The market's about to punch through that 200DMA which doesn't appear to present as a triple top bounce point in the current econ environment.
The favorable, light econ week ahead could be enough to force that next short squeeze I've been blabbing about.
So far so good with German Retail Sales.
>> When adjusted for calendar and seasonal variations, April turnover rose 0.5% in real terms, month-on-month. Economists had been expecting a 0.1% decline in the month <<
APR US Spending is good to fair, but more importantly, wages remain increasing indicating zero competition for labor (surprising considering the available labor pool these days) or deflation.
>> The Commerce Department said spending slipped 0.1 percent after a revised 0.3 percent fall in March, previously reported as a 0.2 percent drop. That was slightly better than market expectations for a 0.2 percent fall in spending.
Personal income rose 0.5 percent, the biggest increase since May last year, after falling by a revised 0.2 percent in March, which had been reported as a 0.3 percent decline in March. Analysts polled by Reuters had forecast income to fall 0.2 percent in April.
Excluding the stimulus package, real disposable income increased 0.7 percent in April. Savings jumped to a record annual rate of $620.2 billion. The savings rate rose to 5.7 percent in April, the highest level since February 1995, from 4.5 percent the previous month. <<
