Retail Week

It’s time for the retailers to be reporting earnings, and many are doing it this week. But since we know retailers and consumers have been sucking wind, it should all be priced in. But, we also have PPI, housing starts and leading indicators, so looks like another news driven week coming up.

The major indicies are trapped in a sideways pattern from Thursday. You could tell from the big time chop and whipsaws while waiting until we get a breakout on either side. By the early evening action today of the futures, that breakout may be to the downside.

Japan reported a much worse than expected Q2 GDP, and futures reacted immediately down, but are recovering slowly. We’ll see what morning brings.

Thanks for checking in and good luck tomorrow!