Breadth says "buy", we say $ES_F 1382 is the next up side target $study

Around the Globe

Asia – CLOSED
• Shanghai (China) -2.37%
• Hang Seng (Hong Kong) -1.88%
• Nikkei (Japan)-1.37%

Europe as of 6:55am EDT

• DAX (Germany) +0.01%
• FTSE (UK) -0.26%

Today's Economic News:

[

The bond interest rate on the 6 month Bubil is negative???!!!  Is that a typo?

Quote of the day:
In the beginning, the Universe was created. This has made a lot of people very angry and has been widely regarded as a bad move. – Douglas Adams

Current Breadth Readings:

ES SP500 Futures Comments:

US Dollar DX Futures Comments

TLT Twenty Year Bond EFT Comments:

Key chart again today for the close is the NH/NL chart that wants to remain above that 60 area.  We think the market has not finished this thrust and run and is on the verge of establishing a possible longer trend to the upside.

Long: 1336

Short: 1382

We actually like it long here.  We might have a morose Monday and hit that 1336, but it is the upside that interests us much more than the downside from this point.   Our new side price extension is the 1382 area where, if all is well, we should begin scooting up to new highs.

Breadth looks good and if we can get TLT to play along, we might have something very special in the works.  It will count on everyone doing their part including the Greeks, Europe, and China, and  most importantly, earnings.  Maybe that is more than we can hope for but to us, that is how the market looks to be setting up.

Dollar is at a double top here looking for a reason to run or fall.  The bull in me wants to see some weakness here and fall back into the 81 area.  So we will wait to see.   If we do breakout to the upside, we are looking for a push into the 84.65 area.

124.50 or 127.. please get us out of purgatory!  TLT remains strangled here.

We are setting up a nice squeeze on the Bollinger bands and we know the range (2.5) so 129.50 or 121.50 are the breakout targets both up and down. That is rough math and you can refine your own, the point being, TLT is squeezed here and we will get a break and the move should be swift when it happens and the markets should move opposite the TLT move.

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