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Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are wallowing in the red this morning, as investors digest the latest round of earnings to hit the Street., Inc. (NASDAQ:AMZN) and Mattel, Inc. (NASDAQ:MAT) are both pointed lower following their results; however, Google Inc (NASDAQ:GOOG), Chipotle Mexican Grill, Inc. (NYSE:CMG), and Zynga Inc (NASDAQ:ZNGA) are all positioned higher in the wake of their quarterly reports. On the economic front, personal income and spending figures, the Chicago purchasing managers index (PMI), and the final Thomson Reuters/University of Michigan consumer sentiment reading for January are due out.

"The 1,770 level on the S&P 500 Index (SPX) I mentioned earlier this week has held, and it looks like it could provide some support for the market," maintained Schaeffer's Senior Trading Analyst Bryan Sapp. "Meanwhile, the index rallied right up near the round-number 1,800 level yesterday, but retreated on an intraday basis. Going forward, the bulls will want to see this area taken out, as it could be a sign that the market is ready to resume its longer-term uptrend."

Plus, our Trading Topic of the Week -- 5 Tips for Short-Term Trading: Determine your exit plan in advance. Lay down some ground rules before entering the trade, or you might find yourself paralyzed by a big stock swing -- or, just as dangerous, caught up by fear or greed.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are nearly 178 points below breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,345,559 call contracts traded on Thursday, compared to 726,483 put contracts. The resultant single-session put/call ratio fell to 0.54, while the 21-day moving average stayed at 0.55.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"The new American Association of Individual Investors sentiment poll that surfaced yesterday showed more bears than bulls," noted Sapp. "It's been about six months since that last occurred, and is yet another sign of disbelief toward the market. Seemingly, every correction -- the S&P 500 is only about 3% off its all-time highs -- brings bears out in droves, and this bodes well for bulls going forward."

Currencies and Commodities

  • The U.S dollar index is sticking close to the flatline this morning, with the currency lingering near 81.09.
  • Crude oil, meanwhile, is seeing some selling pressure after reaching a year-to-date high on Thursday. At last check, the front-month contract was 0.8% lower at $97.41 per barrel.
  • Elsewhere, gold futures are on the mend, with gold for April delivery up 0.5% at $1,248.30 an ounce.
Currencies and commodities

Earnings and Economic Data

The week closes out with personal income and spending figures, the Chicago PMI, and the final Thomson Reuters/University of Michigan consumer sentiment reading for January. The earnings docket includes quarterly reports from Chevron (CVX), Legg Mason (LM), MasterCard (MA), MAT, Mead Johnson Nutrition (MJN), Tyco International (TYC), Tyson Foods (TSN), and Weyerhaeuser (WY).

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