This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Jobs Report in Focus in Coming Week

Stocks in this article: BNCN AMZN XOM PFE STX ALL HSY MA EL

NEW YORK ( TheStreet) -- The quiet pullback in U.S. equities this past week isn't bothering market participants or analysts. As long as no negative news comes out of Europe, the thinking goes, all will be well in the U.S.

Analysts not only view the current weakness in stocks as temporary, but they're calling it a buying opportunity.

Mark Arbeter, technical strategist with S&P Capital IQ has an especially bullish view. "With the help of Apple's (AAPL) blowout quarter, the NASDAQ 100 rallied to its highest level since February 2001," he writes.

"In the process, the NASDAQ 100 is breaking out of a year-long consolidation, and based on the depth of this base, we could see a measured move up above 2,800, or about 14% above current prices," he continues. "Taking a look at the top 10 NASDAQ 100 stocks, which represent about 55% of the index, we see generally constructive chart patterns that suggest to us higher prices in the months ahead."

> > Bull or Bear? Vote in Our Poll

Historical data from Birinyi Associates also support an eventual move to the upside: "Over the past 78 trading days, the S&P has rallied 20.63%. Since 1945 this has occurred 15 other times or on average once every 4 years ... the average performance over the next six months is +6.96% with the market losing ground in only two of the previous 15 instances," writes analyst Jeffrey Yala Rubin in a research note.

One thing that could inject some excitement into the market is an IPO filing from Facebook. The Wall Street Journal reported this past week that the popular social networking company may file its IPO documents on Wednesday.

Despite the general bullishness, investors remain on the lookout for surprises, however. The sudden volatility that that drove the S&P 500 into bear market territory in early October is still a recent memory. Headlines about debt negotiations between Greece and its creditors still appear each day, reminding everyone the situation in Europe remains fragile.

Private creditors and Greek officials are still trying to negotiate a deal in which the investors would exchange their old government bonds for new ones yielding around 3.7% to 3.8%, according to The Wall Street Journal, whose anonymous source says that "some process was realized," although nothing final has been agreed upon. If a deal is reached over the weekend, eurozone governments may hold a special meeting on Monday.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,290.14 +221.27 1.30%
S&P 500 2,004.46 +31.72 1.61%
NASDAQ 4,625.8460 +78.0120 1.72%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs