The weekly Report & Event Calendar is available through the link in the right hand column. The Technical Projections and Select Comments are already available as well in the calendar section this week as well. The Summary Perspective on Key Influences will be posted later this evening, and we hope you find that useful as well.
It’s another critical early- to mid-week decision horizon this week. Not to say that there are no important influences at the end of the week as well. Especially the extensive government bond auctions and political influences out of Europe on Thursday. Yet, Fed Chairman Bernanke’s Senate testimony Tuesday will likely be very important in light of the focus on the US as the only reasonably likely strong economic influence in the current global environment. While we feel the optimists regarding immediate further QE are likely to be disappointed, it is still possible the equities will squeeze up into the early part of tomorrow’s testimony and Q&A. After that, the markets may well decide to get more aggressive in either direction.
And in any event that will be a major influence on the other asset classes as well.
General Market Observations
September S&P 500 future has already pushed back up into the more prominent congestion from last summer in the 1,350-55 range. Much below the 1,338 repeated Tolerance of that area will likely trigger another fairly aggressive selloff.
Thanks for your interest.
