Hello Everyone,
Quick Note: The major indices advanced again today (3rd day in a row) with the SPX nearly reaching its 50 day MA. After today's rally, we have several overbought readings. In fact the SPX McClellan closed at the highest reading this year. In after hours, both GOOGL and MSFT fell short and traded lower which pressured the equity futures. Initial support on ES 3830-35 for tonight.
Elsewhere, the US dollar weakened further and TLT finally staged a rally (both providing tailwinds for the market today).
Please take a moment to look at the trade ideas.
