Looking for decent jobs number to keep the rally going $study

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Asia – CLOSED
• Shanghai (China) -1.17%
• Hang Seng (Hong Kong) +0.50%
• Nikkei (Japan)-0.27%

Europe as of 6:30am EDT

• DAX (Germany) +0.55%
• FTSE (UK) +0.26%

Today's Economic News:

Quote of the day:
A lie can travel halfway around the world while the truth is putting on its shoes. – Mark Twain

Current Breadth Readings:

ES SP500 Futures Comments:

US Dollar DX Futures Comments:

TLT Twenty Year Bond EFT Comments:

Our NH/HL index is right at that max.  That doesn't mean there is not more upside here, but we do expect to see the market relax just a little.

Short: 1372.50

Long: 1336

We do expect a little pullback in here around the jobs number.  We scooted up our 1369 from Tuesday to the 1372.70 area, but we like it here.  There was 7 given last night.  We would take 7 short any time this bull market gave it to us.

The setup is into tomorrow's Jobs number, which, if you are short, might just trap you big time.  We would be waiters in here, more than buyers and sellers, just scalping around the fringes until the numbers come out.  Once the reaction is established, begin the longer trades again.

The bear flag is still under way in the dollar daily chart.   At this point it will be the Jobs number on Friday that will set the new direction.

TLT remains in its tight, tight trading range.   We want that 124.50 to break, which, if it does, should get us the 123 very, very quickly.

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