March 19, 2017 The Week Ahead

The markets were relatively mixed on the week, as traders and portfolio managers took some time to digest the latest interest rate hike from the FOMC, and their plans on future rate decisions. With that said, the S&P 500 and Dow Jones Industrials sold off on the week. However, the Russell 2000 was extremely strong, gaining nearly 2% on the week.

There isn’t a whole lot this week in terms of economic announcements or earnings. Most likely, traders will be paying attention to politics and single stock name opportunities.

Where is the VIX in all of this?

The VIX continues to hangout below 12. On Friday, the VIX closed at 11.75. Based on some of the volatility estimators that we look at, the SPDR S&P 500 has a 20-day volatility of 7.26% compared to its median of 10.91% over the last 3 years.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.39%, iShares 20+ Year Treasury Bond (TLT) +1.19%, SPDR Gold Shares (GLD) +1.98%.

Here is a list of some events that traders will be following during the week:

Key Economic Data:
22 March 2017- Existing Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
23 March 2017- Jobless Claims 8:30 AM ET; New Home Sales 10:00 AM ET;
24 March 2017- Durable Goods Orders 8:30 AM ET; PMI Composite Flash 9:45 AM ET

Key Earnings:
20 March 2017- JMBA, MOV
21 March 2017- FRAN, GIS, LEN, AIR, FDX, NKE, SCS
22 March 2017- FIVE
23 March 2017- GME, KBH, MU, OXM
24 March 2017- FINL

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