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  1. #1
    Specialist Member RCox's Avatar

    US Retail Sales Sets Up Wednesday Trade !!!

    US Retail Sales Sets Up Wednesday Trade

    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.

  2. #2
    Veteran Member uj.forex's Avatar
    Would probably come better than expected... as the previous manufacturing, home, services, and unemployment data came to be favorable for the country...

  3. #3
    Legendry Member Michael Hodges's Avatar
    Good tip, retail could indeed be better than expected. I will be watching it closely...

  4. #4
    Specialist Member marvel's Avatar
    Thanks, Richard! This week looks will have no major releases and this one will be probably the most important one! I will watch it closely!

  5. #5
    Master Member vinayakm's Avatar
    I really like these threads by our expert traders that give us insightful updates as we get closer to an important market event, etc. It would be nice to have more, if possible!

  6. #6
    Senior Member Deanfx's Avatar
    That kind of threads are great, because this way we are prepared well in advance for the moves and we are not surprised more from such events!

  7. #7
    Specialist Member RCox's Avatar
    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.

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  8. #8
    Specialist Member RCox's Avatar
    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.

  9. #9
    Specialist Member RCox's Avatar
    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.

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  10. #10
    Legendry Member Michael Hodges's Avatar
    I think the number was kind of expected. Other data led us into this. Today's action is a little weak but I think we'll get a positive close. The rally goes on.....

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