Around the Globe
- Asia – CLOSED
- Shanghai (China) Closed
- Hang Seng (Hong Kong) Closed
- Nikkei (Japan)+1.12%
Europe as of 6:52am EDT
- DAX (Germany) -0.62%
- FTSE (UK) -0.62%
Today’s Economic News:
The USA has quite a bit of news this morning all post open. The Europe news was mixed, strength from Germany, weakness for the UK.
Quote of the day:
Water, taken in moderation, cannot hurt anybody. – Mark Twain
Current Allocations from our room:
Performance Month to Date from our room:
Current Breadth Readings:
An amazing string for the bulls breadth wise. There are signs of some choppy scores to come. We should see some piano keying (red,green, red,green) signals over the next few days unless the bulls can find that accelerator again.
ES SP500 Futures Comments:
Yeah! The markets are giving us some movement now. About t 10 point SPX swings as she tries to work her way out of a battle between 1310 and 1300 areas. We still think there are a few more days of slightly sideward action. Today is Fed day so there will be some volatility. In general we think the range to the upside is capped at 1320 for now and downside we are interesting in re-joining a march high from around 1290 area. The 50% fib level around 1303 has been holding so we will watch there for early buyers giving us some updraft and then watch the 1308-1312 area for downside movement.
That continues to be our working scenario.
US Dollar DX Futures Comments:
The dollar is getting a little bounce from what we think may be a developing neckline and we are looking for a bounce here to the 81.50 area.
4
TLT Twenty Year Bond EFT Comments:
What can only be described as an ugly chart, the TLT continues to break. There are bond auctions all this week and so far rates continue to rise putting pressure on the downside of TLT.
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