MONDAY: Unbelievable week for hot air enthusiasts. 12 speeches by FOMC members, one by Treasury Secretary Jack Lew and One by ECB Presient Mario Draghi, in addition to Wednesday’s FOMC Statement. Other than that, nothing else really of interest.
TUESDAY: A mildly negative start to the day looks to be the logical place to start after yesterday’s fade and before tomorrow’s FOMC.
WEDNESDAY: Coming off a 272 point loss makes today’s FOMC Statement even more important as the slightest change in wording could tip negative sentiment into what many believe is the “blow off” selling that is necessary to get the market back on its higher track.
THURSDAY: Down 272 one day, up 274 the next, but for the past 3 weeks that’s not all that unusual. Today shows no follow through to begin the morning and no expected catalysts, but since when are those important?
FRIDAY: Not much relief in sight to end the week as market is now 4% below its September highs and up less than 5% for the year.
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS