Coming Week: New Year, Same Problems?

Several other economic reports will be on tap, although many involve activity in November and may not be an appropriate barometer of current economic activity. Construction spending will hit the wires Monday, followed by factory-order data for the same month on Tuesday. Thursday will bring a report on consumer credit from November, and Friday will see the release of wholesale inventories data from two months ago.

Looking at the earnings calendar, a handful of companies were scheduled to post quarterly results over the next five trading sessions. Bed Bath & Beyond (BBBY Quote), Monsanto (MON Quote), Family Dollar (FDO Quote) and KB Home (KBH Quote).

However, the real fireworks of the fourth-quarter earnings season won't happen until the following week, when Alcoa's (AA Quote) report on Jan. 12 marks the unofficial start of the torrent of releases. In the meantime, traders will spend the coming week sorting through the last remnants of 2008.

"It's going to be a quiet week," Hanlon said. "Everyone is going to be getting back in, settling down, and deciding where they want to be for 2009. We could get a week where we float higher as everyone is optimistic about the new year. Then again, we could get the opposite with weakness as people come and go. Most people think a base is being built, but I'm not convinced."

1 What would best describe your stance heading into the coming week of trading? Bullish Bearish Neutral 2 Which of these sectors do you think is set to move up in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities 3 Which of these sectors do you think is set to move down in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities View the results without voting