The weekends on another light volume rally. Perhaps bulls were trying to find a promise of more QE in the future. This is hard to know given the dueling rhetoric from Fed governors who are campaigning for their policies.
Housing data this week wasn't encouraging especially when it's one of the major problems with employment and debt closely behind.
More economic indicators are due next week featuring: (Monday) Pending Home Sales; (Tuesday) Dallas Fed MFG data, Case Shiller Home Price data, Consumer Confidence; (Wednesday) Durable Goods; (Thursday) GDP, Jobless Claims and Corporate Profits; (Friday) Personal Income & Outlays, Chicago PMI and Consumer Sentiment.
Let's see what happens.
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