Good morning. Premarket futures are pointing to a lower open today following a batch of relatively poor retail sales, weakness in commodities, better than expected jobless claims, and more negative news from the financials (see COF & FRE) even though foreign governments have stepped in. Overseas markets are mostly lower after both the Bank of England and the European Central Bank decided to leave interest rates unchanged contrary to hope that interest rates would be cut.

Premarket gainers: ILMN, GYMB, GES, SCRX, LOGI, LNOP, SWKS, NCR, UAUA, YHOO, MNST, WTSLA, EBHI, ARO, HOKU, BOOM, WSCI, and GME.

Premarket losers: EFII, AFFX, DRYS, DSTI, SOLF, PGNX, COF, TMA, TEVA, CPSL, PWRD, LDK, GLNG, ASML, MTW, ESLR, ESRX, JASO, CROX, SNP, INFY, FWLT, SEED, and RIMM.

At 10:AM we have the wholesale trade report, but all eyes and ears will be on Bernanke at 1PM. There's hope that the Uncle Ben may hint at a friendlier Fed who is willing to finally give in to the market's demands for substantially lower rates. No doubt, some of the strength we saw late yesterday was generated by that sentiment. If the market doesn't get what they want this afternoon, be prepared. 1400 in the S&P is the new line in the sand and stops will be set there accordingly.

Have a good day!