The Week Ahead

Earnings season downshifts dramatically in the week ahead as volume drops off, notable reporters include but are not limited to (HD, M, CSCO, JCP, WMT, JWN, AMAT, CPB, DE).

Brokerage conferences pick up as earnings season winds down with the RBC auto conf, Citi Global energy and Utility conf, BofAML health care, Oppenheimer Emerging growth conf, and JP Morgan Global Tech and Media conf to mention a few.

The economic Calendar will be relatively quiet with U.S. Retail Sales Tuesday, Housing data out Wed and and Euro area GDP out Tuesday. Thursday Japan Industrial Production, and Retail Sales.

S&P bullish sentiment has increased to 57% from 55% the previous day. Nasdaq 100 bullish sentiment remained at 53%. The narrative heard in the market has been a breakout yet the S&P remains 5% below the January highs. Technology and energy have been leading and will be watched closely for important follow through. Energy is on my radar for upside exhaustion signals nearing on both Crude and Energy ETF's/stocks. The small cap breakout will also receive a weekly upside DeMark exhaustion this week too. Some of the negative catalysts seem to be resolving or moving down from the headlines. The late week weakness in the USD and strength in corresponding crosses was due with the sentiment extremes however there remains DeMark Countdowns suggesting further strength in the USD.

Thursday morning I am planning on doing a 30 minute market webinar and will have details out tomorrow.

Monday 14-May:

Corporate:

Earnings:

Post-close: A, MIME, SWCH

Brokerage Conferences:

Citi Global Energy & Utilities
RBC Canadian Automotive, Industrials & Transportation

Analyst Meetings: CBIO, LPX, MCF, VRNT

Economic:

Asia: (Sun PM / Mon AM): Japan PPI

Tuesday 15-May:

Corporate:

Earnings:

Pre-open: EXP, HD
Post-close: BOOT

Brokerage Conferences:

RBC Canadian Automotive, Industrial & Transportation
Citi Global Energy & Utilities
Bank of America Merrill Lynch Health Care
JP Morgan Global Technology, Media and Communications
Oppenheimer Emerging Growth

Analyst Meeting: HBI, HSKA, KEX, PG.CN, KEX, SBUX
PDUFA: EOLS (DWP-450)

Economic:

US: Empire state survey (Apr), US retail sales (Apr), NAHB Housing index
Europe: Euro-Zone GDP (Q1-2nd), Industrial production (Mar), Eurozone ZEW Survey (May) ; Germany ZEW (May)
Asia: (Mon PM / Tues AM): China: Energy production (Apr), Industrial Production, (Apr), Retail sales (Apr)

Wednesday 16-May:

Corporate:

Earnings:

Pre-open: M
Post-close: CSCO, FLO, JACK,

Brokerage Conferences:

BMO Capital Markets Farm to Market
Bank of America Merrill Lynch Health Care
RBC Canadian Automotive, Industrials & Transportation
Citi Global Energy & Utilities
CIBC Industrials
JP Morgan Global Technology, Media and Communications

Analyst Meeting: ODP, JNJ, HON, FLIR, WYN, ASUR, XEL, OHI
IPO: PS

Economic:

US: Housing completion / Starts SAAR, Industrial Production (Apr),
Europe: Euro-zone HICP Inflation (Apr-fin), Germany HICP inflation (Apr)
Asia: (Tues PM/ Wed AM) Japan, GDP Q1, Industrial production (Mar)

Thursday 17-May:

Corporate:

Earnings:

Pre-open: JCP, WMT
Post-close: AMAT, JWN

Brokerage Conferences:

Canaccord Genuity Cannabis
Bank of America Merrill Lynch Health Care
Leerink Biopharma Bus
Capital Link Closed-End Funds and Global
BMO Capital Markets Farm to Market
CIBC Industrials
JP Morgan Global Technology, Media and Communications

Analyst Meeting: WMB, WPZ, BGCP, SXI ZEN
PDUFA: AMGN, NOVN.SW (Aimovig)

Economic:

US: Philly Fed index (May)
Asia: (Wed PM / Thurs AM): Japan Industrial production (Mar), Retail Sales, Shipments (Mar)

Friday 18-May:

Corporate:

Earnings:

Pre-open: CPB, DE

Brokerage Conferences:
Analyst Meeting: IO, FAF, WSO

Economic:

Europe: Euro-zone Trade balance, Germany PPI,
Asia: (Thurs PM / Fri AM) CPI Apr

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