It's time for us to talk about financel this week. Once you want to know clearly what will be going on finance market in the coming week, just check out what Pitguru Frank LaMantia noted for us!


The situation in Libya has escalated and with it so has oil. The death toll is estimated to be between 1,000 and 2,000. Other members of oil producing countries pledged to sell more barrels to the U.S. to make up for the lack of production in Libya. Geithner announced that the U.S. is read to tap into the oil reserves if it is needed. The Treasury Secretary also mentioned that the rally is drive solely by speculation. Over 1 million people need aid and of course the U.S. is there to help. I would like to see if the other Arab nations are so eager to help their neighbors.

Today at 3:00 PM Eastern Time Consumer Credit will be announced and is expected to be $3.3 billion. Wed. March 9th The Mortgage Index which was -6.5% at last announcement. Wholesale Inventories are expected to be 1.0% which would be the same as the last announcement. Crude inventories could be a head turner. Both will be announced after 10:00 AM Eastern Time. Thursday March 10th Initial Claims is expected to be 382k and was 368k when last announced. The Trade Balance is expected to be -$41.5 billion and was down -$40.6 billion last time. Friday March 11th retail sales will be announced at 8:30 AM Eastern Time and that number is expected to be 1.0% which is higher than the 0.3% prior. At 9:55 AM Eastern Time the Michigan Sentiment is expected to be 76.5 which is lower than the 77.5 at the last announcement. Around the same time Business Inventories are expected to be the same 0.8%.

The S&P is trading near 1326.00 in premarket trading and may see pressure as overseas markets waiver. The 25 point range that has been seen over the past few weeks is tiring but might be around for a little bit longer. The low 1300’s to around 1330.00 has been the norm. It seems like every time 1330.00 is reached it sells-off. If a bullish sentiment creeps in the next level of resistance could be 1346.00 when looking at the charts.

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