The Week Ahead: Shortened Trading Week Due To Thanksgiving
The, Russell 2000, NASDAQ 100, S&P 100 and the Dow Jones Industrial Average were lower for the week. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average and the S&P 100 remain positive despite moving into the monthly DMA Channel across the board. Meanwhile, the Russell 2000 is now negative as it is below the monthly DMA Channel.
1.Geopolitical and Fiscal Events. Monday sees Federal Reserve New York President John Williams speak. Wednesday sees the European Commission comment on Italy’s revised budget. 2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as housing starts, durable goods, existing home sales, leading indicators and Michigan Sentiment. 3.Earnings Releases. Notable releases this upcoming week include INTU JD MDT LOW DE WB SINA COL PDCO.
Monday, November 19
No events of note.
Tuesday, November 20
October Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,230,000 from 1,20,000.
Wednesday, November 21
The European Commission (EC) comments on Italy’s revised budget which the EC rejected last month.
August Durable Goods are due out at 8:30 a.m. EDT and are expected to fall to -2.5% from 0.7%.
October Existing Home Sales are due out at 10:00 a.m. EDT and are expected to remain at 5,150,000.
October Leading Indicators are released at 10:00 a.m. EDT and are expected to fall to 0.1% from 0.5%.
November Michigan Sentiment is released at 10:00 a.m. EDT and is expected to remain at 98.3.
Thursday, November 22
U.S. Markets are closed for Thanksgiving.
Friday, November 23
U.S. Markets close at 1:00 p.m. EDT while the U.S. Bond Market closes at 2:00 p.m. EDT.
November Euro-zone Markit Composite PMI Flash and the November German Markit Composite PMI Flash are out early Friday morning
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