Around the Globe
- Asia – CLOSED
- Shanghai (China) +0.13%
- Hang Seng (Hong Kong) +0.37%
- Nikkei (Japan)+0.88%
Europe as of 6:59am EDT
- DAX (Germany) +0.32%
- FTSE (UK) -0.12%
Today’s Economic News:
The UK has some negative growth – numbers were negative but better than expected while Germany continues to miss on factory orders. No market moving news scheduled for today.
Quote of the day:
Study without desire spoils the memory, and it retains nothing that it takes in. – Leonardo da Vinci
Current Breadth Readings: (click here to see all our breadth charts)
The Zweig is our indicator for today. Both breadth trenders have moved into the bull camp now, this Zweig needs to get up and over that 57 area.
ES SP500 Futures Comments:
Short: 1398
Long: 1370
We scooted up the short area just a little bit today. There is some momentum leaving the market, if we can get above 1400 ES, we should start to run higher. The next extension level from here is 1406.
We would like to see a pull back to 1370 and look for buyers in there. We do think a floor level sits now at 1335.
US Dollar DX Futures Comments:
The dollar is testing the lower bounds of the widening wedge. That wedge contains the uncertainty of the intervention, a kind of meter. The lower level means that there is faith that Europe is following through, the upper side is Euro failure. It still could go either way.
TLT Twenty Year Bond ETF Comments:
Bonds found a bottom, maybe temporary, here at the 127.50 area. We have an inverse HNS target at the 125 area and a worst case scenario upside target of 135.50.
>>> Follow us @redliontrader<<<<<
Happy Anniversary Laura! 30 More?
DISCLAIMER: The information and data in the following report(s) were obtained from sources considered reliable. Opinions, market data, and recommendations are subject to change at any time. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any commodities or securities. TTTHedge.com, its officers, directors and its contributors may in the normal course of business, have position(s), which may or may not agree with the opinions expressed in this report. TTTHedge.com, its officers, and directors are not agents, representatives, or affiliates of the CME Group or any trading entity. Trading Futures, Options, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in these report(s) will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
