Economic: Factory Orders (-0.4% vs. prior 0.1%), Pending Homes (1.0% vs. 5.2%).
Earnings: Aggie concern and sometimes "in play" Mosaic (MOS) reports. Analysts expect the company to post profits of $0.72 versus prior year's $0.23 per share. Technical case for bulls is slightly deep corrective weekly cup-shaped base with handle construction and recent 50 / 200 "Golden Cross."
Notable: A light earnings front will be beefed up with a handful of influential names such as Costco and Yum! Brands, as well as the start of the Q3 reporting season with Alcoa's (AA) processional lead on Thursday evening.
A full economic calendar of data will continue to motivate bulls and bears for a second straight week. Watchdogs' in-the-spotlight report won't be available until Friday's show, at which time nonfarm payrolls data for September should provide greater insight into the US' still, very much a reality, jobless recovery.
Tuesday:
Economic: ISM Services (51.8 vs. 51.5).
Earnings: Wolverine (WWW). After the Close: Diamond Foods (DMND), YUM! (YUM).
Wednesday:
Economic: Weekly Crude data, ADP Survey (18K vs. -10K), MBA Mortgage "Apps" (Is there an "app" for bulls?)
Earnings: Constellation Brands (STZ): Analysts expect a 10% decline in profits from $0.54 to $0.49 per share for the purveyor of fine spirits. Technically and more bullishly-postured, STZ has established a weekly Cup & Handle pattern.
Consumer wholesaler Costco (COST) is forecasted to bring in a near 15% profit jump on earnings of $0.95 per share. Technically, shares have forged an uncharacteristically strong run in front of the report and prone to a "sell the news" reaction.
Aggie giant Monsanto (MON) is expected to show a loss of -$0.06 compared to last year's $0.02. Technically shares have been under extreme duress and nearing prior YTD and multi-year lows on sales and pricing concerns related to glyphosate and Smartstax corn seeds, as well as Roundup product related to birth defects according to study released Thursday.
After the Close: Immucor (BLUD), Marriott (MAR) and Ruby Tuesday (RT).
Thursday:
Economic: Weekly Claims (455K vs. 453K), Continuing Claims (4.45M vs. 4.45M), Consumer Credit (-$3.0B vs. -$3.6B).
Earnings: PepsiCo (PEP).
After The Close: Earnings season for Q3 "officially" begins with Dow component and aluminum concern Alcoa (AA). Company expected to show 50% increase in profits from prior year's $0.04 to earn $0.06 per share.
Technically, shares of AA appear to be near major crossroads after staging rally from weekly corrective bottom in excess of 50% and breaking prior downtrend line. Bulls are now approaching neckline resistance from prior Oct 09 – April 10 H & S top.
Others: Micron (MU) and AngioDynamics (ANGO).
Friday:
Economic: September Monthly Jobs expected to show stagnant "0.0K" result compared to August's loss of -54,000 in nonfarm payrolls. Private ranks are expected to show a 70,000 increase on top of prior month's jump of 67,000, while unemployment rate is forecasted to show slight one-tenth of a percent uptick to a still steep 9.7%. Other: Wholesale Inventories (0.4% vs. prior 1.3%).
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