MONDAY: Not too much economic news expected this week, but the Retail Sales Report is due as are the first of national retailers reporting their earnings. WIth China having a strong open to the weak hopefully that will give us some immunity for now to their liabilities
TUESDAY: A surprise overnight devaluation of the Chinese currency isn’t a very good thing for us as the USD is already so strong. The pre-opening futures market doesn’t seem to like it, but with yesterday’s gain and the recent past, there wasn’t much reason to expect another move higher today, anyway
WEDNESDAY: More news from China has our futures continuing yesterday’s sell-off that completely erased Monday’s great gains. Other than for that day we are looking at marching toward 2 weeks of daily losses, but starting this morning the market is barely 2.5% below its all time high.
THURSDAY: Impressive comeback yesterday, starting at about Noon, maybe being led by Apple, just like in the old days. This morning’s futures may be adding a little onto yesterday’s bounce, but betting the farm on it may not be a great idea.
FRIDAY:. 2 big days to start the week, one almost big day that ended flat and another flat day. Fridays have been weak the past month or more, but this morning the futures are looking flat as China did nothing with its currency overnight.
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS