Get ready for a busy Week Ahead! Earnings season moves along full speed ahead as 27% of the S&P 500 report, including industrial heavyweights Eaton and Cummins and social media momentum names Twitter and Linkedin. What will really generate headlines is the slew of economic data and Fed activity. The FOMC meeting and minutes takes place and Fed President Yellen speaks to bankers in Washington D.C. Macro data highlights include S&P/Case-Shiller, ADP and non-farm employment, GDP and manufacturing.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.