Stock market expected to open higher because of ECB LTRO operation.

US stock market sold off and now its in bearish zone but it will require one more sell off to confirm bearish trend. In order for bearish sentiment to continue Dow needs to break 13,356 resistance. But since ECB is carrying LTRO operation, market is expected to open higher and Dow will test 13466 resistance. On the downside it will be big achievement for bears, if Dow can break 13,407 point which is just 6 point down from today close.

Dow jones likely to test 13,466 resistance tomorrow. Expect higher open tomorrow and based on US GDP it will take direction.

Session				Time	Currency	Event	Impact	Actual	Forecast	Prev.
				2:00	EUR	German Import Price Index	low		0.8	0.7
				2:00	EUR	German Import price index	low		2.7	1.2
				3:00	EUR	EU Vice President Almunia at International Competition conference	low
				3:55	EUR	German Unemployment Rate (sa)	high		6.8	6.8
				3:55	EUR	German Unemployment Change	med		10	9
				4:00	EUR	M3 Money Supply (sa)	med		3.4	3.4
				4:00	EUR	M3 Money Supply (sa)	med		3.3	3.8
				4:30	GBP	Current Account	med		-12.2	-11.18
				4:30	GBP	GDP (Final)	high		-0.5	-0.5
				4:30	GBP	GDP (Final)	high		-0.5	-0.5
				5:00	EUR	Economic sentiment	med		86.1	86.1
				5:00	EUR	Business Climate Index	low		-1.2	-1.21
				5:00	EUR	Industrial sentiment	med		-15	-15.3
				5:00	EUR	Consumer sentiment	med		-25.9	-25.9
				8:30	USD	Initial Claims	med		375	382
				8:30	USD	Core PCE Price Index (Final)	med		1.8	1.8
				8:30	USD	GDP Annualised (Final)	med		1.7	1.7
				8:30	USD	GDP Deflator (Final)	low		1.6	1.6
				8:30	USD	Durables ex defence	high			5.7
				8:30	USD	Durable goods orders	med		-5	4.1
				8:30	USD	Durables ex transport	high		0.2	-0.6
				10:00	USD	Pending home sales	med			2.4
				18:45	NZD	Building Permits	low		3	2
				19:01	GBP	Gfk Consumer Confidence	med		-28	-29
				19:30	JPY	Unemployment	undefined		4.3	4.3
				19:30	JPY	CPI Core (Nation)	med		-0.3	-0.3
				19:30	JPY	CPI Core (Tokyo)	med		-0.3	-0.5
				19:30	JPY	Real Household Spending	med		1.1	1.7
				19:50	JPY	Large Retailers sales	low		-1.7	-4.4
				19:50	JPY	Retail sales	med		-0.3	-0.7
				19:50	JPY	Retail Sales	med		-0.3	-1.5
				19:50	JPY	Industrial Production (Prelim.)	med		-0.5	-1
				19:50	JPY	Industrial Production (Prelim.)	med		-3.4	-0.8
				20:00	USD	Fed's Fisher speaks on "An Analysis of the Current State of the Economy and Business Environment"	low
				20:00	EUR	ECB Governing Council member Asmussen to participate in discussion on economy in Berlin	low
				21:30	AUD	Private sector credit	med		0.3	0.2
				23:00	NZD	Monetary Aggregates M3	low			7.2

All earnings releases

Company Name	Time	Transcript	Wall St EPS Est($)	Actual EPS($)
ACCENTURE PLC  ACN	After Market Close	N/A	0.88	N/A
ACTUANT CORP  ATU	Before Open	N/A	0.54	N/A
AZZ INC  AZZ	After Market Close	N/A	0.52	N/A
DISCOVER FIN SV  DFS	Before Open	N/A	1.04	N/A
GLOBAL PAYMENTS  GPN	After Market Close	N/A	0.87	N/A
IDT CORP-CL B  IDT	After Market Close	N/A	0.12	N/A
MCCORMICK & CO  MKC	Before Open	N/A	0.76	N/A
MICRON TECH  MU	After Market Close	N/A	-0.21	N/A
NIKE INC-B  NKE	After Market Close	N/A	1.12	N/A
RADIANT LOGIST  RLGT	After Market Close	N/A	0.01	N/A
RESEARCH IN MOT  RIMM	After Market Close	N/A	-0.46	N/A
SEALY CORP  ZZ	After Market Close	N/A	0.03	N/A
WORTHINGTON IND  WOR	Before Open	N/A	0.47	N/A