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This week’s setup for a Santa Claus Rally climax

This week is jam packed with events that could drive the market higher (or not).

  • Tuesday:
    • NFIV Business Optimism index- a score above 103 would be positive.
  • Wednesday:
    • Consumer Inflation report- likely 2%.
    • FED’s final 2019 FOMC meeting- expect continued dovish tone with no rate increases.
  • Thursday:
    • New European Central Bank president Christine Lagarde first press conference- happy talk about continued easy money and support for fiscal spending would be well received.
    • UK election- a large majority (either way) might help to reassure markets that BREXIT will finally be resolved.
  • Friday:
    • Retail Sales report- expectations are low, so a good number could move the market higher.
  • Sunday:
    • Deadline for next round of tariffs to be imposed on Chinese products.  Today Reuters reported that, “Beijing hopes it can reach a trade agreement with the United States…”- expect “the can” to get kicked down the road…again!

The S&P 500’s 20 day moving average is ~3106; lots of good news this week could cause a bounce from there to a new record high.


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