A nice buy-the-dip/support level trade here. SH = Inverse S&P 500 return x 2.@1360-70, the risk/ reward of shorting the S&P become favorable. I'll start to look for levels to short into the ES.
The employment news was just bad. The market doesn't seem to be reacting too much to it. All we need is some bad news to send this market down the spiral.
| Apr 07 | 15:00 | Consumer Credit | Feb | $5.0B | $6.0B | $6.9B | ||
| Apr 08 | 10:00 | Pending Home Sales | Feb | -0.5% | 0.0% | |||
| Apr 08 | 14:00 | FOMC Minutes | Mar 18 | |||||
| Apr 09 | 10:00 | Wholesale Inventories | Feb | 0.7% | 0.5% | 1.0% | ||
| Apr 09 | 10:30 | Crude Inventories | 04/05 | NA | NA | 7317K | ||
| Apr 10 | 08:30 | Initial Claims | 04/05 | 380K | NA | 407K | ||
| Apr 10 | 08:30 | Trade Balance | Feb | -$57.6B | -$57.4B | -$58.2B | ||
| Apr 10 | 14:00 | Treasury Budget | Mar | -$70.0B | -$80.0B | -$96.3B | ||
| Apr 11 | 08:30 | Export Prices ex-ag. | Mar | NA | NA | 0.5% | ||
| Apr 11 | 08:30 | Import Prices ex-oil | Mar | NA | NA | 0.6% | ||
| Apr 11 | 10:00 | Mich Sentiment-Prel. | Apr | 68.0 | 69.4 | 69.5 |
Pending home sales and FOMC will be the market mover of the week. Monday would likely be a slow day. I'm looking for the market to get volatile after Tuesday. Volatility = Opportunity.
What's the rate cut expectation by the way?
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