"The Dow Jones Industrial Average (INDEXDJX:.DJI) jumped on Friday, due to strong payrolls and consumer sentiment numbers," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. The blue-chip barometer is poised to continue with this positive price action today, with futures pointed modestly higher ahead of the bell. "Today's economic calendar is light, but several Federal Reserve officials are slated for speeches, keeping the debate over the Fed's tapering timeline alive and well," said Venosa. "Continue to watch round-number levels on the major indices, including the DJI at 16,000, the S&P 500 Index (SPX) at 1,800, and the Nasdaq Composite (COMP) at 4,000."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 12 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,150,004 call contracts traded on Friday, compared to 610,125 put contracts. The resultant single-session put/call ratio rose to 0.53, while the 21-day moving average stayed at 0.56.
Currencies and Commodities
Earnings and Economic Data
There are no notable economic reports scheduled for today. The Pep Boys - Manny, Moe & Jack (PBY) will report earnings.
Recent XIV Action May Bode Well for Bulls
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