Monday, April 4, 2011

Sandwich Week

Looking at the docket of economic news it is a quiet week aside from ISM Non Manufacturing on Tuesday.  Over in Europe the ECB is expected to raise rates to combat inflation for the first time in a few years, but that is well telegraphed to markets so not really news.  Meanwhile the ultra easy US money policies have no end in sight, causing pressure on the dollar and lifting every asset priced in dollars ever higher.  You should be noticing the nearly $4 gas near you quite soon.

Earnings season kicks off in the latter half of next week so I would consider this a sandwich week in between some heavier economic data last week and earnings driven action next.  Hence technicals should dominate... everyone waits for the breakout to new highs in the SP500 to pile on more exposure as appanently marging pressures and $4ish gas are only things to worry about for the little people....


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