Friday, earnings for the S&P 500 companies were expected to be off 1.8 percent for the quarter. In the coming week, more than 150 of the S&P are reporting, including Apple, Caterpillar, Boeing, Amazon.com, Merck, and AT&T. Earnings news will dominate, but there is also a two-day Fed meeting; the final presidential debate Monday, and important economic reports that include housing data and the first look at third-quarter GDP.
1380 might come next week ... that would be a good point to watch..
“I would say this is just the beginning,” said Carter Worth, Oppenheimer Asset Management’s chief market technician. He said he expects another two- to three-percent decline, with the S&P heading to its 150-day moving average at 1380. Then, its direction remains to be seen.
“My bet is down. When we get there, it’s how you go down there. If we were going to crash there (150-day) on Monday, I’d say we go lower,” said Worth. In a note earlier in the week, Worth had identified the tech sector as heading for trouble. He said semiconductors and semiconductor-equipment makers were “literally coming apart.”
发表于 2012-10-20 17:56
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发表于 2012-10-20 18:57
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