A Look At The Markets For The Week Ahead

A Look At The Markets For The Week Ahead

Share to Linkedin NEW YORK, NEW YORK - MAY 11: People visit the Charging Bull statue in Wall Street on May 11, 2021 in ... [+] New York City. (Photo by Noam Galai/Getty Images) The economic calendar was light last week, but the biggest release was April's FOMC minutes, released on Wednesday. These suggested that the Fed was ready to change monetary policy if the economic recovery stayed strong. However, because this meeting took place before the disappointing April jobs report, many will be looking for confirmation of this stance at the next FOMC meeting in June. Given the recent concerns that the Fed would not be able act in a timely fashion to control inflation, this should have been a reassuring development. However, the stock market did decline in initial reaction to the minutes, while yields rose. Most of the major stock market averages did make their lows on Wednesday, and closed the week well above their lows. The weekly chart shows that $TRAN made a new high at 16, 170 a week ago and formed a doji. A weekly close below the doji low at 15, 340 over the next two weeks would trigger a weekly doji sell