Watching 1382 for a hold on $ES_F today $study

Around the Globe

Asia – CLOSED
• Shanghai (China) +1.96%
• Hang Seng (Hong Kong) +1.06%
• Nikkei (Japan)+2.14%

Europe as of 7:51am EDT

• DAX (Germany) -0.99%
• FTSE (UK) -0.37%

Asia had its party but Europe has a little hangover evidently.

Today's Economic News:

Fairly good new out the UK on a light news day.

Quote of the day:
Any American who is prepared to run for president should automatically, by definition, be disqualified from ever doing so. – Gore Vidal

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:

We have just started day 5 on the ZBT.  Go NYSE!

After a day like yesterday we would expect to see an NR7 hold, which would be something less than a 10 point range.   We would look for a long from 1375 to 1371 and a short in the 1395 area today.   We want 1382 to hold today and we are already below that pre-market.  1392 is key on the upside than 1396.  Breaking those and the bulls are running and the shorts are stripping.

US Dollar DX Futures Comments:

The Dollar has itself into a wedge and tightening up.  That 79 needs to hold and that 81 needs to break to get a bull run going in the dollar.  For a short we would like 80.50 hold and 78.50 break.

TLT is suppose to give up the ghost, and it is going to have to if this market is going to return to bull mode.  That 116 area is a tough nut to crack, once broken though we should see that 114.50 fairly quickly.  We still like it short here.

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