And the markets are back! Well, back to where we were in the middle of July but hey, it does feel like we had a rally, doesn't it? As noted yesterday, 4,400 on the S&P 500 is only the Strong Bounce Line as we have fallen from 4,550 so there's still 150-points to go before we are back to the August highs – so let's not get too excited that we're up for the week . A strong bounce, however, was the minimum goal for this week to keep the rally alive – so we're forced to remain neutral now and see how next week will play out – but below that line is no longer an option for a "healthy" market. Our 2-day rally has been on very low volume. Next week we get CPI, PPI, Retail Sales and Consumer Sentiment reports, and Earnings Season kicks off Wednesday night with reports from BLK, DAL, FRC and JPM with many banks following Thursday and Friday. Walgreens (WBA) reports on Thursday morning and I think they'll beat the $1.03 that's expected but, even if they don't – those are nice quarterly earnings against $47.85 shares in what is still one of our favorite value stocks: IN PROGRESS
And the markets are back!
Well, back to where we were in the middle of July but hey, it does feel like we had a rally, doesn't it? As noted yesterday, 4,400 on the S&P 500 is only the Strong Bounce Line as we have fallen from 4,550 so there's still 150-points to go before we are back to the August highs – so let's not get too excited that we're up for the week.
A strong bounce, however, was the minimum goal for this week to keep the rally alive – so we're forced to remain neutral now and see how next week will play out – but below that line is no longer an option for a "healthy" market.
Our 2-day rally has been on very low volume. Next week we get CPI, PPI, Retail Sales and Consumer Sentiment reports, and Earnings Season kicks off Wednesday night with reports from BLK, DAL, FRC and JPM with many banks following Thursday and Friday. Walgreens (WBA) reports on Thursday morning and I think they'll beat the $1.03 that's expected but, even if they don't – those are nice quarterly earnings against $47.85 shares in what is still one of our favorite value stocks:
IN PROGRESS
