Key Index Levels & Looking Ahead to Next Week - Expect it to Be Choppy
Companies reporting earnings the week of April 14th-18th include (list courtesy of Briefing.com; key reports underlined):
- Monday: ETN, GWW, ELS, INFY, and STLY
- Tuesday: ADTN, FRX, GMTN, IIIN, JNJ, MTB, MI, NTRS, PII, RF, STT, USB, CHB, CSX, INTC, RLRN, STX, and SORC
- Wednesday: ABT, AMB, BMI, KO, ITW, JCI, JPM, NITE, LUFK, MTOX, EDU, PJC, STJ, WFC, WWW, ATLR, ATR, AVCT, CAVM, CNW, CCK, DTLK, EBAY, GILD, GKK, IBM, ISIL, KNL, LEG, PLCM, SPSN, and UFPI
- Thursday: AMFI, BK, BAX, BBT, CHKP, CIT, CMA, CY, DHR, FCS, HOG, HNI, RX, IGT, MAR, LSTR, KEY, MER, NYT, NOK, NUE, PFE, RS, SLM, LUV, SPWR, SVU, AMTD, UTX, AMD, COF, CBST, ETFC, ESLR, GOOG, ISRG, SNDK, SYK, TPX, ZION and WSO
- Friday: CAT, C, HON, MAN, PRSP, SLB, WB, WL, and XRX
In addition, we have the following key economic reports (all times EST, courtesy of Barron's Econoday):
- Monday: Retail Sales (8:30 AM), Business Inventories (10:00 AM)
- Tuesday: Produce Price Index (8:30 AM), Empire State Manufacturing Survey (8:30 AM), NAHB Housing Market Index (1:00 PM)
- Wednesday: Consumer Price Index (8:30 AM), Housing Starts (8:30 AM), Industrial Production (9:15 AM), The Beige Book (2:00 PM)
- Thursday: Jobless Claims (8:30 AM), Leading Indicators (10:00 AM), Philly Fed Survey (10:00 AM)
- Friday: None
If that wasn't enough, we have Fed speak on Monday, Wednesday & Thursday, from a total of 5 different Fed members (4 of which have voting rights). Also, don't forget that Friday is Options Expiration.
Now, on to the indexes (key supports are in green and key resistances in red; We need to clear the levels in red for the short term uptrend/rally to continue and breaking through & below the green levels would signal an end to that short term uptrend/rally.):
As you can see, we have a ton of information and market moving events on our hands for next week. If you are swing trading stocks for the near term be aware of not only when that company reports earnings, but any related companies. We're in a highly selective environment for stocks. Any earnings failures on the top or bottom line, future guidance, or commentary will not be treated kindly.
Take care and enjoy the weekend. We'll definitely need our rest heading into next week. It almost feels like its going to be one of those weeks where it maybe better to stay on the sidelines or keep trades small & extremely short duration.
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