Around the Globe
- Asia – CLOSED
- Shanghai (China) -0.35%
- Hang Seng (Hong Kong) +1.70%
- Nikkei (Japan)-0.43%
Europe as of 7:00am EDT
- DAX (Germany) +0.15%
- FTSE (UK) +0.14%
Today’s Economic News:
Quote of the day:
If you can count your money, you don’t have a billion dollars. – J. Paul Getty
Current Allocations from our room:
Performance Month to Date from our room:
Current Breadth Readings:
The breadth chart to watch today is the CVI which is sitting at a resistance point. We expect some fight now as we progress higher.
ES SP500 Futures Comments:
The markets are struggling here at 1403, we expect to see some fight as the markets struggle higher. We are entering May which will increase the fear factor for the holders that want to sell and go away. It will take earnings and outlooks to keep the bullish market action in trend.
We like buying long a retest of the 1391 area
We will not look for any decent shorts until we hit at 1415 area.
US Dollar DX Futures Comments:
The dollar has finally broken the bottom of that lower trendline forming a decent looking Head and Shoulders pattern which measures out to 76.50 area. If this market continues to rally we would expect to see it pull back to somewhere near there and base for a possible 2x bottom run back up to 78.50.
TLT Twenty Year Bond EFT Comments:
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