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Overly Bullish: Weekend Reading

NEW YORK ( TheStreet) -- Good Sunday afternoon and welcome to another edition of Weekend Reading. First a look back at the week that just finished, then a look forward to the week ahead and, lastly, a summary of articles and papers worth reading.

It was another good week for the major markets. For the week, the Dow gained 2.4%, the S&P 500 was up 2.1% and the Nasdaq climbed 2.8%. The S&P 500 index is now up an impressive 9.5% since the end of August, and if it holds ( Reuters points out), it will be the best month for the index since March 2000, and the best September for U.S. equities since 1939!

Looking ahead to next week, however, sentiment is rapidly becoming unsustainably bullish, with good news seen as great news, with bad news being ignored and with a general sense that almost everything in technology is an M&A play. That may not signal the end of the current rally, but it does at least indicate that the rally has a "sell-by" date, and that date likely isn't too far away.

> > Bull or Bear? Vote in Our Poll

Turning to economic indicators, next week will bring the Institute for Supply Management's manufacturing index, August personal income and consumer spending, consumer confidence data and the final read on second-quarter gross domestic product.

As for earnings, next week we will see reports from Jabil Circuit (JBL), Paychex (PAYX), Walgreen (WAG) and Family Dollar Stores (FDO), among others.
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Chart of I:DJI
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