We trade today, Bull on SPY with short leg at $159 for 2% and it got filled completely. It was a quite day from US economic data release. St. Louis Centrist Fed Chief James Bullard provided a mixed indications this morning in his speech for FOMC's next move saying Labor Market Conditions are getting better opening a way for Fed to start tapering off stimulus. He also said that Inflation data is well below the target so that opens the door for continuing the stimulus for long time. S&P upgraded its outlook for long-term rating for the US from negative to stable this morning. Stocks started the day higher and then traded lower after first half an hour and traded within short range throughout the day. Major Indexes were virtually flat by the closing bell. SPY closed at $164.80 leaving a cushion of $5.80 for our trade with 4 days of trading left for the week.

We'll see Small Business Optimism Index data and Wholesale Trade data released tomorrow morning, nothing that can really move market in any direction. Overseas we'll see Interest Rate Decision from Bank of Japan and Industrial Production data out of UK.
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