The Week Ahead May 16, 2021

May 16, 2021 | The Week Ahead

  • The week ahead has some end of April quarter-end companies reporting 
  • The economic data has a few reports worth watching however unlikely any market-moving reports
  • The Fed minutes on Wednesday will also move the markets as it was telegraphed clearly by Powell at his press conference
  • Equity bullish sentiment closed lower on the week however off the lows
  • Commodity bullish sentiment reversed down hard from extreme levels 
  • My current view is the bounce with the S&P will be a lower high corrective wave 2 bounce
  • Bitcoin is trading close to the lower end of the week's range and is close to qualifying downside wave 3
  • Have a great week!