U.S. equities continue to defy certain pundits expectations, where is the pullback?

Stocks rose for a 3rd straight week as earnings have encouraged investors, especially from the tech sector. The week ahead promises an even broader picture on the health of the economy with one third of the S&P 500 reporting their earnings results. I will be particlarly interested in what Norfolk Southern (NYSE: NSC) has to say on the state of the rail transportation industry, a key metric in my book that sheds light on economic activity. NSC reports their 3rd quarter results this upcoming Wednesday.

Capping the week on Friday we get our first look at the 3rd quarter G.D.P. numbers. I do not think that anyone is expecting meaningful growth in our economy yet, but any signal of an increase especially from the consumer would be a surprise and would be welcomed. In my most recent posts I elude to the markets potentially double topping, this could be the week that decides whether we have a double top breakout or if the double top stands true to it’s form.

Have a healthy and prosperous week.