Short week and job numbers coming
May 28, 2006 – 1:58 pmIf you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
No trading on Monday means volume will be lower than usual this week, no matter how you look at it. But big numers about jobs are expected. Depending on the news, the direction and the sentiment of the market could take a change.
But traders will have other economic data to sift through before Friday’s major report. On Tuesday, May consumer confidence numbers will be the first dose of data traders receive after the Memorial Day holiday. According to Thomson First Call, economists expect a reading of 101, down from 109.2 in April.
Numbers that are particularily down may cause a negative reaction this week. The general market could still be best described as jitterish.
A few trends haven’t changed much:
- Interest rates are in a up environment
- Energy prices are up and rising
- Consumer confidence is slipping
If consumer confidence slips worse than usual, then it might be time to run for the hills. It’s heating up for Summer, and trading volume is down. Short term traders might look to be short this Summer. Long term investors should accumulate. If you have a watch lists, now might be the time time to pick up some bargains. We’ll take a look at some attractive valuations in the next few weeks.
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