Last day for TTT Buy signal it need $TF_F 775 area to get a check plus $study

TTT Buy Signal Day 5

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This is the last day for the TTT Buy Signal.  It has just missed so far the 3% on the TF (Russell 2000 Futures).  It peaked around 2.3%.  Today the target is 775 on the TF, which for the TF is certainly achievable so we watch and wait for 4:15pm ET today.   Our drawdown on the TF was about 1.3%.

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Around the Globe

    Asia – CLOSED

  • Shanghai (China) -0.53%
  • Hang Seng (Hong Kong) -0.64%
  • Nikkei (Japan)+0.08%

Europe as of 6:01am EDT

  • DAX (Germany) +0.58%
  • FTSE (UK) +1.18%

Today’s Economic News:

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Quote of the day:
Freedom of the press is limited to those who own one. – A. J. Liebling

 

Current Allocations from our room:

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Current Breadth Readings:

 

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We are starting day 3 of the ZBT countdown with our goal to reach 61.5 from here. Yesterday came in surprisingly strong.  I think there is not much expectation on today with the weaker news out of Europe, which is enjoying a bouncey bounce today.

 

 

ES SP500 Futures Comments:

 

Europe took a little bounce today, but I wouldn’t expect it to turn into too much, at least not organically, as the slew of news was disappointing from the Eurozone.  It is one thing to fix problems when you are growing and moving forward, it is much difficult to solve them when you are shrinking.  1326.50 is key for the bulls to establish their higher high.  1335 area is the goal for a healthy move to the upside.

 

Above 1335 at 1340 is our targeted short area.  We like 1297 for a hold today and have that as our long area.

 

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US Dollar DX Futures Comments:

We warned away from the Dollar with that break of the two day pullback.  Shorts step aside.   The dollar has establish a strong upside trend, we need to wait for it to establish a topping pattern. image

TLT Twenty Year Bond EFT Comments:

This closing price chart does not tell the whole story with TLT poking 0.05, a nickel, higher and then falling off sharply in the afternoon equities rally.   We need to watch for trend reversal with a close below that recent low. image

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