Stock Market:Looking Forward to Next Week!

Let’s start with the earnings.

Monday: Aluminum giant Alcoa, Education company Apollo Group (APOL) and personal-products maker Helen of Troy (HELE).

Tuesday: Supervalu (SVU)

Thursday: Intel (INTC)

Friday: JPMorgan Chase (JPM)

Then, Here are the economic reports to watch for:

Mortgage applications, due Wednesday from the Mortgage Bankers Association.

The Federal Reserve's Beige Book report, due Wednesday.

Producer Price Index and Consumer Price Index reports for December, due Thursday and Friday from the Labor Department. T

Retail sales for December, due Friday from the Commerce Department. 

Industrial production for December, due Friday from the Federal Reserve.

Reuters/University of Michigan Consumer Sentiment Index, due Friday.

Market For  the Week

The major indexes are trading substantially higher than their 50- and 200-day moving averages, both key support levels. And every time the market looks like it's about to pull back, new buying comes in.

The reason for this strength is the enormous optimism on Wall Street about the U.S. economy's 2011 prospects. Despite Friday's report of 103,000 jobs created in December -- less than expected -- the Street sees more job gains ahead.

There is some fear that stocks are becoming pricey and in danger of a pullback.

A pullback is probably in the cards, but the market doesn't face the potential mayhem that it faced in 2008.