Around the Globe
Today’s Economic News:
It is Columbus Day in the USA so light news here. In Europe, a nice German Trade Balance and a better than expected German Industrial Production Number are working against the weaker Asian numbers.
Quote of the day:
There it was, hidden in alphabetical order. – Rita Holt
Current Breadth Readings: (click here to see all our breadth charts)
We will put our Zweig up today for a look at a little weakness. As price fell just short of the highs, the breadth remains dragging, that is a divergence. There is still much support here, so the death of the bull is not being called yet. We will watch our trenders for that.
ES SP500 Futures Comments:
It is Columbus day in the USA. I am more out than in today, so I am not moving our zones for Friday that worked so well. As I write, that puts the market in or near our expected low for the day. Should that low fail, watch the 1440 area. There should be light trading today as half the country has today off. It is a weird holiday.
US Dollar DX Futures Comments:
Still on hold for the dollar as it remains in place between that 80/79 area. We don’t think that is going to change today.
TLT Twenty Year Bond ETF Comments:
We are watching the 118.50 area as a retest here. The 120 area will be the test.
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