March 11, 2010, 7:00 am EST — 
The Standard & Poor’s 500 index futures down 3.20 to 1142.20, as caution is apparent before the Labor Department releasing weekly jobless claims data at 1330 GMT. Economists in a Dartline survey forecast a total of 460,000 new filings compared with 469,000 in the prior week and the Commerce Department releases January international trade figures, which project a $41.0 billion deficit compared with a $40.18 billion deficit in December. … China’s inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep the recovery in the world’s third-largest economy on track. Consumer prices rose 2.7 percent in February over a year earlier, up from January’s 1.5 percent increase, the National Bureau of Statistics reported Thursday. Driven by a 6 percent jump in food costs, it exceeded most analysts’ forecasts and came close to the government’s target of 3 percent inflation for 2010. A spike in inflation over the past four months is forcing Beijing to divide its focus between boosting growth and preventing overheating. Communist leaders have imposed curbs on bank lending but avoided raising interest rates, which could slow growth and affect China’s trading partners by denting demand for imports. …
— Maintain resistance for the S&P 500 index at 1150.41 and support at 1102.80. As stated, “Critical next two days as the index will determine near term direction whether resistance holds or not. Meanwhile, trade the market cautiously with a neutral bias.” Light volume and low cash on hand my money managers suggest that current push up was a short covering rally — Tracking volume important factor to determine direction.