Greetings!

FOMC decision tomorrow around 14:15 Eastern time.

FOMC days have different characteristics than other days. If you are a newbie, you may want to stand aside and get a feel for the trading personality of FOMC days. If you are experienced trader, go back to your notes/journal and try to implement what you observed from past FOMC days.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Feb Import Price Index, Feb Housing Starts, Feb Building Permits, Canada Jan Wholesale Sales
14:15 FOMC rate decision
16:30 API Crude Oil/Gasoline/Distillate Inventories
17:00 Colombia Jan Trade Balance

Events

BoJ rate decision. Goldman Sachs Industrials Unscripted Conference. CMI Analyst Meeting. PCL Analyst Meeting. 07:45 ICSC/UBSW Chain Store Sales. 08:55 Redbook Retail Sales. 17:00 ABC Consumer Confidence. Trades Ex-dividend: SRE $0.39.

Earnings

Before the Open: ARIA, CFSG, CYPB, DSW, EVEP, FDS, FTK, GSI, MDZ, NGPC, SCR, TBSI. After the Close: AIR, ABK, JRJC, NKBP, DFS, EM, KONG, RUE.

Greetings!

Please make sure you are now trading June for both stock indices and currencies!

June is now the front month. ESM0, YMM0, TFM0, NQM0, 6EM0 etc.

Should you have any further questions please contact your broker.

Chart below is daily continuation chart of Mini SP (June is now front month). Green bars show days where we had positive close…notice how many in a row we had including today…FIB extension targets were met at today’s highs…Are we due for a quick sell off/profit taking? Time will tell.

Have a great weekend and a good trading week to come.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

07:00 Canada Feb Unemployment Rate
08:30 Fed Advance Retail Sales (last 0.5%, ex auto 0.6%)
09:55 March prelim Univ of Michigan confidence (last 73.6)
10:00 Dec Business Inventories (last -0.2%), Mexico Dec Industrial Production
14:00 Argentina Feb CPI

Events

08:00 FDA Neurological Devices Panel. Trades Ex-dividend: TROW $0.27. OKE to be added to S&P500, GHL to be added to S&P400, POWL to be added to S&P600 after the close.

Earnings

Before the Open: ANN, CTRN, HIBB, KIRK, PEI.

Greetings!

Please make sure you are now trading June for both stock indices and currencies!

June is now the front month. ESM0, YMM0, TFM0, NQM0, 6EM0, etc.

Should you have any further questions please contact your broker.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

7:00 Canada Feb Unemployment Rate
08:30 Fed Advance Retail Sales (last 0.5%, ex auto 0.6%),
09:55 March prelim Univ of Michigan confidence (last 73.6)
10:00 Dec Business Inventories (last -0.2%), Mexico Dec Industrial Production
14:00 Argentina Feb CPI

Events

08:00 FDA Neurological Devices Panel. Trades Ex-dividend: TROW $0.27. OKE to be added to S&P500, GHL to be added to S&P400, POWL to be added to S&P600 after the close.

Earnings

Before the Open: ANN, CTRN, HIBB, KIRK, PEI.

Greetings!

Please note that Equity Indices products; TF, ES, NQ, EMD and YM roll on Thursday the 11th at 8:30 am Chicago time from the March 2010 contract to the June 2010 contract. The month code for June is ‘M’.

It is recommended that all new positions be placed in the June contract as of Thursday’s trade date.

Please close any open March Currencies positions by the close on Friday the 12th.

Should you have any further questions please contact your broker.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

07:00 Brazil Q4 GDP, Brazil Jan Retail Sales
08:30 Jan Trade Balance (last -$40.2B), Initial Jobless Claims (last 469K), Continuing Claims (last 4.50M), Canada Jan Housing Price Index, Canada Q4 Capacity utilization
10:30 Natural Gas Inventories
13:00 Treasury’s $13B 30-yr note auction

Events

14:00 Fed’s Dudley speaks to London economists. XOM Analyst Meeting. Trades Ex-dividend: ARG $0.22, MO $0.35, DVN $0.16, EQR $0.338, FDO $0.155, HES $0.10, MRK $0.38, NYX $0.30, PSA $0.65, KO $0.44, XL $0.10.

Earnings

Before the Open: CSUN, DK, IMAX, JTX, MEA, PNY, SFD, STEI, SUI, BKE. After the Close: ARO, AIRM, CCO, GG, KOG, NSM, OMPI, OPTR, PSUN, PLL, POWR, ZQK, SEAC, SHFL, SWHC, ZUMZ.

Greetings!

SP monthly chart below for review. While my “emotional brain” tells me there is no reason for us to trade at these levels and that we are overbought, my “beaten by trading brain” tells me to respect price action regardless of what I think should take place or would like to see take place.

Based on the above I think that if the market is able to close above 1148 on a daily basis, the door is open for a test of 1175 followed by 1234. On the flip side we are in a congested, overbought area and if the market fails again at these levels, then a “double top” may be in place and a sell off towards 1017 can follow.

Again, these are my opinion and speculations based on chart reading and in this case I am reading a MONTHLY chart, hence the game plan should adjust to longer term view as well.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

10:00 Jan Wholesale Inventories (last -0.8%)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
13:00 Treasury’s $21B 10-yr note auction
14:00 Feb Monthly Budget Statement (last -$42.6B)

Events

08:00 Joint meeting of the FDA Pulmonary-Allergy Drugs Advisory Committee and Drug Safety and Risk Management Advisory Committee. BoA/Merrill Lynch Consumer Conference. Citi Financial Services Conference. DIS Annual Meeting. MBA Mortgage Applications (7:00, last 14.6%). Trades Ex-dividend: AFF $0.403, ADP $0.34, JCI $0.13, NOV $0.10, NEM $0.10, SII $0.12, ALL $0.20.

Earnings

Before the Open: CAS, AEO, BONT, BF.B, CRZO, PLCE, CWEI, CPIX, ESLT, ELMG, FSIN, HRBN, HWK, QLTI, SOL, TRK, RMIX, MTN. After the Close: AACC, BLDP, CLNE, FCEL, GYMB, HIL, HOTT, IDSY, IPAR, JAS, MW, MBLX, VITA, PRSC, SMTC, STAN, TTGT, WES.

Greetings!

I hope the rest of the week will provide better grounds for day-trading. Today’s session lacked all the necessary ingredients ( as I see it) for day-trading. Very narrow range, lack of volatility…

Some days are like that and as traders we need to control our frustrations when it happens and understand it is part of trading.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

10:00 IBD/TIPP Economic Optimism (last 46.8), Mexico Jan Consumer Prices & Trade Balance
13:00 Treasury’s $40B 3-yr note auction
16:30 API Crude Oil/Gasoline/Distillate Inventories

Events

09:30 Fed’s Evans speaks to economists in Arlington. JP Morgan Aviation, Transportation & Defense Conference. Wedbush Morgan Management Access Conference. ADI Shareholder Meeting. ICSC/UBSW Chain Store Sales (7:45, last -0.8%). Redbook Retail Sales (8:55, last 1.5%). ABC Consumer Confidence (last -49). Trades Ex-split: FPIC 3-2, NCS 1-5. Trades Ex-dividend: ATI $0.18, FDX $0.11, HRB $0.15, HD $0.236.

Earnings

Before the Open: BRNC, CALP, CRIC, CODI, DKS, EJ, EXEL, GPOR, KR, LMIA, NXG, SSI, SWSI, TSTY. After the Close: AONE, AVAV, ALOG, BIDZ, SAM, PSS, DXCM, EXLS, FLOW, ICFI, JCG, SLXP, VRSK, ZIPR.

Greetings!

Market is trying to test recent highs and may do so Monday. Volume is much lighter than when we were going down but no need to argue with price action.

I would not go short this market until I see it break below 1122 using daily chart and 1132 if you are trading off the hourly chart.

Have a great weekend!

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

06:00 Brazil Feb Inflation, Chile Feb CPI
08:30 Canada Feb Housing Starts

Events

17:00 Fed’s Sack speaks to economists in Arlington. Cowen Healthcare Conference. Raymond James Institutional Investors Conference. PSEG Analyst Day. Trades Ex-split: NCS 1-5. Ex-dividend: AEE $0.385, APC $0.09, BAX $0.29, BDX $0.37, CME $1.15, CEG $0.24, NTRS $0.28, OXY $0.33, POM $0.27, RAI $0.90, TRV $0.33.

Earnings

Before the Open: COMV, DGW, FREE, PARD, YGE. After the Close: CAP, CPE, CASY, FRPT, HRB, MAKO, NCMI, RSCR, SNHY, TIVO, VVUS.

Greetings!

Monthly un-employment levels early tomorrow before cash open should take this market out of the recent range and provide a new direction. Wish I had a feeling or idea which way that will be, but I don’t.

I will look for price action and market translation of the data along with behavior around support and resistance before taking a stance.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Feb Nonfarm Payrolls (last -20K), Feb Unemployment Rate (last 9.7%), Feb Manufacturing Payrolls (last 11K), Feb Average Hourly Earnings (last m/m 0.2%, y/y 2.0%)
15:00 Jan Consumer Credit (last -$1.7B)
19:00 Chile Feb CPI

Events

MATK Investor Day. Trades Ex-dividend: FTR $0.25, VFC $0.60.

Earnings

Before the Open: ALC, SOLF.

Greetings!

Monthly outlook available on our weekly newsletter.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

07:00 BoE rate decision, Brazil Jan Industrial Production
07:45 ECB rate decision
08:30 Final Q4 Nonfarm Productivity (last 6.2%), Q4 Unit Labor Costs (last -4.4%), Initial Jobless Claims (last 496K), Continuing Claims (last 4.617M)
10:00 Jan Pending Home Sales (last m/m 1.0%, y/y 10.5%), Jan Factory Orders (last 1.0%), Canada Feb Ivey PMI, Mexico Feb Consumer Confidence
10:30 Natural Gas Inventories
11:00 Treasury note announcement
16:00 Colombia Feb PPI

Events

13:15 Fed’s Bullard to speak in St. Cloud, Minnesota. 13:25 Fed’s Evans Speaks in Chicago on U.S. Economy. Same-store sales before the open. Trades Ex-dividend: BF.B $0.30, NKE $0.27, WYN $0.12.

Earnings

Before the Open: ECOL, FLY, BRLI, CIEN, CNSL, CRTX, DLM, FSYS, HEES, MEI, TYPE, BABY, ORN, OSTK, PPCO, PRFT, RBA, STP, SXCI, TK, USPH, URBN, WEN, WNR. After the Close: AHS, ARST, COO, DEPO, BOOM, EBS, ERII, EQY, GA, MRVL, MDSO, MENT, MOVE, PCTI, SONE, SLW, UDRL.

Greetings!

Looks like we are at a junction where the bigger forces will either push towards new highs or send market back lower. I am not sure at this point and will wait for price action to provide clearer indication.

Daily chart of Dow Jones (mini Dow) is below for your review:

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:00 Brazil Jan Capacity Utilization
07:30 Feb Challenger Job Cuts y/y (last -70.4%)
08:15 Feb ADP Employment Change (last -22K)
10:00 Feb ISM Non-Manufacturing (last 50.5)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
13:00 Mexico Feb Manufacturing Index, Non-Manufacturing Index
14:00 Fed Beige Book

Events

08:00 Fed’s Fisher Speaks on U.S. Recovery in New York. 09:15 Fed’s Rosengren speaks at conference in Philadelphia. 13:00 Fed’s Lockhart speaks in New York. Bank of America Fixed Income Bank & Finance Conference. Credit Suisse Aerospace & Defense Conference. Deutsche Bank Hospitality and Gaming Conference. SWY Investor Day. TAP Investor Day. MBA Mortgage Applications (7:00, last -8.5%). Same-store sales after the close. Trades Ex-dividend: ADI $0.20, CHRW $0.25, FLR $0.125, GPC $0.41, KMB $0.66, OMC $0.20, PBG $0.18, PEP $0.45 PX $0.45, SLM $0.238.

Earnings

Before the Open: BIG, BJ, BWS, CSIQ, CMED, COST, DIN, JOYG, LINC, LOJN, MFB, NNI, NZ, RIMG. After the Close: AIMC, ARII, CBEY, CRA, CWTR, CCIX, CCRN, DAR, DPM, DIVX, DDMX, DAVE, FNSR, FL, FTEK, HMIN, JAZZ, LHCG, NGS, PETM, SIGM, SINA, SUNH, VOLC, WCAA, AUY.