more bullish options action in Jan 13 / support building
a lot more people are bullish than pessimistic that the data read in January will be very positive. Open interest for Jan 13 call options is much higher than the puts. Take a look.
it also looks like we are building support in the 5.2 to 5.4 range...wouldn't surprise me if we went flat the next 3 weeks until we get some data, but the technicals are pointing to another leg up over the next 3 weeks. We needed a few down days to get the stock from being strongly overbought. Short term, the 20 day MA is close to crossing the 50 day MA, which would be a very good short term sign of the next leg up. Keep an eye on the charts and people's habits of buying on the dips. Most institutions are holding right now.