Around the Globe
- Asia – CLOSED
- Shanghai (China) -0.21%
- Hang Seng (Hong Kong) -1.92%
- Nikkei (Japan)-0.28%
Europe as of 6:43am EDT
- DAX (Germany) -1.21%
- FTSE (UK) -1.62%
Today’s Economic News:
[Insert Economic News Image Here]
Quote of the day:
Let not the sands of time get in your lunch. – National Lampoon
Current Allocations from our room:
Current Breadth Readings:
Day 6 of the Zweig Breadth Thrust and we are just half way there. It will have to be a spectacular day to keep this going up. So far the soft projection for the open has us wondering. We did get our Trenders to turn neutral so that is battle progress for the bulls.
That is the second time in May since slipping bearish.
ES SP500 Futures Comments:
That 1330 battle area is tough for both bears and bulls alike. The bulls did break it twice, only to give it up twice and this AM premarket the bulls find themselves yet again on the wrong side of the line. The 1315.50 area interests us for a long and we think the next upside extension will take us to the 1339 area.
We can only wait it out. The bulls desperately need a fantastic follow through day that leaves everyone breathless. That hasn’t happened yet. Every day is a battle.
US Dollar DX Futures Comments:
The US dollar. She is so strong this one is. Just sitting back waiting for some resistance to materialize.
TLT Twenty Year Bond EFT Comments:
We loved the action in TLT and the selling into the close yesterday. We need that 123 to give and then a nice drop to the 120 area. This trade as we said is very crowded and we can see 119.50 as a support 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.