What's Ahead In Event-Filled Week...

Good Monday Morning, MPTraders!  July 13, 2026-- Pre-Market Update:  

An event-filled week is starting, with likely market push-pull cross-currents from new inflation data (CPI and PPI), from Fed Head Warsh comments in his Semi-Annual Monetary Policy Report before Congress, and from Earnings reports out of the Banking Sector starting tomorrow morning:  

Earnings: 

• Tuesday: J P Morgan Chase & Co, Bank of America, Goldman Sachs, Wells Fargo, Citigroup

• Wednesday: ASML, Johnson & Johnson, Morgan Stanley, BlackRock, The Bank Of New York Mellon, PNC Financial Services, Elevance, Cintas, United Airlines

• Thursday: Taiwan Semiconductor, UnitedHealth Group, GE Aerospace, Netflix, Abbott Laboratories, State Street, Citizens Financial

• Friday: The Travelers Companies, Truist Financial

Economic Data:

• Monday: Monthly U.S. federal budget (-126.0B)

• Tuesday:  NFIB optimism index (95.8), Consumer price index (-0.2%), CPI y/y (3.8%), Core CPI (-0.2%), Core CPI y/y (2.8)... Fed Chair Warsh testifies before the House Financial Services Committee (10 AM ET)

• Wednesday: Producer price index (-0.2%), Core PPI (0.3%), PPI y/y, Empire State manufacturing survey (9.4), Fed Beige Book... Fed Chair Warsh testifies before the Senate Banking Committee (10 AM ET)

• Thursday: U.S. retail sales (0.2%), Retail sales minus autos (0.0%), Initial jobless claims (218,000), Philadelphia Fed manufacturing survey (9.5), Pending home sales (-0.1%), Business inventories (0.3%)

• Friday: Import price index (0.8%), Import price index minus fuel, Housing starts (1.31M), Building permits (1.41M), Industrial production (0.3%), Capacity utilization (76.3%), Consumer sentiment prelim (50.5), Home builder confidence index (35)

Overlay all of the above on the U.S.-Iran resumption of conflict over the Gulf of Hormuz, and whatever other Administration policy "interventions" that could emerge, and we have ourselves a handful of sessions that imo will be fraught with headline risk(reward), and potentially significant directional price catalysts for the stock indices, individual stocks, and macro, risk-on, risk-off markets such as Gold and Bitcoin... 

Let's get our bearings ahead of Monday's opening bell:

My Big Picture ES setup continues to exhibit EITHER a multi-month high-level, bullish digestion Coil atop the advance from the March 2026 low at 6415.75 to the June 2026 ATH at 7694.75 (+20%) that projects next to a challenge of 7695-7700, OR a Diamond Top Formation that is hanging the proverbial threat, nearing invalidation above the 6/15/26 high at 7648.75. 

As long as any forthcoming weakness is contained above or within a cluster of support lodged between 7510 and 7535 on a closing basis, my technical bias is tilted to the upside for a thrust out of the Bullish Coil formation that heads for new ATHs above 7700... Last in ES is 7594.75...