To validate the potential selloff in US, it helps the situation to have the VIX double bottom exactly on the 50MA, so we may see tonight and Friday’s action. Option pain for SPY is right at 110, so a tight range is also possible through the end of the week.
We’ll see what action we get based on tonight's PPI and Jobless data.
(date/time is in EST)
Thursday, February 18, 2010
Economic
07:00 Canada Jan CPI
08:30 Jan PPI (last m/m 0.2%, y/y 4.4%, ex food & energy last m/m 0.0%, y/y 0.9%), Initial Jobless Claims (last 440K), Continuing Claims (last 4.538M)
10:00 Jan Leading Indicators (last 1.1%), Feb Philadelphia Fed (last 15.2)
10:30 Natural Gas Inventories
11:00 DoE Crude Oil/Gasoline/Distillate Inventories, US Treasury note announcements
Events
18:00 Fed's Duke to speak. 19:00 Fed's Lockhart to speak on US outlook. 20:30 Fed's Bullard to speak on the US economy. Trades Ex-dividend: AIZ $0.15.