Positive look so far to start the week. Overnight Asian and European markets were up to the tune of about 1% on average. Right now US Futures are up with the Dow up 39 points, the NASDAQ up 9 points and the S&P up 5 points. Probably going to get out of my position in UUP. With a stop loss around 22.43, there isn’t much room to play with.
On the economic calendar there isn’t any big reports due out this morning, but Ben Bernanke is speaking at 11am today, so you can expect all eyes to be on him then. Don’t expect him to unveil the real state of the economy though. Instead, look for him to use only flowery, and rosy type of words to describe the current state of affiairs
Here are Today’s Trade Setups:
Long Setups: BECN, BTIM, DTV, SONC, VGM
Short Setups: ACCL, CHLN, CSKI, CMTL, CTS, CBST, ICON, MICC, QCOR