The stock market extended its rebound on Friday confirming a reversal in the S&P 500. The index formed a Head & Shoulders reversal pattern at the 4300 level and is on track to reclaim its recently set all-time high this week. The market should be supported by earnings as the Q3 earnings season kicks into high gear but there is still a risk for stocks in the global supply chain issues plaguing the economy today.

This week, earnings from Johnson & Johnson, WD 40 Corporation, Verizon, and Whirlpool will be in the market?s focus. If they can sustain the trend of better than expected results the broad market should continue higher. Also on tap this week, key reads on the housing market, the Fed?s Beige Book, and the Index of Leading Indicators.