March 13 (Bloomberg) -- Retail sales in the U.S. rose less than forecast last month as an increase in gasoline prices limited spending on other goods.
The 0.1 percent gain followed no change in the prior month, the Commerce Department said today in Washington. Sales excluding service-station receipts were unchanged as the return of colder weather discouraged shoppers.
Maybe Bernanke will quit being so arrogant and listen to Greenspan.
NQ loses 1776.25 support overnight and is now testing its 10 DMA. We are back to playing around with QQQQ 43.
Overnight traders will note that we started selling with the Yen bid, way before the retail sales number came in. That means we are seeing more carry trade unwinding. Option expiration week might pin us and provide some support, but bulls will be on the defensive as long as the Yen stays strong.
Talks of rate cuts will resurface in order to spin the news and try and sucker in more retail traders on which to dump inventory.
The 0.1 percent gain followed no change in the prior month, the Commerce Department said today in Washington. Sales excluding service-station receipts were unchanged as the return of colder weather discouraged shoppers.
Maybe Bernanke will quit being so arrogant and listen to Greenspan.
NQ loses 1776.25 support overnight and is now testing its 10 DMA. We are back to playing around with QQQQ 43.
Overnight traders will note that we started selling with the Yen bid, way before the retail sales number came in. That means we are seeing more carry trade unwinding. Option expiration week might pin us and provide some support, but bulls will be on the defensive as long as the Yen stays strong.
Talks of rate cuts will resurface in order to spin the news and try and sucker in more retail traders on which to dump inventory.
This entry was posted
on Tuesday, March 13, 2007 at 3/13/2007 09:03:00 AM.
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