What ever happened to stick with a plan? Europe dragging us down to $es_f 1330 today?

Around the Globe

    Asia – CLOSED

  • Shanghai (China) -1.65%
  • Hang Seng (Hong Kong) -0.75%
  • Nikkei (Japan)-1.49%

Europe as of 7:33am EDT

  • DAX (Germany) -0.37%
  • FTSE (UK) -1.08%

Today’s Economic News:


Retails sale from the UK not good.  The leading index from Japan was weaker than expected, still better than last so not too concerned about that.  Nice German trade balance number.  It is holding.  Flight to bonds as investors are willing to take lower interest rates to avoid the risk of the markets. Same in the UK.  10am EST numbers important today, watch the clock and the charts.

Quote of the day:
Never keep up with the Joneses. Drag them down to your level. – Quentin Crisp


Current Allocations from our room:


Performance Month to Date from our room:


Current Breadth Readings:



Breadth finding a home in the bear’s den.  Our shorter term breadth indicators don’t look any better.  The overnight selling from Europe’s markets and then the USA rallies are maintaining a equalization between the markets, ie, Europe is dropping faster than the USA,  but breadth remains weak.


ES SP500 Futures Comments:


Greece? Are you kidding me? Didn’t we all agree on a plan?  What happened to integrity, stick you nose to the grindstone and work it out? Well, those are not our issues, our issue is trying to outsmart the markets and there are a lot of smart players out there.   Our buy and sell zones have dramatically expanded as we think something dramatic is going to happen.


Our next buyzone is down at 1330 area and our sell zone is up at 1384. That is a 54 point spread!


Should we break the 1345 area we expect a spill and our 4 point range is a very small net.  We could easily pierce that if selling takes off, even hitting the 1300 area.  But we are looking for reversals and that is our next target down.


There will be a reaction to the selling at some point, a reaction to the upside and it should be quite dramatic, but for now the market has to define the bottom.  We thought it had possibly done that at 1345, it looks like it needs some more exploring.


Should we hold this area for a 3rd time, that could turn the puters around looking for easier trades to the upside.   For now it remains sell the rallies.



US Dollar DX Futures Comments:

The dollar has broken the 80 level, we now look for a run to 81 as the Euro continues to weaken.  The dollar is on a trend. image

TLT Twenty Year Bond EFT Comments:

TLT has showed us all, up and over the trading range, those 120s we boasted never seeing again or going to appear.  The trend is up and 123 in now not out of the question. image

>>> 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.