A quick glance at the calendar this week and an instant case of nausea should set in. The week is not only overloaded with reports, but only a few are expected to show improvement.

I don’t think I have to tell you how bad this could be. The market is already on shaky ground, and a week full of disappointing reports could plunge us back below the 7200 level.

With such a full week, I will briefly touch on a few of the more important reports.

Both the ISM Index and ISM Services reports are expected to show a drop for February. With a reading of 34 on the ISM, and 41.3 on the Services, both are indicating further contraction.

On Tuesday, the Pending Home Sales report for January is released, and is expected to show a decline of three percent. I actually expect this report to beat expectations with all the foreclosures and

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strongMonday:/strongbr /Economic Construction Spending (-0.9%), ISM (38.0)br /Earnings Shanda (SNDA), Zoltek (ZOLT)br /br /strongTuesday:br //strongEconomic Truck / Autobr /Earnings Beazer (BZH), Sears (SHLD), Solarfun (SOLF), Staples (SPLS), Marvell (MRVL)br /br /strongWednesday:/strongbr /Economic Weekly Crude, ADP (-173K), Productivity (0.9%), ISM Services (42.6), Beige Bookbr /Earnings Del Monte (DLM), Aeropostale (ARO), AeroVironment (AVAV), Casey’s (CASY), Diamond Foods (DMND), Synopsys (SNPS)br /br /strongThursday:/strongbr /Economic Weekly Claims, Factory Orders (-2.7%)br /Earnings Argon (STST), Jackson Hewitt (JTX), Sanderson (SAFM), Movado (MOV), Toll Bros (TOL), UTI World (UTIW), Williams Sonoma (WSM), Comtech (CMTL), Guess (GES), Teekay (TK)br /br /strongFriday:/strongbr /Economic Monthly Jobs (-300K, 6.8%, 0.2%)br /Earnings Big Lots (BIG)div class="blogger-post-footer"http://stockweb.blogspot.com/atom.xml/div pa href="http://feedads.googleadservices.com/~a/f8zvy8N0zqZISa6P6e2WUhDzAco/a"img src="http://feedads.googleadservices.com/~a/f8zvy8N0zqZISa6P6e2WUhDzAco/i" border="0" ismap="true"/img/a/pdiv class="feedflare" a href="http://feedproxy.google.com/~f/Stockweb?a=sbBD6rCt"img src="http://feedproxy.google.com/~f/Stockweb?d=41" border="0"/img/a /div

Both the ISM Index and ISM Services reports come out this week, and it looks like the slide continues. The Index report coming out this morning is likely to show a drop to 42.0 from last month’s 43.5 reading.

The Services Index is likely to show a more dramatic shift. Last months reading was 50.2, which shows ever so slight expansion since the reading was above 50.0. This month the reading is expected to dip down to 48.5, signaling contraction.

Factory orders for September are expected to show another drubbing. After posting a 4.0 percent drop in August, this report is expected to follow that up with another 1.5 percent drop in September. With GDP figures last week showing a smaller decline than expected, it may translate into a slightly better final number, although I would still expect to see a negative reading.  The Chicago Purchasing Managers Index showed a much

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Monday:Economic Construction (-0.8%), ISM (42.0)Earnings Allegheny Energy (AYE), DryShips (DRYS), Goodyear (GT), Oshkosh (OSK), Anadarko (APC), Auto Data (ADP), Herbalife (HLF), MasterCard (MA), Mohawk (MHK), Open Text (OTEX), Otter Tail (OTTR), Rock Tenn (RKT), Pitney (PBI), Principal Fin (PFG), Viacom (VIA.B)Tuesday:Economic Truck / Auto, Factory Orders (-1.5%)Earnings Archer D (ADM), Emerson (EMR), FirstEnergy (FE), Graftech (GTI), Jacobs (JEC), Marvel (MVL), Rowan (RDC), RTI (RTI), Vornado (VNO), West Pharma (WST), Blue Nile (NILE), Kendle (KNDL), Ultra Petrol (UPL), Weight Watchers (WTW), W Greatbatch (GB)Wednesday:Economic Weekly Crude, ADP (-80K), ISM Services (48.5)Earnings Agrium (AGU), AMBAC (ABK), Arcelor Mittal (MT), Clean Harbors (CLHB), Cognizant (CTSH), Duke (DUK), GM (GM), Molson (TAP), Quanta (PWR), Sara Lee (SLE), Time Warner (TWX), Transocean (RIG), XTO (XTO), Activision (ATVI), Central Euro Dist (CEDC), Charles River (CRL), Excel M (EXM), Leap W (LEAP), Ormat (ORA), Sina (SINA), Vulcan ...