Wednesday we will have the Advance Retail Sales report out of the US, which is expected to show a rise of 0.5% for the month (up from 0.1% previously. The number is likely to have more of an influence on stock markets than currencies, so for this release the trading vehicle will be the S&P 500. Time of release is 12:30 GMT on 3/13 and since the data comes out before the open, I might actually hold off on the trade until markets open one hour later.
An hour until the data is released, 0.5% is the expected increase for the month. At the moment, the levels to watch at 1557 (resistance) and 1547 (support) in the S&P 500 but this lower end might give way before the number is released.
Strong number, 1.1% (more than double expectations). Even the core figures were above expectations, so this should be supportive for the S&P today. Support at 1547 held, CALLS can be taken at this area during the US session.
Prices have bounced multiple times from the 1547 support area but we are having trouble overcoming resistance and this is a good time to exit positions at a gain if the option is available. Likely to be caught in a range today, making exact time frames less predictable.