Monday, September 27, 2010

Market comments for Sept. 27th and the week

I had been away this weekend, hence the lack of any updates. But here in the table below are the expected Economic indicators to be released this week. As usual, Initial Jobless Claims on Thursday is very important. Expectations are for 450K Initial Claims for the week. Last week the data surprised all by coming in at 465K. If this week rises at or above 465K, we could see a sell-off.

Also important this week will be the Consumer Confidence number and the 3rd estimate of Q2 GDP. Personal Income and Personal Spending is also important. However, having said that, the markets appear not to be data driven but investor psychology driven. Notice I did not say Consumer Confidence or Univ. of Michigan Sentiment Index. The Bulls want to drive this market up because they see no problem out there that the Fed can't handle (substitute the word "handle" with the word "manipulate".

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