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Monday, August 29, 2011
US Economy data weekening
The rally for today market make no sense as the economy data is weekening. The Dallas Fed Mfg survey and Pending Home sales Index were very week.
Dallas Fed Mfg Survey
Prior Consensus Consensus Actual
Bus Activity Index -2.0 -6.0 -10.4
Production Index 10.8 1.1
Pending Home Sales Index - M/M -1.3 %
I think the stock will pull back as lot of economic data is coming out this week. If the stock rally it will only last till Labor day.
GLD and VXX are still very attractive.
Tomorrow more economic data are coming out
ICSC-Goldman Store Sales
7:45 AM ET
Redbook
8:55 AM ET
S&P Case-Shiller HPI
9:00 AM ET
Consumer Confidence
10:00 AM ET
State Street Investor Confidence Index
10:00 AM ET
FOMC Minutes
2:00 PM ET
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