Asia – CLOSED
• Shanghai (China) +0.10%
• Hang Seng (Hong Kong) -1.08%
• Nikkei (Japan)-0.61%

Europe as of 8:01am EDT

• DAX (Germany) -1.69%
• FTSE (UK) -0.78%

Today’s Economic News:

Good trade balance out of China, UK a little hot on the inflation side, Germany a little cold.  Watch the Michigan Consumer Sentiment Index today at 9:55am to move the markets.

Quote of the day:
The really frightening thing about middle age is that you know you’ll grow out of it. – Doris Day

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

2nd day in a row for the breadth to be negative, that hasn’t happened at all this year.

Market Segments Year to date:

ES SP500 Futures Comments:

1% Pull Backs: We are having a 1% pullback overnight, here is a chart of all 1% pullbacks that have been profitable so far this year:

Our Long entry target pre-market today is that 1.5% pullback area around 1332.25.  On the short side we don’t think we can rally beyond the PP and would look to short any prints around the 1347 area.

While we think the market is getting ready to correct, we think there is still one more push higher before we see a 2+% correction so we like the long side at the right price.

Breadth is waning but it will take some more days before price realizes that the foundation it is built on has been undermined.  In the meantime, the time decay for shorts holding puts will continue to squeeze out their profits.

This may be the 2-3% correction, but we think it will come from 1355 to 1360 area, we made a top at 1352.75 a little shy.  If the 1332.50 area can not be closed above today we would consider the market in correction.

US Dollar DX Futures Comments:

Here comes the dollar bounce.   We would expect a test of 79.70, if that breaks we would look for 80.40.

TLT Twenty Year Bond EFT Comments:

Bounce time for TLT.  We are not sure it will make it all the way back to 120, but we would wait for 118 to setup another short.  Our 115 broke yesterday and gave a decent ride down, but the gap up this AM is going to have us in the 117 area.  We think a morning partial gap fill could be a decent intraday play.

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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.

Asia – CLOSED
• Shanghai (China) +0.09%
• Hang Seng (Hong Kong) -0.04%
• Nikkei (Japan)-0.15%

Europe as of 7:51am EDT

• DAX (Germany) +0.77%
• FTSE (UK) +0.29%

Today’s Economic News:

Some nice news out of the UK!  Yeah.  A little hot in the Chinese news on the inflation side as the concerned antennae deployed.

 
Quote of the day:
I’m a great believer in luck, and I find the harder I work the more I have of it. – Thomas Jefferson

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

Breadth goes negative while price continues up.  We think that will become a pattern.

ES SP500 Futures Comments:

We had decent range yesterday, but we think there is some more expansion ahead.  We have penciled in the 1355 area as a short term top so that is where our short box will sit for the next couple of days.   On the long side we like that 1% area around 1335.

Upward progress is slow and we mentioned last week that these days can be traded as range days with upside bias.   There is a whole lot of pain out there in bear land, the draught of a sell-off to quench their thirst is starting to pile up some carcasses

We would like to see one more nice intraday thrust up with an exhaustive reversal and hope to be on board and riding that down about 3% to the 1308 area.

US Dollar DX Futures Comments:

We continue to like the Dollar on the long side at this 50% area.  We are looking for a run back up to 80.25.

TLT Twenty Year Bond EFT Comments:

That my friends is one ugly top.  115.50 remains the key breakdown level, if we can get that to happen we should see a nice flush down to the 111 area, or eventual target.

>>> Follow us @TopTickTraders <<<<<

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.

YEAH!!! No computer issues today.  Sorry about yesterday’s Daily Digest.. the web kept chewing them up.

Special note:  Frank Ochoa, yes you read that right, the Pivot Boss himself will be in our trading room

http://ttthedge.adobeconnect.com/traders

today at 11:00am EST to talk about his latest trading techniques and how he sees the market and some individual symbols setting up.  Frank is a great speaker and he is available to us for an hour for free, so come by and listen to what Frank has to say and ask a couple of questions and learn something new today.  Just use that link above.

(Seats are limited so use that link as early as possible).

We are in open house mode all day in fact so you can use that link at anytime and stop by and trade with us all day long.. we would love to meet you and answer any questions about our services and charts.

Our schedule today is:

9:15am Review overnight and opening setups

9:45am Review opening range and market sectors

10:30am Review opening hour

11:00 am Frank Ochoa – Theee Pivot Boss will be in house

1pm  Review afternooon

2pm First traders back post lunch

3pm The final hour and review and setups of overnight economic announcements

 

That’s how we roll.  We track all our trades, so come in and see how it is done!

Hope to see you in the room…

Team TTT

[Insert http://www.redliontrader/eco-news here]

Today’s Economic News:

Quote of the day:
The government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. – Ronald Reagan

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

While the bulls put in higher prices and a bullish breadth score, we think that neutrals are in store and then we should see some bearish scores in our near term  future.

ES SP500 Futures Comments

We like 1350 area short and 1334 area long today.  The uptrend continues and unless we get some good news that thrusts us up, we should continue this upward consolidation of the last thrust, a kind of bull flag from the NFP report.

We think the breadth has topped now and we should start to see weaker and weaker breadth score.  Price however could continue heading higher for a month or so, but the breadth top does mark an area that is usually revisited so we think shorts from here will get rewarded in the next few weeks.  We think that 1320 area will get tested in fact.  If that were to happen as a 3% correction that would mark another 1% to the upside as a potential top or around the 1355 area. 

Those are our musings for the day.

Come hear Frank at 11am.

>>> Follow us @TopTickTraders <<<<<

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.

###

[Insert http://www.redliontrader/eco-news here]

Today’s Economic News:

Not much overnight,  The German numbers were very disappointing.

Quote of the day:
The supreme irony of life is that hardly anyone gets out of it alive. – Robert Heinlein

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

Bears score one.  We think we are going into chopsticks mode from here on out.

ES SP500 Futures Comments:

An nr7 day yesterday.  We think we might have a 2nd type garbage day today with a breakout to the upside tomorrow.  That is what the model is suggesting, but each day is a unique case of players and news.

We like long today around 1328, the same area  as yesterday and short just a touch higher based on the overnight globex highs which put in new ES highs, so we are looking in the 1345 area for a possible short entry.

Anything more than a 1% pullback (1330) suggests a more serious loss of momentum and sounds the larger correction possible alarm  A move above 1342 suggest the uptrend remains in place. 

US Dollar DX Futures Comments:

We like it long from 79.  stop at 78.50

TLT Twenty Year Bond EFT Comments:

Watching 118.50 for a hold on the upside.  Need that 115.50 area to give way

>>> Follow us @TopTickTraders <<<<<

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.

Asia – CLOSED
• Shanghai (China) +0.03%
• Hang Seng (Hong Kong) -0.23%
• Nikkei (Japan)+1.10%

Europe as of 7:51am EDT

• DAX (Germany) -0.20%
• FTSE (UK) -0.15%

Today’s Economic News:

Quote of the day:
On the Internet, nobody knows you’re a dog. – Peter Steiner

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

Breadth is on the move.  A perfect 18 score.  We think we are beginning to mark the bottom of a future correction area.

ES SP500 Futures Comments:

Our models suggest there is going to be a whole lot of nothing today as the markets consolidate a solid bull performance from Friday.   We are expecting a range bound day without any progress to the upside for the next couple of days.  We have a fairly tight trading range in place today with shorts in the 1340/42 area and longs in the 1330/26 area.

The breadth has extended about as far as it can now.  We expect to begin to see some serious divergence from breadth and price as price continues to climb higher based on momentum and a thinning list of quality leadership stocks.  At some point that will exhaust and we should make a more serious correction in the 3-8% range.  In the meantime it should be slow upside progress.

US Dollar DX Futures Comments:

After a week of downside consolidation, the Dollar is making a move to breakout.  Watching 80 for a retest of the 78.75 area.

4

TLT Twenty Year Bond EFT Comments:

Wow, now that is what we are talking about as far as shorting TLT even if you have to play whack a mole.  115.50 is the next break to hit our 111 target on TLT.

>>> Follow us @TopTickTraders <<<<<

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.

Asia – CLOSED
• Shanghai (China) +0.77%
• Hang Seng (Hong Kong) +0.08%
• Nikkei (Japan)-0.51%

Europe as of 7:06am EDT

• DAX (Germany) +0.24%
• FTSE (UK) +0.45%

Today’s Economic News:

Quite a bit of red in the eco news.  All eyes are on the USA, however, with jobs news and ISM data in the morning.

Quote of the day:
I once wanted to become an atheist, but I gave up – they have no holidays. – Henny Youngman

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

Breadth continues to be strong, but the 50 DPI is just days away form giving us a bearish score.

ES SP500 Futures Comments:

We are feeling lazy today and giving the same chart as yesterday.  Well, not the exact same chart, but the same long and short areas. 

The ESH12 needs a new high today in our opinion to keep the trend up, else our trend up will turn into a sideways consolidation which we will watch for a breakout.   The new high area is 1329.75.  It doesn’t have to hold it, although that would be nice, it just needs to probe it.

We are not interested in shorting until we approach the 1339 area.  Long interest us at 1312,  NFP numbers this morning will rule supreme.  If the trade direction from the news reaction is wrong, our intraday indicators should prove handy looking for reversals.

We are meeting early, 8:15am EST in the room to watch and trade any reaction to the numbers so we hope you can join us.  http://ttthedge.adobeconnect.com/traders

US Dollar DX Futures Comments

Dollar ZZZZzzzz.  Sleeping around the 79 area.  We will watch one more day, the NFP data should loosen up trade.

TLT Twenty Year Bond EFT Comments:

We would like to see something a little more dramatic on the TLT, something that closes that 118 gap.  Watching 119.50 to the upside today.  We think there is another good day of selling left in TLT.

>>> Follow us @TopTickTraders <<<<<

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.

Asia – Trifecta
• Shanghai (China) +1.96%
• Hang Seng (Hong Kong) +2.00%
• Nikkei (Japan)+0.76%

Europe as of 7:32am EDT

• DAX (Germany) -0.06%
• FTSE (UK) -0.17%

Today’s Economic News:

Not a lot of news out of Europe today.   UK’s construction PMI was a disappointment.  The Europe PPI was weak reflecting a a lower EURO which should be good for German export business.

Quote of the day:
Statistics: The only science that enables different experts using the same figures to draw different conclusions. – Evan Esar

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

Breadth came back strong on Wednesday.  The bulls need to show the ability to still follow through.

ES SP500 Futures Comments:

So here’s the question.  Higher, sideways or lower?  That is always the question.  Based on our breadth information, we think more upside is in the works with just 1% intraday downside movements before upside expansion.  In other words, the price should not go down more than 1%  from the most recent high unless we have made new highs.  That hasn’t happened yet, so you can argue that we are in 5 day sideways topping process until we see new highs.  On Wednesday the Russell and Nasdaq both made new highs and showed upside leadership, leaving the more mature and wizened Dow and SP500 in the dust.   Those older bulls need to follow through today or tomorrow to keep the trend alive.

So far nothing is broke and if you are looking for a friend in the trend, the trend is up.

On the long side today, we would look to buy any drop into the 1312 area and on the upside looking for a short we are focusing on the 1340 area.    1330.25 will be an interesting short attempt if we get there, that is both the most recent high and the R1 area, so mark that on your charts today should we run.

It is all about the reaction to Jobs news over the next couple of days and very little to do with technicals, so sit back and see which why the news cycle spins.

US Dollar DX Futures Comments:

The dollar is trading in about a 0.80 range consolidating above 79.  We are looking for a break above 79.60 to mark the beginning of some upside movement.

TLT Twenty Year Bond EFT Comments:

Whack a mole TLT has started downwards again.  We watch now for a break above 121 for a possible trend change or a break below 118 for continuation to the downside.

>>> Follow us @TopTickTraders <<<<<

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.

Asia – CLOSED
• Shanghai (China) -1.07%
• Hang Seng (Hong Kong) -0.28%
• Nikkei (Japan)+0.08%

Europe as of 7:39am EDT

• DAX (Germany) +2.40%
• FTSE (UK) +1.48%

Today’s Economic News:

Europe having a good day as the PMI data come in strong and the Euro Fed starts to get fleshed out.  Lots of US news today with ISM data leading the pack.  Watch for volatility around 10am EST.

Quote of the day:
I tend to live in the past because most of my life is there. – Herb Caen

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

Breadth continues to move along for the bulls, watching now as the 50 DPI is getting squeezed along the top..

ES SP500 Futures Comments:

1329.75 is the previous high, 1296.25 the pullback low, almost exactly on the 2.5% line.    Yesterday was a 1.25% intraday pullback with a gap open forming today.  We continue to think that the highs of the rally are not in yet and are looking to the 1340 area for a swing short.  We like aggressively buying pullback opportunities like yesterday’s 1305 area.

So eyes on the high today.  1320 is key for the bulls.  They need to hold the 1315 area today.  We still have not had a hot day in any direction with 9:1 type numbers in volume or a/d lines.  The selling yesterday was aggressive when it was turned on, that has us a little concerned, but until proven wrong we will stick with the trend in place.

The trend in breadth has been just too strong and long in duration to have a pivotal top.  A retest should at least be in the cards.

US Dollar DX Futures Comments

Dollar is basing here, we would still like to see that touch at 78.60 to look for a long.

TLT Twenty Year Bond EFT Comments:

TLT is poking above the lower high trendline.  We think it is whack a TLT time to short.  A move above 122 would have us wrong.

>>> Follow us @TopTickTraders <<<<<

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.

Asia – Trifecta
• Shanghai (China) +0.33%
• Hang Seng (Hong Kong) +1.14%
• Nikkei (Japan)+0.11%

Europe as of 7:29am EDT

• DAX (Germany) +1.00%
• FTSE (UK) +0.70%

Today’s Economic News:

Quote of the day:
There’s an old saying about those who forget history. I don’t remember it, but it’s good. – Stephen Colbert

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

A red bar you say?  9 green days and then red.  Expect a return to green in the next couple of days as the rally plays out.

ES SP500 Futures Comments

Our 3 day pullback is over and if our theory is correct we should be testing the highs in the next couple of days.  We think the climb will be slow from here were you can actually trades days as range days with the expectations that upside expansion to the range is probable.

Should we quickly rally to the highs today we would look for signs of exhaustion and take advantage of some weak longs giving way.  On the downside we will hungrily buy the Pivot Point at 1306.50.

There is a lot of news to work through this week which will either add or subtract from the upside momentum.  News of course trumps all, or at least the reaction to news.

There may be a trigger moment that thrusts us higher, but absent of that we expect a slow grind higher with pullbacks of less than 1% for the next few days.

US Dollar DX Futures Comments:

We continue to chase the dollar down looking for an entry long.  We thought the 79.60 might make a nice bounce area and put in a right shoulder, that didn’t happen.  Now we are watching the 78.60 area and looking for a RSI oversold signal to flag a buying opp.

TLT Twenty Year Bond EFT Comments:

Time to short the TLT again as we play whack-a-mole.  The prairie dog once again has stuck its head out of the hole.  Today should be a bad day for TLT.

>>> Follow us @TopTickTraders <<<<<

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.

Asia – trifecta
• Shanghai (China) -1.47%
• Hang Seng (Hong Kong) -1.66%
• Nikkei (Japan)-0.54%

Europe as of 7:43am EDT

• DAX (Germany) -0.87%
• FTSE (UK) -0.94%

[Insert http://www.redliontrader/eco-news here]

Today’s Economic News:

Quote of the day:
To err is human–and to blame it on a computer is even more so. – Robert Orben

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

Breadth charts continue to add bullish days in.  We think that will end today and give us just a quick glimpse of some bearish scores.

ES SP500 Futures Comments

Short and sweet today.  We think the selling is just about over or that at least we have a good shot at being rewarded for buying this 2% pullback area around 1300 down to 1298,25.

On the off chance we hit a good rally today to the 1313 area we will be looking for an intraday short.  We are on day 3 of what we think is a buyable 3 day pullback with a retest of the highs or a possible break to higher highs.

It’s accumulate long time again in our opinion.  The rally that brought us here was too broad and long to lose its legs yet.

US Dollar DX Futures Comments:

Watching 78.67 for a chance to bounce long.

TLT Twenty Year Bond EFT Comments:

118.50 is our key area to look for a short entry into TLT.

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