Analysis:
Today both the Empire State Survey and the Industrial Production came in line with consensus, and the market rode on its momentum to close higher. Looking ahead to tomorrow, the Initial Jobless Claims will surprise on the higher side to above 460,000, as they make up for the missed claims last week. The Philadelphia Fed Survey will bring no positive surprise. This will give the market the reason to take profit and close lower.
Strategy:
Sell short at 1,123
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