Economic Calendar (be sure to choose the “Next Week” tab)
Earnings really kick off next with AA (Alcoa Inc). But for me, I am watching JPM (JP Morgan). I want to see where we really stand with financials and this will clear up the picture a LOT in my opinion.
Before I move on to other items for next week, how did we finish off Friday? It appears that money ran for the hills as folks finished up their profit taking (do you really think that the shorts put on new positions in to the close?). The $SPY on Friday – 3o minute chart:
Easy volume pattern to follow here each day, but the question is always this: is it Sell volume or Buy volume?
The SPY made an intraday Lower High and a Higher Low to close out Friday. Price now back under the Gap Up launch point from 9/26.
The 2nd largest Volume at Price bar resides in this price level, with a slight edge to Buy volume. Now on to next week again.
China is back from holiday and so a lot of emphasis will be placed on watching that market ramp back up. Will it be pent-up demand? Or will we see a continued down drift pick up right where things left off? Let’s see what the SSEC (Shanghai Se Composite) weekly chart looks like:
This chart shows a Double Bottom touch fast approaching. The reaction to that Horizontal Support line will be key. Battle Stations, Red Alert.
There you have it. 3 Things to keep on your radar, here is the Summary:
- Economic Calendar
- Earnings kick-off
- China market back in action