Another day, another record high for US stocks as the DOW rallied 205 points with blue chips Chevron up 3%, Boeing up 2.4% and Caterpillar up 2%. As mentioned yesterday, Trumps strong arm on NAFTA is affecting the US auto industry. Fiat Chrysler announced they would be moving their Ram truck production from Mexico to Detroit where they’ll invest $1B in their assembly plant and add 2500 jobs. In retail, Walmart announced their closing or converting 63 Sam’s Clubs to better align their real estate for their evolving strategy to compete with Amazon. Earning season kicks off with big banks JPM, WFC, BLK, and PNC announcing. The economic calendar includes CPI and Retail Sales @ 8:30am EST. Volatility remains a tough call as the ES hits blue sky. Globex volume rose last night, selling into the rally. Size bias is once again short leading into the 8:30am numbers but price has moved up far enough that it may be difficult to close the gap back to yesterday’s 2768.50 settlement.