Today the markets again tested the lows of the last week and bounced creating a large convoluted multi-week pattern. Tonight brought with it better than expected Australia and Chinese data that will add some wind behind this short term bull market. Tomorrow has a lot of US data coming out beginning with Challenger job cuts at 7:30, non-farm employment at 8:15, and at 10:00 PMI, manufacuturing prices, and construction spending, followed by 10:30 crude inventories and 10:45 FOMC Dude speaks. All the news will definitely make for an interesting day.

Markets sold off hard today; initially gapping lower and then continuing lower after closing the gap on weaker consumer spending. Tomorrow will bring Chicago PMI, Consumer Confidence, and FOMC minutes. It will be interesting to see how this market reacts to the data. 1045 is a crucial level so tomorrow will be key in determining where we are headed.

U.S. GDP caused a lot of volatility today in the markets. A lot of investors have been leery of the U.S. dollar with deflation showing up along with worse U.S. data than other countries such as the EU and UK. When GDP came in better than expected it caught traders by surprise and gave traders something to be happy about. Next week we begin with a UK banking holiday and take a closer look at the American consumer and business activity.

Today the market made a nice bottom. This is obviously a short term bottom, but could get some follow through tomorrow. Thursday for econ news we have unemployment claims and mortgage delinquencies. Whatever happens it will be an interesting day.

Today we saw just how bad housing really is in America. Existing homes inventory is now backlogged about 13 months, which is very very high. Tomorrow new home sales is coming out and I don’t expect much more from it than we got today. Investors are now not expecting any rate hike any time soon for the US dollar and that has changed the game slightly. Also, deflation which has had investors leery for quite some time is beginning to really show in the markets. Mr. T said it best in Rocky 3 when he was asked what his prediction was. He said, “Pain!” Of course this directed towards market bulls, but volatility is up and the markets could continue their chop.

[pro-player]http://www.youtube.com/watch?v=_UXomMnQKT4&feature=player_embedded[/pro-player]

Enter a world where pandemonium reigns and reckless ambition rules: the trading floors in the financial canyons of downtown Chicago. Here, these men who use strange hand signals to buy and sell everything from pork belly to soybeans, wear the weight of our failing economy around their shoulders— along with their neon-colored jackets. It’s a physical, bruising place, one where a slight gain creates heroes, rich beyond what their high school educations should ever afford. But the wrong move on the wrong day can ruin lives.

In FLOORED, Director James Allen Smith, not only penetrates this cult-like profession and its closely held customs; he introduces the audience to the men behind the mayhem.

At a time when millions have lost fortunes in the fickle stock market and fear abounds about the faltering financial system, FLOORED is a gripping, honest look behind the curtain of the trading floor that few have ever seen.

“Floored” is out of production and available online.