Market Direction and Stock Trends

[Zembat]

About 150 S&P 500 companies are scheduled to release quarterly results through Friday, in an earnings season that has been so far mediocre, though nearly two-thirds of companies are beating Wall Street estimates.





On the economic front, there is housing data with existing home sales Tuesday and new home sales Wednesday, and durable goods are reported Thursday.

Developments in Ukraine will also be watched, after signs of progress Thursday. Diplomats negotiating in Geneva announced an agreement to refrain from violence on all sides, disarm militants and release seized buildings.

Corporate profits though will be the key test for a stock market that ended the past week higher, after a violent shakeout in high flying biotech and tech momentum names. Nasdaq, down the prior three weeks, ended the week more than 1 percent higher at 4095, after coming to the brink of correction territory with a total 9.7 percent decline by Tuesday.