ECONOMIC CALENDAR:
Tuesday Aug10, 2:15PM ET – FOMC Announcement
Wednesday Aug11, 8:30AM ET – International Trade
Friday Aug13, 8:30AM ET – CPI
Friday Aug13, 8:30AM ET – Retail Sales
EARNINGS:
Monday: Tyson Foods (TSN)
Tuesday: Cree (CREE), Walt Disney (DIS)
Wednesday: Cisco Systems (CSCO), Macy’s (M)
Thursday: Autodesk (ADSK), Evergreen Energy (EEE), Kohls (KSS), Nordstrom (JWN), NVIDIA (NVDA), Sara Lee (SLE)
Friday: JCPenney (JCP)
conshmillo 4:11 am on August 9, 2010 546 days ago Reply
Shanghai up. London sharply up at this moment. As for this week, as much as I hate to say it, I don’t see how markets could go higher. Actually I expect markets this week to end lower. We have fed talking on Tuesday (I can’t imagine them to be saying anything that would lift markets) and CPI / Retail Sales reports on Friday. From the 3 market indexes I watch, only Shanghai may have one more kick in it, before MACD turns negative. But even if it did, it still is already at overbought levels. DJIA, London FTSE 100, are both overbought and crossed negative on stochastic. I expect them to pull back.
AAPL crossed bearish on stochastic on Friday too, and unless we see some earth shattering news from Apple, I expect it to pull back this week too. 255 is the support and if that one doesn’t hold we could see serious drop to 245 levels. I certainly wish I am wrong on this one as I have bunch of 280 calls expiring on August 20th.
conshmillo 2:54 pm on August 14, 2010 540 days ago Reply
Both markets and AAPL behaved the way I expected them to behave this week. AAPL pulled back all the way to 246.12 on Thursday and closed the week at 249.10. DJIA dropped 351.47 points from 10,654.62 to 10,303.15. Both, Shanghai and London dropped too, but less than US indexes.