Around the Globe
- Asia – CLOSED
- Shanghai (China) -0.95%
- Hang Seng (Hong Kong) +0.52%
- Nikkei (Japan)+0.01%
Europe as of 7:55am EDT
- DAX (Germany) +0.53%
- FTSE (UK) -0.06%
Today’s Economic News:
There is a rich agenda of economic news today. Mostly mixed, but the negative misses were quite minor in nature. The most damaging one being the German price import inflation number.
In the USA there is some premarket news around the preliminary GDP for Q4 2011. Those are always hard to read as they are so historical. At 9:42 EST the leaked version of the Chicago PMI will hit the markets and that should establish the trend for the day.
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:
Performance Month to Date from our room:
Current Breadth Readings:
The breadth continues to show negative while price holds up and even climbs. We continue to look for one last push.
Market Sectors Year to Date:
ES SP500 Futures Comments:
We can feel the upside tension in the markets and are looking for a little stimulus from the news cycle to get that breakout to the upside that we think can be quite dramatic and would be the exclamation point on the end of this run on sentence!
Our short zone sits way up at 1390 today as we think everything above 1376 is inherently unstable to the upside. On the downside we continue to respect the 1% pullback area which now sits around 1360.
We have a wide ranging upside as we look for a buyers capitulation somewhere between 1390 and 1407.
US Dollar DX Futures Comments:
TLT Twenty Year Bond EFT Comments:
The TLT thus far is adhering to the upper trend line and made a nice pullback yesterday afternoon. We watch today for follow through to the downside with a target in the 115 than 113 area.
>>> Follow us @TopTickTraders <<<<<
DISCLAIMER: The information and data in the following report(s) were obtained from sources considered reliable. Opinions, market data, and recommendations are subject to change at any time. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any commodities or securities. TTTHedge.com, its officers, directors and its contributors may in the normal course of business, have position(s), which may or may not agree with the opinions expressed in this report. TTTHedge.com, its officers, and directors are not agents, representatives, or affiliates of the CME Group or any trading entity. Trading Futures, Options, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in these report(s) will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.