retail Sales

Without a doubt, the most important announcement coming out during the session will be Retail Sales in the United States. With this, the market will be focusing on the United States and perhaps the United States dollar. With this, it could move most of the markets in general.

S&P 500 approaching support zone

The S&P 500 fell rather significantly during the course of the session on Wednesday, but we think that there will be quite a bit of support somewhere near the 2050 handle. With this, we are looking for supportive candles in order to serve buying calls as we should continue to bounce in consolidation.

USD/CAD tests 1.30

The USD/CAD pair fell significantly during the session on Wednesday, but started to find buyers near the 1.30 level. Because of this, we feel that this market will probably go higher, especially if the oil markets continue to show significant weakness. We believe that call buyers will push this market back towards the 1.31 handle.

DAX falls apart

The DAX fell rather hard during the course of the session, slicing through the €11,000 level. Because of this we feel that the market is heading down to the €10,700 level, as it showed support previously. We believe that the DAX will find buyers eventually, but in the short-term you have to favor the downside.