The Week Ahead: Slow growth continues to plague the U.S. economy. An additional 4 million jobs have been lost since the beginning of the Obama Administration. Retail Sales which makes up 2/3 of GDP will be released on Tuesday and afterwards Business Inventories will be announced. The MBA Purchase Applications will measure the health of the housing market on Wednesday with the Industrial Production report to follow. By Thursday, markets will focus on the Producer Price Index (PPI) then on Friday the Consumer Price Index (CPI) followed by Consumer Sentiment.
Stocks to Watch: PG&E Corp. (PCG) fell 8.35% on ten times normal volume after a gas line explosion in California. The stock was near its 2007 high before the incident happened. Nokia (NOK) has a new CEO aboard and a new N8 Smart Phone coming out later this week pushing the stock up nearly 2%. The company has the largest phone software business worldwide. Watson Pharmaceutical (WPI) dropped 4% after a competitor's potassium drug was approved by the FDA for return to the market.
Special Note: An upward wedge pattern or triangle on the DOW and S&P 500 in recent days is similar to a larger wedge that occurred from July 13 to August 9 that concluded at the most recent peak last month. Look for the completion of this very short term pattern this week with a stab above the 200 day moving average followed by a protracted sell off. Are stock analysts bullish or bearish? Bloomberg recently reported that 29% of brokerage firm ratings of stocks were buys while over 54% were holds and only 5% were sells.
Check out NobleTrading's new earnings calendar, upgrades and downgrades, and analyst coverages.
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Stocks to Watch: PG&E Corp. (PCG) fell 8.35% on ten times normal volume after a gas line explosion in California. The stock was near its 2007 high before the incident happened. Nokia (NOK) has a new CEO aboard and a new N8 Smart Phone coming out later this week pushing the stock up nearly 2%. The company has the largest phone software business worldwide. Watson Pharmaceutical (WPI) dropped 4% after a competitor's potassium drug was approved by the FDA for return to the market.
Special Note: An upward wedge pattern or triangle on the DOW and S&P 500 in recent days is similar to a larger wedge that occurred from July 13 to August 9 that concluded at the most recent peak last month. Look for the completion of this very short term pattern this week with a stab above the 200 day moving average followed by a protracted sell off. Are stock analysts bullish or bearish? Bloomberg recently reported that 29% of brokerage firm ratings of stocks were buys while over 54% were holds and only 5% were sells.
Check out NobleTrading's new earnings calendar, upgrades and downgrades, and analyst coverages.
Click Here To Open An Account
NobleTrading.com Offers Online Stock Trading, Online Options Trading,
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage
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