Market Direction Week of March 6, 2017©

Market Direction: BULLISH alert issued 11/10/2016

Last Week Review: U.S. stocks increased for the fourth straight week and closed at record highs on Wednesday as economic data continued to come in better than expected. Consumer confidence reached another high-water mark for the current economic expansion, and the ISM Non-manufacturing Index, which measures business activity and employment trends, rose to levels not seen since October 2015. Members of the Federal Reserve (Fed) have taken note of these positive surprises, and many have stated that a short-term interest rate increase would be appropriate at its next meeting on March 15.

While volatility and risk are often synonymous in the marketplace, this past week was a good reminder that volatility can happen in either direction.

How the market finished last week, the S&P 500 up 0.7%, the Nasdaq up 0.4%, and the Dow up 0.9%.

This Week: The main events of this week will be the European Central Bank meeting and the US jobs report. The former will be vital for its discussion of QE and whether the bank is looking to taper bond purchases now CPI has begun to tick up.

The jobs report will be particularly useful given that March rate hike odds have surged over the past week. Key UK earnings next week will be insurer Admiral, while Morrisons becomes the first UK supermarket to unveil full-year earnings.

Economic Calendar: Factory Orders (3/6), International Trade (3/7), Consumer Credit (3/7), Import and Export Prices (3/9), Employment Report (3/10)

Some of the major earnings announcements on deck: DKS, LGIH, ULTA, PAY.

$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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