MONDAY: All ears will be on Janet Yellen today as she tries to dance around Friday’s abysmal Employment Situation Report without scaring anyone. The rest of the week has little of interest as the FOMC meets the following week, but it looks like a rate hike will be off the table at that meeting
TUESDAY: The market seemed to like Yellen’s hedging yesterday and the feeling is continuing as the morning’s futures are unfolding. Undoubtedly, traders still prefer the idea of a gift from the FOMC rather than an economy that’s actually humming along
WEDNESDAY: Markets gave up some of Monday’s Yellen inspired confusing optimism near the end of the day. This morning’s futures look flat, but standing 1% below all time highs, that’s not a bad place to be for any kind of big move. Guessing the direction is the tricky part, though.
THURSDAY: With 3 straight days of gains now leaving us less than 1% from S&P 500 highs, today may be a day of rest ahead of next week’s FOMC and no other real news between now and then.
FRIDAY:. Yesterday ending the 3 day gaining streak and it looks as if that decline may accelerate to close the week, as oil again takes center stage and is sharply lower
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS