Are you waiting for a major directional move away from the consolidating, choppy financial markets we’ve been experiencing lately? Well, this week is going to provide a sense of both reality and direction if companies come clean and report their honest bottom line over a fluffed bottom line. How creative will the corporate accounting firms be this quarter in order to keep markets floating on cloud nine?
The financial markets sit in the middle peak of the W-shape forecast recovery. Will the balloon begin letting out some air of the rally this quarter? Or, will stocks continue to fly high with the doctor’s everlasting dosage of helium?
All eyes will be on this week’s Big Beasts reporting earnings. Let’s look at some of the important technicals:
Tuesday (10/13) — Tech giant Intel (INTC) and healthcare leader Johnson & Johnson (JNJ):
Wednesday (10/14) — Health care company Abbott Labs (ABT) and banking behemoth JP Morgan (JPM):
Thursday (10/15) — Are you still solvent Citigroup (C)? We also have Goliath Google (GOOG) and the upward trending Goldman Sachs (GS):
Friday (10/16) — When will Bank of America’s (BAC) 2nd liens ever be exposed? Heavyweight General Electric (GE) is still holding onto its head coach with a losing record, Jeff Immelt:
Last week after hitting the two-year anniversary of the S&P 500’s closing peak, we’ll have to wait-and-see if we’re at the peak of the potential W-shaped recession scenario. Cost-cutting has been in effect for quite some time now, and bottom line profits have been juiced up during a recession with 1 out of every 6 Americans still unemployed.
In order for Wall Street to exceed expectations this quarter and show signs of growth, investors and traders must be seriously impressed by a surprise upside to top-line sales. Chicago’s loss of the Olympic Bid may have been the first of several disappointments this quarter.
In an altered version of Cuba Gooding Jr.’s famed line in the movie Jerry Maguire, this quarter’s tag line will be “Show me the revenues!”