Chairman Powell's Washington testimony & Friday's employment report should be the key this week.  However, we'll also be watching the housing stocks as well.  Higher interest rates create headwinds for many areas.

  • Nice bounce off the key support level for the S&P 500 is encouraging…but it needs to hold.
  • With interest rates rising and earnings estimates falling, the stock market faces larger headwinds.  Thus, Chairman Powell’s testimony and Friday’s employment number should be quite important this week.
  • The housing stocks had a rough February.  Their action over the next week or two is going to be very telling.
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