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As I told newsletter subscribers over the weekend, I am patiently waiting to react to what the market shares over the next couple of weeks.
Because the market was so overbought, investors were looking for any reason to sell and that’s exactly what happened; however, this can easily kill momentum and bring the real bears back out to play. So investors will need something to boost their confidence and jumpstart the market again
Company News And Earnings
Probably what I am most excited for this week is what Apple (AAPL) plans to announce/share on Wednesday. Rumors are spreading that they will be announcing their new tablet, 4g iPhone, or both. Other tech heavyweights, Microsoft (MSFT) and Amazon (AMZN), will also report along with ConocoPhillips (COP) and Chevron (CVX).
Economic Data
There will be a slew of relevant economic data that could also have an impact on the market. I have highlighted what I feel to be the most important data to pay attention to, in the calendar below:
source – http://www.thestreet.com/story/databank/index.html
All in all, there is definitely a lot of data and information to take in this week that could either spur on this selling or revive the bull rally.