There is no data today, aside from some pro-IBM news, the week's most important releases are coming tomorrow morning with December's Retail Sales (expected +.1%) and the Producer Price Index (PPI, expected +.2% and +.2% for the core rate). On Wednesday we'll see the Consumer Price Index (CPI), one of the most important monthly reports that we see since it measures inflationary pressures at the consumer level of the economy. It is expected to rise 0.2% while the core data is also expected to increase 0.2%. December's Industrial Production report is the second report to be posted Wednesday, expected -.1%, and then Wednesday afternoon the Fed Beige Book report will be posted, detailing economic activity regionally throughout the U.S. December's Housing Starts report will be released early Thursday morning, and then Friday we have December's Leading Economic Indicators and January's preliminary reading to the University of Michigan Index of Consumer Sentiment.
hope this helps,
Joel Wissing
Futures Trader
Monday, January 14, 2008
S P 500 Daily January 14 2008 AM
Declining volume in to this consolidation range. When will it continue down? A little respite for now? Sentiment is we are headed for new market highs, I doubt that. We shall see.
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