It was a bearish week for US equity indexes, with net weekly declines ranging from -3.8% (R2K), -3.6% (Nasdaq comp'), -2.9% (SPX), -2.5% (NYSE comp'), -2.3% (Trans), to -1.9% (Dow). Near term outlook is bearish.
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
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Summary
All six US equity indexes were very significantly net lower for the week.
The R2K lead the way lower, with the Dow most resilient.
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Looking ahead
Earnings:
M - THO
T - CTAS, FERG, COST, AIR
W - PAYX, MU, FUL
T - ACN, KMX, JBL, NKE, BB, MTN
F - CCL
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Econ-data/events
M - -
T - New home sales, Case-Shiller HPI, consumer conf'
W - Durable goods orders, EIA Pet'
T - Weekly jobs, GDP Q2 (print'3)
F - Pers' income/spending, PCE, Intl' trade,
As Friday Sept'29th is the last trading day of the month and Q3, I'd look for very dynamic price action on high vol'.
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Final note
I will merely note... the next six trading days could be pretty incredible, and besides... who doesn't love some market drama?
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Have
a good weekend
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*the next post on this page will likely appear 4.20pm EST on Monday.
