Tomorrow we have Jeffery Lacker speaking, Redbook, NFIB Small Business Optimum Index, JOLTS, Wholesale Trade, 3 Yr-Note auction and earnings from Coca-Cola Company (KO), CVS Health Corporation (CVS), Starwood Hotels & Resorts Worldwide Inc. (HOT)
Traders like volatility but this is crazy… just look at the last 8 trading days:
Jan 27 -23.6
Jan 30 -30.1
Feb 2 +28.7
Feb 3 +25.0
Feb 4 -12.0
Fed 5 +25.0
Feb 6 -20.0
Feb 9 +10?
In all honesty I am still on the fence with the direction but I also think we could see a PitBull Thursday Friday low this week before the Feb expo but the Jan expo stats are weak…
Range trading; 1970 to 2070 range; great for the guys that sell premium.
Greek and Russians continue to add gas to the fire here in the S&P and that’s not going to stop anytime soon.
High: 2051.30 Mid-morning
Low: 2037.00 Mid-afternoon
Last: 2043.10 , up 9 handles
Volume: LOW 1.25mil ESH and 2.5k SPH trade in the pit
MOC: MiM had $ 1045mil to buy and the ACTUAL was MOC buy $490mil
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