Contest guess #1 My guess for a major corrective action to begin take place will be on July 27,1999. That day is the first of several that will have reasonably important economic data to be released during that week. Prior to that day the existing home sales report will be released and I do not expect this to move the market in either direction too much. On 7/27/99 the consumer confidence ratings will be released, the next (7/28/99) will be the durable goods report, the next (7/29/99)will be the jobless claims report, the GDP, the ECI (which I expect to be very hard on the market) and the help wanted index. Friday (7/30/99)will be new home sales, personal income , and farm prices. The following week is just as heavy with more data. I cannot see the data continually being so rosey and I feel that in a market as top heavy as this one , even a slight dissapointment will create an unstoppable slide.
My 5 days ARE trading days arent they?
FYI : The first week of August will include the following reports
NAPM Survey, Construction spending, Leading indicators, Factory orders, Jobless claims, Chainstore sales, Productivity costs, Employment situation, and consumer credit |
