Good Morning. We have a fair amount of economic data being released this week including retails sales and inventories on Monday. And we also have a lot of Fed speak with both ends of the spectrum covered. Monday starts with dove Bill Dudley followed up by hawk Jeffrey Lacker (Hawk Dove scale), aka “the lone dissenter.”
We enter a week where markets are showing a developing downtrend though momentum did weaken on Thursday and Friday. A normal retracement is probable once the model triggers a trend, so there is no reason to think this is anything else.
And in most cases, the “clock” has been reset though the COMPQ has now been down six consecutive days and seven is almost always the most you will see within equity markets (credit markets seem to have a longer “clock”).
