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Europe stand $study

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    Asia – CLOSED
  • Shanghai (China) -0.71%
  • Hang Seng (Hong Kong) +0.85%
  • Nikkei (Japan)+1.24%

Europe as of 6:38am EDT

  • DAX (Germany) +0.57%
  • FTSE (UK) +0.67

Today's Economic News:

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Quote of the day:
The government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. – Ronald Reagan

Current Allocations from our room:

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Current Breadth Readings:

 

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Our breadth chart today is one of our trenders and it is signaling a neutral single green day.  Should me McSCI hold green again today we will officially be bullish, the first time since about May.

 

ES SP500 Futures Comments:

 

It was a very very strong trend day yesterday, ending on the highs.  Today we will watch the A/D lines looking for a 2:1 or better on the SP500 A/D line.  That would indicate a nice buy signal on the close for some higher prices tomorrow.

For today we would expect to see an NR7 day, that would require us to be less than 10 points total range on the ESM12.

 

It is rollover day today.  I would not roll until tomorrow at the earliest.  If you think you might hold over the weekend then start trading the U now, else, if you trade flat into the close today the volume remains on the M.  It will be all evened out by noon on tomorrow.

 

With our expectations of an NR7 day our buy interest lay about 10 points down at 1304 and our short interest a little bit higher at 1331.

 

We are looking forward to watching the follow through ability of the bulls.

 

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US Dollar DX Futures Comments:

The US Dollar is finding its first real upside resistance since April.  83.50 is the upside limit and we would expect some test down to that 81.10 area.

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TLT Twenty Year Bond EFT Comments:

Short complete.   We would want to watch it for a few days here to see how it reacts, thinking we will get another test to the 130 area before finally giving it up.

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