Around the Globe
- Asia – CLOSED
- Shanghai (China) +0.70%
- Hang Seng (Hong Kong) +0.34%
- Nikkei (Japan)+0.01%
Europe as of 6:57am EDT
- DAX (Germany) +1.26%
- FTSE (UK) +0.56%
Today’s Economic News:
It is all about that ECB press conference at 8:30am.
Quote of the day:
The only time to buy these is on a day with no ‘y’ in it. – Warren Buffett
Current Breadth Readings: (click here to see all our breadth charts)
The upper trendline is the area the bulls need to break to get this market running to new yearly highs.
ES SP500 Futures Comments:
Short: 1420
Long: 1402
It is all about Europe today and the ECB - 8:30am ET. We still think 1420 is going to cause problems. We moved the trailing buy zone up this morning to 1402. With a 5+ head-start gap if the market can not do it today, I would start waiting for the short bus.
So watch today’s action, it could be one of those “short the news” type days… If the bulls can’t mount an assault today, we should see that 2% line finally break. Could be wild and we have jobs on Friday. It doesn’t get much better than this.
US Dollar DX Futures Comments:
Today should be the day. Europe should go all crazy and the Euro find strength, the dollar should hit that 80.85, and the equity market should put in a 10+ handle on the SPX day. Let’s see.
TLT Twenty Year Bond ETF Comments:
This is the time and place. The trifecta SPX – TLT – DX should be on your screens today and being watched.
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