Around the Globe
- Asia – CLOSED
- Shanghai (China) -0.35%
- Hang Seng (Hong Kong) +1.70%
- Nikkei (Japan)-1.78%
Europe as of 11:45am EDT
- DAX (Germany) -0.59%
- FTSE (UK) +0.37%
Today’s Economic News:
China’s PMI number was a miss on expectations, but it did represent a counter trend to global PMI’s, like the UK’s, that continue to weaken. We need to stay above 50 on those PMIs!
Quote of the day:
It has yet to be proven that intelligence has any survival value. – Arthur C. Clarke
Current Allocations from our room:
Performance Month to Date from our room:
Current Breadth Readings:
Our longer term McSI index remains in bullish mode. We would consider any dips buying opportunities.
ES SP500 Futures Comments:
Buy the dip. Is this the end of the dip? Dunno, but breadth has certainly corrected enough for the bulls to take a run up to the 1408 area. That is where our sell zone is.
Our buy zone from yesterday was spot on. Today we pull it down a little as a failure at the 1391 area should produce selling down to 1383/81 area. That area we think would be even more positive for a bounce and return of the bull.
US Dollar DX Futures Comments:
TLT Twenty Year Bond EFT Comments:
TLT continues to show “no faith” in the rally. It is not paying any homage here as it continues to signal weakening economic conditions and a “hold on to cash” mentality. We need to see that 116 area break to signal that the sideliners are joining. in.
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