The Week Ahead

A holiday shortened week with a handful of retail stocks. Notable reporters including but not limited to PAYX, RHT, FDS, LULU, WBA, SPWH, STZ, SNX, RH. The economic calendar will be relatively quiet with Tuesday we will see consumer confidence numbers, while most focus will come on Thursday morning when Core PCE index will be released. Markets will be closed on Friday in the U.S. due to Good Friday holiday.

After last week and the sharp drop in equities across the world, bullish sentiment with the S&P dropped to 10% bulls on Friday, just a point higher than the February low reading. At that time of the February lows, I expressed confidence the low level of sentiment would continue similar to other recent periods when it took time to fully bottom. The other periods I am referencing are August/September 2105 and January/February 2016. One thing to point out, is sentiment reached low levels, like today, and the markets accelerated much lower by a few hundred S&P handles! In August/September 2015 the low was made in wave 3 while the January/February 2016 low occurred in the final wave 5. This current market is in the 3rd wave and there are growing numbers of DeMark downside exhaustion signals on individual names, yet the majority of those are in wave 3. Wave 3 exhaustion signals are tricky and less effective since the next wave will be a corrective wave 4, which is the smallest of all the 5 waves and will be another lower high bounce. The final wave 5 ahead will undercut the lows made in wave 3. Net - another bounce should develop sometime this week or early next but it's not THE low you want to back up the truck.

I will have a lot on the Hedge Fund Telemetry Daily Note all week and might even put out some extra reports if the action in the market calls for it. I am also going to send the updated DeMark Indicator Primer, as promised tomorrow too. Thanks you for all your continued support and to new subscribers, a special thank you and welcome! With your help we are building out the platform with more features and functionality. Good luck this week and please feel free to reach out with chart requests, questions, comments, or to say hello!

Monday 26-Mar

Pre-open: PAYX
Post-close: RHT

IPO: GHG,

Economic

US: Dallas Fed (Mar) Fed speakers Dudley, Mester Quarles

Tuesday 27-Mar

Corporate

Pre-open: FDS, INFO, MKC
Post-close: LULU, RH, SCVL, SONC

TD Securities Engineering & Construction

Analyst Meeting: KSX.CN, SPLK, NVDA, NRG,
IPO: BILI, ONE, OPBK

Economic

US: Consumer Confidence (Mar), Case-Shiller Home index (Jan), Richmond Fed (Mar), Fed speakers Bostic
Europe: Eurozone: M3 money supply (Feb), Business Climate (Mar), Economic Sentiment (Mar), Germany Retail sales (Feb)

Wednesday 28-Mar

Corporate

Pre-open: BB.CN, SCWX, UNF, WBA
Post-close: GME, OXM, PRGS, PVH, SPWH, VRNT

CIBC Retail & Consumer
Bank of America Merrill Lynch Auto

Analyst Meeting: ARRS, NDAQ, ADSK, AMBA, GDDY
IPO: FIXX, IBEX, IQ, UNUM

Economic

US: Advance goods trade (Feb), GDP (Q4 final), Retail inventories (Feb), Pending home sales (Feb)
Europe: UK CBI Distributive Trades (Apr); Germany GfK Consumer Confidence (Apr)

Thursday 29-Mar

Corporate

Pre-open: ANGO, DOL.CN, LNN, MOV, STZ, TITN
Post-close: SNX

Sidoti & Company Spring Investor

Analyst Meeting: ADSK, GDDY, NDAQ
PDUFA: AMGN, LONN.SW

Economic

US: Personal Income / spending (Feb), PCE (Feb), Michigan Confidence (Mar)
Europe: Germany HICP (Mar-flash), Unemployment change (Feb),
Asia: Japan: (Wed night / Thur AM) CPI (Mar), Retail Sales (Feb), Trade Balance (Feb)

Friday 30-Mar

US Holiday markets closed

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