"Tuesday's action saw a follow-through from Monday's session, as the Dow Jones Industrial Average (INDEXDJX:.DJI) closed down by 94 points," commented Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Today, markets will be digesting plenty of economic reports, including the Automatic Data Processing (ADP) employment update, the international trade balance, new home sales, the Institute for Supply Management's (ISM) services index, and the Fed's Beige Book." The blue-chip barometer is awaiting direction from this onslaught of data, with futures little changed in pre-market trading.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 9 points below breakeven.
The Chicago Board Options Exchange (CBOE) saw 998,346 call contracts traded on Tuesday, compared to 605,372 put contracts. The resultant single-session put/call ratio jumped to 0.61, while the 21-day moving average stayed at 0.56.
Currencies and Commodities
Earnings and Economic Data
Today's docket is full, with the ADP employment report, the international trade balance, new home sales, the ISM services index, and weekly crude inventories due out, as well as the Fed's Beige Book. Stepping up to the earnings plate are Aeropostale (ARO), Christopher & Banks (CBK), Guess? (GES), Mattress Firm Holding (MFRM), and The Wet Seal (WTSL).
Recent XIV Action May Bode Well for Bulls
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