Bank earnings, as you can see, aren’t giving the market much inspiration. In fact, despite a good lead from Wall Street on Friday, they’ll probably help push the market lower.

Aside from Earnings, there are two other market-moving Es to keep track of: Energy and the Economy. There’s some great news about Energy further down…and it’s not even a fall in the oil price.

But the Aussie economy isn’t giving away any clues this week. Don’t camp out for any big announcements. Not in Australia anyway.

Over in the US though, house prices and unemployment numbers come through on Wednesday and Friday. They might be good or bad.

Actually, scratch that. They will be bad.

But the Dow Jones doesn’t care about quality…it only really gives a hoot or two if numbers surprise analysts. Be prepared for a chain reaction if that happens. A worse-than expected economy equals falling US stocks. Falling US stocks are, in the absence of anything important happening here, a bad omen for the ASX.

The All Ordinaries is sitting just above a key support line. That makes any big event more important than usual.

So we’d rather just watch the market this week. It doesn’t quite have a clear direction yet. And those US releases have the potential to louse things up again.

We did notice two key developments in the resource sector though.

Last 5 posts by Raymond Teo

• singapore stock market news - October 26th, 2009
• STB hopes to attract more high net worth individuals to Singapore - October 21st, 2009
• australia property market - October 21st, 2009
• australia stock market news - October 5th, 2009
• singapore stock market - September 25th, 2009