Tuesday, July 31, 2012

Morning Market Analysis

Despite all of the reports coming from the markets about the East and the EU, the overall position of the equity markets is one of contained action; the IWMs and QQQ are trading in a range while the SPYs have just barely broken out. 

We're starting to possibly see a few cracks in the Treasury rally.  Notice the SHYs broke a short term uptrend (although they're at previous highs).  The IEFs and TLTs are right at support.