Leftover selling Overseas and mixed data but Euro earnings
were weak. U.S. earnings have been mixed…S&P was down 6.5 handles
Macro Data is coming next week from the Fed which is making trading choppy.
The market held 1675.30 and its been a roller coaster. The Russel, Nasdaq and SPU found
footing in the afternoon.
New Home sales haveblown out expectations and New Home builders are over the hump,
it seems. The ETF Housing Sector (XHB) went down because rates have been creeping up on the 10 and 30 year bond.
Facebook rose $7.84 to 34.35/share after surprising on the
up-side with their mobile and advertising revenue
All in all, it was a quiet day. All eyes are on next week. What to look for: 1687-89 on the upside 1676-77 on the downside. On the downside: 1671-73…next 65
Opening Range 1677.50-1676.50
MOC $430 million to sell
Only 9 earnings left
Michigan Sentiment report