The Week Ahead Sees The ECB Meet & Hold A Press Conference

1. Geopolitical Events. On Monday the Republican National Convention will begin. Secretary of State Kerry will meet with EU foreign ministers on Monday as well. On Tuesday the IMF will release its latest world update. On Wednesday British Prime Minister Theresa May will meet with Parliament. On Thursday the ECB will announce its latest decision. On Friday President Obama will meet with Mexico’s President.

2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and housing starts, leading indicators, Philadelphia Fed Manufacturing and existing home sales.

3. Earnings Releases. Notable releases include IBM BAC MSFT JNJ INTC QCOM T V GE HON.

Monday, July 18:

The Republican National Convention begins in Cleveland to nominate its presumptive candidate Donald Trump.

U.S. Secretary of State John Kerry meets with European Union foreign ministers.

Tuesday, July 19:

The International Monetary Fund (IMF) publishes an update to its World Economic Outlook.

June Housing Starts are due out at 8:30 a.m. EDT and are expected to fall to 1,160,000 from 1,164,000.

Wednesday, July 20:

Newly elected British Prime Minister Theresa May meets with Parliament.

Thursday, July 21:

The European Central Bank (ECB) makes its latest announcement at 7:45 a.m. EDT and is expected to hint at more stimulus, with hard announcement due in September. A press conference will follow at 8:30 a.m. EDT.

Republican Presidential Nominee Donald Trump is expected to accept his party's nomination.

At 8:30 a.m. EDT, the Philadelphia Fed Manufacturing Survey is released and expected to rise to 5.0 from 4.7.

At 10:00 a.m. EDT, June Leading Indicators are due out and are expected to rise to 0.2% from -0.2%.

Also at 10:00 a.m. EDT, June Existing Home Sales are due out and expected to fall to 5.47 million from 5.53 million.

Friday, July 22:

President Obama meets with Mexican President Enrique Pena Nieto in Washington.

Charles Schwab (SCHW) holds a business update and is a Type 4 Long Squeeze.