Tonight is an interesting night with Japan’s unemployment rate holding steady with their consumer improving and to cap it off Chinese PMI improved over the last reading. News for Friday begins at 8:30 AM with personal spending, personal income, and FOMC member Dudley speaking. Then at 9:55 the revised UoM consumer sentiment number comes out with ISM manufacturing PMI, construction spending, and ISM manufacturing prices following at 10 AM. All of this should make for a good market, and to add more excitement vehicle sales will be talked about throughout the day with the number showing up before the close.

Thursday is going to be a day of extreme volatility. Unemployment claims and GDP begin the fun at 8:30 followed by Chicago PMI at 9:45 and the Bernanke testimony at 10:00. At 10:30 Natural Gas Storage numbers come out and the day is capped off by a Bernanke speech at 2:30. There is a good chance that unemployment claims are close to the projected expectations and GDP will probably be around there too.

On Wednesday Crude oil inventories are out at 10:30 AM followed by FOMC member Member Rosengren speaking at 1:15. 1141.5 held nicely as support as that level oversaw a nice battle on the day. The market is poised to head lower, but could chop around and make a high before doing so; with that said the afternoon session will probably be slow with GDP coming out Thursday.