Slew of China data tomorrow: 

  • Exports, imports, and Ind production on deck tomorrow somehow we expect the numbers to be irrelevant but overall trading trends we think have seen the bottom of this cycle.  We expect plenty of choppy stats and not extreme liftoff but who is expecting anything from China?  So when the data does indeed turn the skeptics will have missed the trade.  We are not advocating an all-out buy in China but the FXI traded shares outside the banks can run.  Pick your names below the index:  We like $CHL, $BIDU, $BABA, $TCEHY

Charts we care about:

Earnings season is upon us and everyone know what the expectations are for US corporate earnings growth: NOTHING.  So why can’t the guidance be something that takes markets higher even if the 1Q was challenging.  Expect corporate CEO’s and CFO’s to talk about improving macro tailwinds (USD) despite being ever cautious on core business.

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