Trade for Today

Fed is showing confidence in economy and so do economy proving after solid GDP figures and consumer spending grew 3.3% in Q4, the fastest clip in some memory and up from 2% in Q3. Non residential fixed investment grew 3.8% vs. 4.8% previously. Government spending fell 12.6% vs. a 1.5% decline in Q3. Real final sales grew 2.8% vs. 2.5% in Q3.For the year, real GDP increased 1.9% vs. 2.8% in 2012. The price index rose 1.2% vs. 1.7%.Although earnings are overall not so impressive.

Following are trade calls for today,

• Buy #DJIA(Dow Jones) at 15760 stop below 15685 target 15930/16010
  
• Buy Cad/Jpy at 91.50 stop below 91.00 target 92.30