March 30, 2009 (FinancialWire) (By Genevieve Hawkins) Last week's strong gains may have extended Wall Street's rally, but all of the heavy buying action may indicate that it's time for the bulls to take a breather. Last week the Dow rose 7%, while the S&P 500 rallied 6.2% and the Nasdaq increased 6%, which sent all three indexes up around 20% from their early March lows. Barring a shocking drop on Monday or Tuesday March is set to be the best for the stock market in two decades, but can the good news continue into April? Economic data of interest in the coming week include readings on the service sector, US manufacturing, home prices, consumer confidence, and Friday's all important nonfarm payrolls report. Many companies will be releasing data related to their upcoming first quarter earnings calls, and anything that appears to show stabilization will probably be viewed as a positive sign. There may be some profit taking due to the recent run up, and there is still a chance that a spate of bad news could send everyone running for the exits. The rally could be extended provided nothing too terrible happens, but it's unlikely to have the power that it did last week. More likely there will be a retrenchment as investors reevaluate their positions and figure out how well the new data supports them.

The Investrend Earnings Calendar features Cal-Maine Foods (NASDAQ: CALM), expected at $1.71; Dover Saddlery (NASDAQ: DOVR), expected at $0.09; Forest City Ent. (NYSE: FCEA), expected at $0.49; Layne Christensen (NASDAQ: LAYN), expected at $0.40.

The Investrend Economics Calendar lists Treasury auctions 3&6-month bills, Agriculture Prices for March (3 p.m.).

The Investrend Events Calendar showcases AEP, NCI, NEPI at Platts Wind Power Development Conference; FLR Infocast Offshore Wind Developement Conference; ITWO at International Quality and Productivity Center's Service Parts Inventory Management & Reverse Logistics Summit; NLC Tall Oaks Publishing Water Executive Forum; QUIK Globalpress Connection Electronics Summit.

The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed ten advancers versus 40 decliners. Advancers were led by Dryships Inc. (NASDAQ: DRYS) up 14.70%, Evergreen Solar, Inc. (NASDAQ: ESLR) up 14.22%, Financial Bear 3x (NYSE: FAZ) up 7.03%, Gen Motors (NYSE: GM) up 6.16%. Decliners followed Developers Rlty (NYSE: DDR) down 12.90%, On Semiconductor Corporation (NASDAQ: ONNN) down 8.16%, Financial Bull 3x (NYSE: FAS) down 7.59%, Amer Intl Group Inc (NYSE: AIG) down 7.27%, Seagate Technology (NYSE: STX) down 7.16%, Citigroup Inc (NYSE: C) down 6.76%.

Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).

Investrend Website of the Day: http://www.nasa.gov/multimedia/imagegallery/index.html

Quote of the Day: "Take eloquence and wring its neck." Paul Verlaine

Today is: Doctor's Day.

Happy Birthday: Maimonides, Francisco Goya, Paul Verlaine, Vincent van Gogh, Brooke Astor, Frankie Laine, Sonny Boy Williamson I, John Astin, Peter Marshall, Warren Beatty, Eric Clapton, Paul Reiser, MC Hammer, Celine Dion, Norah Jones.

Today in History: Ferdinand and Isabella signed the Alhambra decree in 1492 aimed at expelling all Jews from Spain unless they convert to Roman Catholicism. Florida Territory was created in the United States in 1822. Anesthesia was used for the first time in 1842 in an operation by Dr. Crawford Long. The Treaty of Paris was signed in 1856, ending the Crimean War. Hymen Lipman patented a pencil with an attached eraser in 1858. Alaska was purchased for $7.2 million in 1867, about two cents per acre, by United States Secretary of State William H. Seward, in a move the news media of the day called Seward's Folly. The first subway in Canada opened in 1954 after five years of construction, in Toronto. Jack Paar hosted his last episode of The Tonight Show in 1962. President Ronald Reagan was shot in the chest in 1981 outside a Washington, D.C. hotel by John Hinckley, Jr., family friend of the Vice President. Fashion model Fabio was hit by a goose in the face while riding a roller coaster in 1999.

[FirstAlert" was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information (http://www.investrendinformation.com). The opinions expressed in FirstAlert" do not necessarily reflect the opinions of Investrend.]

FinancialWire" ( http://www.financialwire.net ), an independent, proprietary news service of Investrend Communications, Inc., receives no compensation for its news or opinions. Further disclosure is at http://www.investrend.com/articles/secondlevel.asp?level=472 . To contact FinancialWire" write to inquiries@financialwire.net .

Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .

Copyright(C)2009 by financialwire.net, Inc. All rights reserved.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.