Your Trading Week Ahead — September 26th

Welcome to Your Trading Week Ahead for September 26th. Here’s what you need to know before you go…

Quick recap

It was a wild week for equity markets amid renewed China drama and FOMC announcements. But the major indices ultimately settled slightly higher to finish the week. And while the last few weeks have felt like a rollercoaster ride at times, markets are nearly flat on month.

The S&P 500 finished at 4,455, up 0.52% on the week. The Dow closed higher by 0.62% at 34,798. Nasdaq closed up only 4 bps at 15,047.

Bitcoin and other cryptos fell late in the week after China once again reiterated their ban on all crypto related transactions. $BTC bounced off of the $40K level on Wednesday before paring some of its losses as fears over a Chinese crackdown reemerged.

Jon Najarian addressed the issue Friday on CNBC’s Halftime Report. Doc pointed out that if China isn’t involved with crypto, they’re going to be left behind:

Jon Najarian on China’s anti-crypto policies:

“China is handing the rest of the world a gift on a silver platter. If they’re not involved with the rest of the world embracing #crypto, they’re going to be left behind.”@HalftimeReport pic.twitter.com/5hwPaW1hZ4

— Market Rebellion (@MarketRebels) September 24, 2021

At writing, Bitcoin is trading near $43,400, down about 9% from last Sunday. Ether ($ETH) -9.2%, Cardano ($ADA) -2.7%, Solana ($SOL) -12%, and ($XRP) -11% are all trading lower on the week as well.

What to watch this week

Powell testifies before Congress

The Federal Reserve will remain a big focus in the week ahead. Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen will testify before Congress on the pandemic and the policy response to it on Tuesday and Thursday.

Powell will also appear on a European Central Bank panel with other central bank leaders Wednesday.

Earnings roundup

There’s only a few noteworthy earrings reports to keep an eye on this week:

• Monday  – Aurora Cannabis ($ACB) after market close.
• Tuesday – Micron ($MU) after market close.
• Wednesday – Jabil Inc. ($JBL) premarket.
• Thursday – CarMax ($KMX) and McCormick ($MKC) premarket. Jefferies Financial Group ($JEF) and Bed Bath & Beyond ($BBBY) after market close.

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• Durable goods and core capital goods orders (August) – Monday at 8:30am ET
• Case-Shiller home price index (July) – Tuesday at 9am ET
• Consumer confidence index (Sept) – Tuesday at 10am ET
• Pending home sales index (August) – Wednesday at 10am ET
• Initial and continuing jobless claims – Thursday at 8:30am ET
• Real GDP revision (Q2) – Thursday at 8:30am ET
• Chicago PMI (Sept) – Thursday at 9:45am ET
• Real disposable income and Real consumer spending (August) – Friday at 8:30am ET
• Core inflation (August) – Friday at 8:30am ET
• Markit manufacturing PMI (Sept) – Friday at 9:45am ET
• ISM manufacturing index (Sept) – Friday at 10am ET
• Consumer sentiment index (Sept) – Friday at 10am ET
• 5-year expected inflation rate (Sept) – Friday at 10am ET

Market Rebellion’s 2021 Trading Conference

We’re just days away from the biggest Market Rebellion Trading Conference ever!

Later this week, we’ll be hosting 2 full days of presentations and trading education LIVE from Las Vegas.  The star-studded event will feature Jon, Pete, the Rebel traders, and an absolutely stacked list of expert guests.

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