Friday marked the fourth straight week of declines in the major market indexes. Following the market rally off March lows, the stock market has pulled back in the last several weeks. Investors will be closely monitoring corporate earnings and economic data for any signs that point toward economic recovery.

Wall Street will scrutinize a few specific market sectors this week, specifically banking and technology. Investors will need to see that banking is moving away from assuming excessive risks, and that demand is picking up in the tech sector. Indicators that point to advancing economic improvement will be necessary to encourage investors to return to buying these sectors.

Investors will be looking for signs of improvement in the reports on the coming week's economic calendar. The Commerce Department's retail sales data will be released on Tuesday, as will the Producer Price Index. On Wednesday, the Consumer Price Index for June and the industrial production figures for June will be released. Also on Wednesday, the minutes from the Federal Open Markets Committee's June meeting will be made public; analysts will focus on factors in the Fed's appraisal of the economic forecast. Initial claims for jobless benefits will be available on Thursday. June housing starts, anticipated to match figures from May, will be released on Friday.

8 Stocks to Watch

Altria (MO), Whirlpool (WHR), Pactiv (PTV) have all held price support in a consolidation. All three stocks might be ready for breakouts in the coming week should they get help from the overall market.

Oracle (ORCL) and Covidien (COV) are both riding support in upward trend channels. If channel support holds, each stock has a few dollars to move to the top of the channel.

Wyeth (WYE) is at the confluence of an upward trend and price resistance at approximately $45.50. If WYE can break through, the resistance will become strong support.

Pinnacle West Capital (PNW) has pulled back off a strong uptrend and is on the verge of hitting its 38.2% Fibonacci retracement. If that Fib line can hold, we may see a strong bounce.

Dave Mecklenburg is the Editor-in-Chief of TigerSharkTrading.com.