We are a little whiny today as we shift to neutral on the markets $study

Around the Globe

Asia – CLOSED

• Shanghai (China) -0.23%
• Hang Seng (Hong Kong) +1.03%
• Nikkei (Japan)+0.77%

Europe as of 6:01am EDT

• DAX (Germany) +0.11%
• FTSE (UK) +0.33%

Today's Economic News:

Quote of the day:
You know you're getting old when you stoop to tie your shoelaces and wonder what else you could do while you're down there. – George Burns

Current Breadth Readings:

Our breadth chart du jour is the cumulative 4W NH/NL that has turned bearish on us.  The other chart, the McClellan Summary Index, remains in the bull camp for now.  A good test of the the two indexes.  The weakness of the markets and their inability to really rally from their new found hole have us a little on the bears side waiting for the market to signal a willingness to climb from the hole via divergences.

ES SP500 Futures Comments:

Short Area: 1330

Long Area:  1298

We are now waiting for some bottom forming signal or a real thrust to get us going to the upside.  Price seems all to comfortable right in this area which makes one wonder if it wouldn't find more comfort lower.  Breadth is officially neutral with a split decision from the trenders.  We wonder if the Euro news and the pending supreme court decision have the market sandwiched with two fairly low range days so far this week and an overnight session that has us just 6 points top to bottom.

Needless to say, we are uninspired and that makes us want to scalp ranges via our RSIs and Stochastics until another trend sets in.

US Dollar DX Futures Comments:

Continuing the whining about the markets not moving, you can see that same 3 day setup on the DX dollar chart here.  After the Thursday thrust from last week, the Dollar has just slid sideways.  We are looking for a range breakout above 82.50 or below 82.20.

TLT Twenty Year Bond EFT Comments:

Whining continues with TLT, now our 2nd week of calling for a breakdown to 123.  It is also a breakout candidate now with the ability to break either way as all the momentum has turned to mush.

>>> 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.