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8/12/18
Thomas Thornton
The Week Ahead - Key Events and Focus

It will be a relatively quiet week ahead with a big drop off in the number of reporting companies. Notable reporters include but are not limited to (SYY, AAP, HD, M, CSCO, WMT, NVDA, JCP, JWN). The economic calendar will be relatively slow as well, but we will see US, CPI and PPI import / export data and NAHB index. Abroad we will see China retail sales, Industrial output, Foreign Direct Investment, Eurozone IP, GDP data and Germany IP ZEW and GDP Data.

Everyone will be watching the currency markets after Friday's Turkish Lira collapse.  The Lira has been breaking all year and the political situation turned volatile with Trump turning up the pressure with increased tariffs.  Sentiment with the US Dollar is at a peak extreme level of 94%  bulls with major crosses equally oversold bullish sentiment with British Pound Sterling at 7%, Euro 16%, New Zealand Dollar 15%, Swiss Franc 18%, Canadian Dollar 24%.  Sentiment can and might stay overbought or oversold for a period of time and we'll be watching for a trigger for a turn on this week's Daily Notes.  

S&P bullish sentiment hit 85% on Tuesday and closed the week at 70%.  Upside DeMark signals are close to upside exhaustion 13's and on some indexes and ETF's we already have the early Aggressive Sequential 13's.  A little more upside is possible to achieve the upside exhaustion signals if the Turkish situation stabilizes.  A break down further in the European banks will be the early tell tomorrow morning. 

This week I will be in Dallas taking my youngest daughter to college and will have limited time with the markets.  I will be sending the First Call early email which might include a little of the Daily Note charts.  Have a great week and thank you for your continued support. 

Earnings, Conferences, Economic Reports

    Monday 13-Aug:
      Corporate:
        Earnings:
        • Pre-open: SYY
        • Post-close: HCG.CN, SWCH,
        Brokerage Conferences:
        • Raymond James Telecommunications
        • KeyBank Capital Markets Technology Leadership
        • Citi Insurance 1:1
      • IPO: ADRS
      • PDUFA: FOLD, GSK.LN (Galafold)
    Tuesday 14-Aug:
      Corporate:
        Earnings:
        • Pre-open: AAP, CAE.CN, EAT, HD, TPR
        • Post-close: A, CREE, MYGN, VIAV
        Brokerage Conferences:
        • Raymond James Telecommunications
        • KeyBank Capital Markets Technology Leadership
      • Analyst Meeting: CRL
      Economic:
      • US: Import / Export prices (Jul)
      • Europe: Euro-zone: IP (Jun), GDP (Q2 Prelim) Germany: CPI (Jul), GDP (Q2-Prelim), ZEW Sentiment (Aug) UK: ILO unemployment Rate (Jun),
      • Asia (Mon PM / Tues AM): China: Energy Production (Jul), Industrial Output (Jul), Retail Sales (Jul) Japan: Industrial Production (Jun), Shipments (Jun)
    Wednesday 15-Aug:
      Corporate:
        Earnings:
        • Pre-open: M, MRU.CN
        • Post-close: CSCO, NTAP, SPTN
        Brokerage Conferences:
        • Citi One-on-One MLP / Midstream Infrastructure
        • Raymond James Telecommunications
        • Oppenheimer Midwest Corporate Access
        • Raymond James Energy
      • Analyst Meeting: IDXX
      • PDUFA: VRTX (Kalydeco)
      Economic:
      • US: NonFarm Productivity (Q2) Empire Manufacturing (Aug), Retali sales (Jul), Industrial production (Jul), Manufacturing production (Jul), Business inventories (Jun), NAHB housing market (Aug)
      • Europe: UK: CPI (Jul), PPI (Jul), Retail Price (Jul)
    Thursday 16-Aug:
      Corporate:
        Earnings:
        • Pre-open: JCP, MSG, WMT
        • Post-close: AMAT, ARAY, JWN, NVDA, ZOES
        Brokerage Conferences:
        • Citi One-on-One MLP / Midstream Infrastructure
        • Seaport Global Securities Coal
        • Raymond James Energy
      • Analyst Meeting: IDXX, ENPH
      • PDUFA: 4528.JP, BMY (Opdivo)
      Economic:
      • US: Building Permits (Jul), Housing Starts (Jul), Initial Claims, Philly Fed Index (Aug)
      • Europe: Euro-zone: Trade Balance (Jun); UK: Retail Sales (Jul)
      • Asia (Wed PM / Thurs AM): Japan: Trade Balance (Jul)
    Friday 17-Aug:
      Corporate:
        Earnings:
        • Pre-open: DE
      • PDUFA: TXMD (NES/EE vaginal ring)
      Economic:
      • US: Leading Indicators (Jul), Michigan Consumer Sentiment prelim (Aug)
      • Europe: Euro-zone: Current Accounts (Jun), CPI (Jul)
 


Any comments, suggestions, or questions - please email info@hedgefundtelemetry.com
Occasionally, an earnings report date could change, or could be incorrect. We rely on various sources including Street Account, Factset, and Bloomberg to compile this report.    

 

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