Market Direction Week of August 28, 2017©

Market Direction: BEARISH alert issued 8/10/2017

Stock on the Radar (STAR)© was launched 6/19/2017 Sunday evening. When there is a new stock recommendations for the week it is typically made available late Sunday, so investors can prepare to take a position when the market opens Monday for trading.

Last Week Review: Stocks finished higher for the week, led by the materials and telecom sectors, while consumer staples was the only decliner for the week. Sector leadership tends to alternate over time, which underscores the importance of ensuring that portfolios are diversified across sectors and subsectors.

Summer Is Nearly Over – Same for the Bull Market?

With a third of the year left, the market has turned in a strong performance so far in 2017. U.S. stocks sit near record levels, and international equities have logged double-digit gains for the first time since 2013. And despite the polarizing, if not chaotic, political atmosphere that has characterized much of the year, markets have posted healthy returns with only modest bouts of volatility. So where do we go from here?

How the market finished last week, the S&P 500 up 0.7%, the Nasdaq up 0.8%, and the Dow up 0.6%.

This Week: We’re going to get a lot more economic data next week and since it is the first Friday of the month we’ll be getting the highly monitored monthly Non-Farm payrolls report. The other two potential market-moving reports are Wednesday’s Q2 GDP (second estimate) and Thursday’s PCE Price Index (the Fed’s favorite inflation gauge).

Economic Calendar: Consumer Confidence (8/29), GDP (8/30), ADP Employment Report (8/30), Chicago PMI (8/31), Employment Report (9/1)

Some of the major earnings announcements on deck: BBY, ADI, CTRP, DG, PAWN.

$tockMarketDirection proprietary model is currently BEARISH. 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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