MONDAY: The market looks to begin the week a bit lower amid big losses in ASian markets and more declines in oil. In the meantime, there is an FOMC Statement release on Monday, followed by Yellen’s press conference. Even with no interest rate change it could be a big week.
TUESDAY: Oil ruled the day yesterday, up and down, but mostly down. This morning, oil is again weak, but stock futures aren’t faring a poorly.
WEDNESDAY: Today is FOMC Statement release day and futures markets are tentative, but higher heading into that announcement. Six months ago, when the last increase came, was there anyone who thought that would have been the only one to come by now?
THURSDAY: The moment yesterday’s press conference ended was the moment the selling started as traders probably realized that increased dovish tones meant the economy wasn’t really moving forward as everyone had come to expect. This morning’s futures continues that trend.
FRIDAY:. Yesterday had a very nice and unexpected recovery. While it doesn’t appear as there’s any left this morning, there’s no reason that there can’t be additional surprises. There is little to move us down and little to move us up, so that’s perfect for such surprises.
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS