Market Overview

Less Then 2 Away From a Historic Zweig Breadth Thrust.. If We Rally Good Today it Could Happen.. Stay Tuned..

Around the Globe

Around the Globe

 

    Asia – CLOSED
  • Shanghai (China) -0.49%
  • Hang Seng (Hong Kong) -0.24%
  • Nikkei (Japan)+0.24%
  •  
  • Europe as of 6:24am EDT
  • DAX (Germany) -0.23%
  • FTSE (UK) -0.41%
  •  

Today's Economic News:

image

Not much on the Calendar today:

Quote of the Day:
Discovery consists of seeing what everybody has seen and thinking what nobody has thought.
–Albert Szent–Gyorgyi de Nagyraolt
 

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

image

Less than two points away from making a historic Zweig Thrust.. A solid rally today that ends on the highs could just seal the deal.  That will be one of the fastest thrusts in history, more on that.  This is for real folks, don't underestimate what breadth and the market is telling us, even if it doesn't seem logical in your model of how the world should work.

 

ES SP500 Futures Comments:

Short: 1410
Long: 1392

We think there will be some back and fill, but today could just do a little more squeezing for those bears that thought taking last week off was a good idea.  The market is cruel that way.

We think the pain stops at 1410 and then a series of corrections and consolidations can begin from there to work off some of the overbought that has crept in the last 5 days.

This is going to be a very interesting today as the market players are forced to make their moves.  In or Out?  I'll let you know tomorrow.

 

image

 

US Dollar DX Futures Comments:

We want to watch this dollar down to 79.75 area, we think there might be some more bullish market hidden in a little more dollar weakness.

image

TLT Twenty Year Bond ETF Comments:

The TLT has hit our 124 area effectively, so no we would expect a reversal bounce up to 125.50/126 area and then a move back down to the 116 area.

image

>>> 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.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Markets Trading Ideas

 

Related Articles

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters