Stock Market commentary for Feb 8-12
It should be a slow week in the markets as there is very little important US economic data coming out and no major catalysts. The only US economic data we may be interested in is the US Retail Sales for Jan figure that is set to be released on Thu Feb 11. The sales data should be expected to be low given it is at the beginning of the year but it will be interesting to see if there is any improvement from last year. We did see a sharp rebound in the stock market late friday afternoon and on a lot of the charts, we saw a hammer formation which is bullish for the markets. I suspect that we’ll get some sort of a market rally since we are so oversold in the short term. If there’s no negative news then we might see a bias towards the upside this week. Good luck!
