Heavy Weight Week Ahead...

The Dow closed the week almost totally stagnant last week amidst equally shaky crude oil price. Yes, Warren Buffett failed at his evil scheme of trying to bring the market down with his recessionary talk and proved that investors are smarter than what a few people think. The theme for the coming week is straight forward; Economic Recovery and Crude Oil Price. On the economic recovery front, investors are expecting the ISM index and the Jobs report (see economic calendar) to continue the economic recovery story and on the crude oil front, investors continue to hope for lower prices. Technically, crude oil is once again at a strong support level and if it continues it past behavior, it could close the week yet higher. However, that outlook is now pretty shaky as new supply arrives from the Saudi this month. And yes, energy conservation is not only for the sake of the stock market but for the sake of the world and all of mankind.