The Financials sector, XLF, and banking stocks (GS, JPM, C, BAC & MS) are currently being propped up so far today at near-term support as shown on the Daily chartgrid below.
They are currently below today's opening price, but have been holding their own, so far, as shown on the 1-day 1-minute comparison chart below.
The YM, ES, NQ & TF are high-basing near Friday's highs as shown on the Daily chartgrid below.
European Industrial Production was down as reported in the monthly figures today...as can be seen on the chart below, it fell below its lowest level in 2010 down to 2009 levels.
The EUR/USD is much weaker than the Major Indices today, as shown on the Daily chart below...something I'll watch for is whether the U.S. equities markets are de-coupling from the Euro or not over the next days.
The Commodities ETF, DBC, is trading near Friday's lows, similarly to the Financials, as shown on the Daily chart below...will look for further clues of either firming at these support levels, or a weakening over the next days.
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UPCOMING (MAJOR) ECONOMIC EVENTS...
* Tues. Jan. 31 ~ 2-day FOMC Meeting Begins
* Wed. Feb. 1 @ 2:00 pm ET ~ FOMC Announcement
* Fri. Feb. 3 @ 8:30 am ET ~ Employment Data
* Wed. Feb. 15 @ 8:30 am ET ~ Retail Sales
* Wed. Feb. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Mar. 1 @ 2:00 pm ET ~ Beige Book Report
* Tues. Mar. 14 ~ 2-day FOMC Meeting Begins
* Wed. Mar. 15 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference