Bloomberg.com: Economic Calendar
ISM on Monday, oil inventories on Wednesday and initial claims on Thursday will give us more clues next week. We're done with end of quarter noise, the DOW closed bullishly above 200 dma and SPX above 50 dma. Bulls need to hold on to these levels. A drop in oil could be a near-term catalyst, but already there are signs that folks will be struggling with their heating oil bills. A quick scan of online financial media shows lots of "Santa rally" talk and fourth quarter optimism. Equity pc ratios show the same trend. Is everyone gambling that the worst is over? Bad bet, I think. I know I keep sounding the alarm since late July, but I have been right so far and I don't see weekly oscillators anywhere near a bottom yet. Here is the pc ratio chart:
http://www.vtoreport.com/sentiment/putcall.htm
ISM on Monday, oil inventories on Wednesday and initial claims on Thursday will give us more clues next week. We're done with end of quarter noise, the DOW closed bullishly above 200 dma and SPX above 50 dma. Bulls need to hold on to these levels. A drop in oil could be a near-term catalyst, but already there are signs that folks will be struggling with their heating oil bills. A quick scan of online financial media shows lots of "Santa rally" talk and fourth quarter optimism. Equity pc ratios show the same trend. Is everyone gambling that the worst is over? Bad bet, I think. I know I keep sounding the alarm since late July, but I have been right so far and I don't see weekly oscillators anywhere near a bottom yet. Here is the pc ratio chart:
http://www.vtoreport.com/sentiment/putcall.htm
This entry was posted
on Saturday, October 01, 2005 at 2:58 PM.
