Quick Update

The market is behaving as expected with the futures up after the speech and economic data. The dollar is rising, as a cause of the better than expected retail sales report (it means less QE). The CPI release is not something to make the Fed change their mind about QE but the pace of change has risen on average for last three months.

I still think the correction has not ended and will probably short on a rally after the Consumer Sentiment data. My preferred level is above the recent highs at 1181 ES.