Monday brings with it the start of the November option cycle and thus I thought I’d share some of the levels I’ll be watching. Below is a chart of last week’s price action (always a great place to start when assessing current value) which shows the $SPY closing above the weekly volume weighted average price
It’s all about the jobs this week with the ADP on Wednesday and non-farm payrolls on Friday. Alcoa ($AA) reports on Thursday after the close to officially start earnings season. However, we have about 3 weeks before a clear picture of earnings season performance will be discernible. Here’s the complete economic calendar for this week.
September has been a mixed bag but appears to be on track for some decent gains in 2010. As I pointed out last week, I thought the market would move higher and “prairie dog” above the 114 level. I will admit that I wasn’t expecting what happened on Friday, although I was looking for a
The $SPY finds itself at the proverbial crossroads and it seems that everyone has an opinion of what’s about to occur so I thought I’d muddy the water a bit more (that should fulfill my blues reference quota for the quarter). Below are the weekly price targets for the broader index and a few other
Weekly Thoughts
It doesn’t get much better than option expiration week. Throw in a nice little pullback and increased volatility and you’ve got a market again. Lots of economic data coming out this week starting Monday with retail sales. Tuesday has the Producer Price Index (PPI) and Wednesday brings the Consumer Price Index (CPI) both of which