Abbreviated post today.. interesting to note that our up side target has gone to $ES_F 1424.. Watch the dollar $Study

Fortunes Rocks, ME Weather – Winds out of the northeast at about 20mph, gusts to 30.  Expected strengthening today to about twice that.  High tides at noon and midnight expected to breech most sea walls. We are going to get off easy.. best wishes for our southern neighbors, stay safe.

 

Around the Globe

    Asia – CLOSED

  • Shanghai (China) -0.35%
  • Hang Seng (Hong Kong) -0.16%
  • Nikkei (Japan)-0.04%

Europe as of 7:50am EDT

  • DAX (Germany) -0.70%
  • FTSE (UK) -0.67%

 

Today’s Economic News:

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Personal Income numbers out at 10am.  The NYSE is closed today and futures will close at 9:15am ET (I think).

 

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

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The Zweig is our chart of the day again today.  We want to watch that for a break and then a setup in the oversold area for a bounce and bull market resumption over the next few weeks.

 

ES SP500 Futures Comments:

Short: 1424

Long: 1389

 

We are keeping the long area the same today.  The markets will be closing early.  Note that the 1424 area is a ten point move higher.  Friday’s action has us pushing up an upside target for the next couple of days.

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US Dollar DX Futures Comments:

The US dollar is stuck trying to break and run up.  That would be another sign of lower prices to come.

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TLT Twenty Year Bond ETF Comments:

TLT making the wind up.  A break will let us know the next directional move.

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