Economic calendar chock full this week ...

The Economic Calendar is likely to influence trading this week as a host of market moving releases come out this week starting today with the Chicago Purchasing Managers Reports and the Dallas Fed Manufacturing Activity Report.

As the week progresses we will get a look at the housing market (12/1) with Construction Spending and Pending Home Sales.

Then rounding out the week we get a detailed look at the labor markets with the ADP Employment Outlook, Initial Jobless Claims and Non Farm Payrolls.

As we always say news is not as important as how the market reacts to it. That said the market’s reaction to the recent negative news out of Dubai shows traders have itchy trigger fingers at these elevated levels as compared to their comfort level with less than rosy news at lower levels.

We would expect a lot of volatility this week as these economic releases roll out. We would suggest reviewing stops and targets this week.