Flat today in a tight range. If we do follow through to the upside, reset the bull clock back to zero and ride higher. $study

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Around the Globe

    Asia – CLOSED
  • Shanghai (China) +0.03%
  • Hang Seng (Hong Kong) -0.23%
  • Nikkei (Japan)+1.10%

Europe as of 7:51am EDT

Today's Economic News:

  • DAX (Germany) -0.20%
  • FTSE (UK) -0.15%


Quote of the day:
On the Internet, nobody knows you're a dog. – Peter Steiner

Current Allocations from our room:

Performance Month to Date from our room:

Current Breadth Readings:

ES SP500 Futures Comments:

TLT Twenty Year Bond EFT Comments:

 

 

Breadth is on the move.  A perfect 18 score.  We think we are beginning to mark the bottom of a future correction area.

 

 

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Our models suggest there is going to be a whole lot of nothing today as the markets consolidate a solid bull performance from Friday.   We are expecting a range bound day without any progress to the upside for the next couple of days.  We have a fairly tight trading range in place today with shorts in the 1340/42 area and longs in the 1330/26 area.

 

The breadth has extended about as far as it can now.  We expect to begin to see some serious divergence from breadth and price as price continues to climb higher based on momentum and a thinning list of quality leadership stocks.  At some point that will exhaust and we should make a more serious correction in the 3-8% range.  In the meantime it should be slow upside progress.

 

US Dollar DX Futures Comments:

After a week of downside consolidation, the Dollar is making a move to breakout.  Watching 80 for a retest of the 78.75 area.

 

4

Wow, now that is what we are talking about as far as shorting TLT even if you have to play whack a mole.  115.50 is the next break to hit our 111 target on TLT.

>>> Follow us @TopTickTraders <<<<<

 

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