The Pullback Continueth

Even when you know it's coming, it's always frustrating to watch play out.

Thu, Feb 7, 2019 - 10:56am

A quick scan of the homepage reveals multiple references late last week to an impending pullback. And here we are. However, the Chinese New Year holiday ends soon and multiple technical signals are providing support in the short-term so perhaps this current decline has nearly run its course.

So, can we simply navigate our way through tomorrow without any more appreciable damage? I think hope so. The return of China next week, along with a full slate of data including CPI, PPI and retail sales, should may be enough to allow things to stabilize and begin moving forward again....

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Key Economic Events Week of 2/18

2/20 2:00 ET January FOMC Minutes
2/21 8:30 ET Dec Durable Goods and Capital Equipment
2/21 8:30 ET Feb Philly Fed
2/21 9:45 ET Markit Manu and Svcs PMIs
2/21 10:00 ET Jan Existing Home Sales
2/22 Day long Fed Goon appearance at Chicago Booth Policy Forum

Key Economic Events Week of 2/11

2/12 12:45 ET GCP speaks
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2/14 8:30 ET PPI
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Key Economic Events Week of 2/4

2/5 8:30 ET Trade Balance
2/5 9:45 ET Service PMIs
2/5 9:00 pm ET Trump SOTU
2/6 8:30 ET Productivity and Unit Labor Costs
2/6 7:00 pm ET CGP speech
2/7 9:30 ET Goon Clarida speech
2/8 10:00 ET Wholesale Inventories

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