Chockablock, FOMC needs to replay,"we go either hot or cold buying bonds" to neutralize themselves, or the plethora of housing, and unemployment, and consumer data will turn the market on its ear. Best they stay dovish on tapering, or the entire market will crumble like China's expansion. Nuff said, and watch your six.
Monday Jul 29 Pending Home Sales Index 10:00 AM ET, Fed Mfg Survey 10:30 AM ET, 4-Week Bill 11:00 AM ET, 3-Month/6-month Bill Auction 11:30 AM ET,
Tuesday Jul 30 FOMC Meeting Begins about 0800 EST, ICSC-Goldman Store Sales 7:45 AM ET, Redbook
8:55 AM ET, S&P Case-Shiller Home PI9:00 AM ET, Consumer Confidence 10:00 AM ET, State Street Investor Confidence Index, 10:00 AM ET, 4-Week Bill Auction 11:30 AM ET,
Wednesday Jul 31 2-Yr Note Settlement, 5-Yr Note Settlement, 7-Yr Note Settlement, 10-Yr TIPS Settlement, MBA Purchase Applications 7:00 AM ET, ADP Employment Report 8:15 AM ET, GDP, 8:30 AM ET, Employment Cost Index, 8:30 AM ET, Treasury Refunding Announcement 9:00 AM ET, 3-Yr Note Announcement
9:00 AM ET,10-Yr Note Announcement 9:00 AM ET, 30-Yr Bond Announcement, 9:00 AM ET, Chicago PMI
9:45 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement, 2:00 PM ET, Farm Prices 3:00 PM ET,
Thursday 1 Aug Weekly Bill Settlement, Motor Vehicle Sales, Challenger Job-Cut Report 7:30 AM ET, Jobless Claims 8:30 AM ET, PMI Manufacturing Index 8:58 AM ET, Bloomberg Consumer Comfort Index 9:45 AM ET, ISM Mfg Index 10:00 AM ET, Construction Spending 10:00 AM ET, EIA Natural Gas Report, 10:30 AM ET,
3-Month Bill Announcement 11:00 AM ET, 6-Month Bill Announcement 11:00 AM ET, Gallup US Payroll to Population 1:00 PM ET, Fed Balance Sheet/Money Supply 4:30 PM ET
Friday 2 Aug Employment Situation 8:30 AM ET, Personal Income and Outlays 8:30 AM ET, Factory Orders
10:00 AM ET.
Bernanke balked, so we're out of the woods on tapering--now the employment stats, which never seem to follow through from the ADP number earlier in the week have to cooperate--and what cooperate means is, goldilocks, not to hot, not too cold, something in the order of steady as she goes.
This could be another 37% year for the Russell--but rustling up some gains in gold and silver is elusive, because for silver, the industrial side has to overcome the precious metal debacle going on in folks minds. We haven't seen the end of lowball silver I'm afraid, and there's also too much talk about Mom and Pop getting back into this market.
Now I KNOW we're in the last twenty percent of this bubble.
What's missing from the calendar is the rest of the world banks follow through taking US lead--will they, is there time for them to react to Bernanke's resurrection of QE to infinity? Today we sweat the tit on a boarhog, Europe.
Futures are up, but not silver.
This is the riot before the storm, although all the pundits say this meeting is a snoozer, the Fed call for tapering is a sharp stick in the eye coming--so I expect the market to cringe before the binge.
Silver and gold are another matter.
Big day, eyes on the drama queen Fed, and the stats have to be goldilocks, not too good, not too bad, just right, for the markets to fly.
Instead of crash and burn. A traders and technicians delight today. The rest of us normal people should go back to sleep.
The FOMC "machas" get to meet and Ben isn't scheduled to follow up with palaver, so the committee is where eyes are focused, however contra free markets anywhere. When the Monopoly Board bank gets to hand out $2000, then $3000, instead of $1500, the printed prices for property aren't supposed to change, but they are to the advantage of all those overpaying 33% 2004/5/6/7, which is "supposed to be" ANOTHER 33% in funny money today--all those 2003 housing prices are "supposed to be" 66% "higher" 2013, and they're barely July 2004 prices NOW--.
OK, I'll buy 33% of that, half the pop, should have happened. When you crunch the numbers, we should have been "well" by now, with a 33% pop over 2003 prices, everybody should be "even", not under water, and all those derivatives would have cancelled themselves.
We won't be "there" till 2018, and then we'll still be ANOTHER 15% "Behind". If you think the central bank noticed, you wouldn't be able to tell from a substantial number of those highly degreed idiots that can't do basic math.
Their inability to understand their own mandate is what has had PM in a tizzy.
Wow, home sales fell in spite of looky loos getting off their dead azzzzes and making the jump--wouldja THINK?
Bennies supposed to give the world the silent treatment for the next couple days, I wouldn't be doing that if I thought I ought to give at least some lip service to the full employment mandate.
Will homes give the market a shot in the arm? PM have it rough either way, as respite for dollar issues--the dollar gets stronger because the yen is weaker, a net zero, but the world of PM cringes. It doesn't make sense, but you can get killed being right.