment (3/31)

Some of the major earnings announcements on deck: RHT, FDS, DRI, PLAY, LULU.

$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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