Weekend Update 1/24/2010 – No News Monday

As I sit down to watch the Bears and Packers, I filter through the weekend news and charts on my hacked and fully Android enabled Barnes & Nobel Nook saving the goodies and tossing the trash. $250 capacitive touch, yes sir.

One thing is clear – we still have some work to do in the markets before this is any more than a momentary test of support.   Channels and trends are still intact on the longer term charts, the the bears are howling on the stream about a 10% correction coming.  But that hasn't meant much, and nothing has changed, Fed POMO is in full effect, Euro zone is saddled with debt, the US is saddled with debt, and China is buying. 

More after the game.

Here are some charts if you aren't watching the game.


Bubble, Bubble, Chop, Chop

No new monday incoming.  Prepare to consolidate.


Weekly Economic Calendar
Date ET Release For Consensus Prior
Jan 25 09:00 Case-Shiller 20-city Index Nov NA -0.80%
Jan 25 10:00 Consumer Confidence Jan NA 52.5
Jan 25 10:00 FHFA Housing Price Index Nov NA 0.7%
Jan 26 07:00 MBA Mortgage Purchase Index 01/21 NA +5%
Jan 26 10:00 New Home Sales Dec 300K 290K
Jan 26 10:30 Crude Inventories 01/22 NA 2.62M
Jan 26 14:15 FOMC Rate Decision Jan 0.25% 0.25%
Jan 27 08:30 Initial Claims 01/22 NA 404K
Jan 27 08:30 Continuing Claims 01/22 NA 3861K
Jan 27 08:30 Durable Orders Dec 1.9% -0.3%
Jan 27 08:30 Durable Orders ex Transportation Dec NA 3.6%
Jan 27 10:00 Pending Home Sales Nov NA 3.5%
Jan 28 08:30 GDP-Adv. Q4 3.8% 2.6%
Jan 28 08:30 Chain Deflator-Adv. Q4 NA 2.1%
Jan 28 08:30 Employment Cost Index Q4 0.4% 0.4%
Jan 28 09:55 Michigan Sentiment – Final Jan NA 72.7


Posted in Futures, Stocks, Watchlist