Existing home sales, out Wednesday at 10 a.m. Eastern, account for the greater part of the market, especially with the glut of homes left over from before the bubble burst.
The companion report, new home sales, will be released at 10 a.m. on Thursday.
Durable goods orders -- for big ticket items that last a long time -- will cap the week at 8:30 a.m. Friday.
Leading indicators out this week:
Average weekly initial jobless claims will be reported at 8:30 a.m. Thursday.
Traders should also keep an eye on these financial leading indicators: The M2 money supply, out Thursday at 4:30 p.m. from the Federal Reserve, and two reported continually during market hours: The S&P 500 index and the interest rate spread between 10-year Treasuries and the federal funds rate.
The index of consumer expectations from the Reuters/University of Michigan consumer sentiment report, at 9:55 a.m. on Friday.
I also like to keep an eye on the Baltic dry index of world shipping, updated daily.
Other reports of interest:
Wednesday: Petroleum inventories at 10:30 a.m., and Federal Open Market Committee minutes from the Aug. 1 meeting at 2 p.m.
Trading calendar
By my rules, as of Monday I can trade September vertical, calendar and butterfly spreads, iron condors and the long legs of diagonal spreads, as well as November single options and straddles. Of course, shares are good at any time.
Good trading!
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