Around the Globe

Today's Economic News:

Quote of the Day:
The bananas were like that when I got here!
–Humpty Dumpty
 

Current Breadth Readings: (click here to see all our breadth charts)

Since we have made a big deal about waiting for the Zweig, here we are showing our Zweig chart again and scratching our heads saying, “What will it take?”.  We now have had four attempts at breaking into oversold.  It will get there someday but this is the bounce area.  The bears need to pour it on.

ES SP500 Futures Comments:

Short: 1382
Long: 1354

The Markets remain weak.  The overnight ZEW numbers show much cause for concern out of Europe, as if we didn't know that already.  Dollar rally, market falls.  We want that Zweig oversold so we can begin to turn it around, but it is sitting for the fourth time right where it took big bounces three times before.

For today, we think 1382 will cap the market as we continue to put in a bear flag looking decline.  For a buying opportunity, we are keeping yesterday's target in place at 1354.  This is a wide range.  It is OPEX.  We have a sentiment survey out at 10am.

US Dollar DX Futures Comments:

Still waiting for that dollar to hit target here.  We could see a little handle form now if the market wants to bounce some.

TLT Twenty Year Bond ETF Comments:

Our break and then small follow-through on the TLT has happened.  We are still looking for an exhausted move to the 128 region.  

>>> Follow us @redliontrader<<<<<

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.