Looking for signs of follow-through today, bearish divergence on the A/D lines. $ES_F 1680

Today’s Economic News:


Nothing from the Majors yet today.    USA will see some retail sales numbers and the NY Empire state should put the spin on the NY open today.

Quote of the Day:
The happiest couples are those who spell “us” with a capital “you.”
–Klare Provine

Featured Breadth Chart of the Day:


Featuring the New High / New Low charts.  They remain incredibly strong making it almost impossible to short this market.


Comments and Levels for the Front ES (S&P500 – Emini futures) contract:

Short: 1680
Long:  1538


I am watching for that double top at the 1680 area to see how this run-away bull will react.  We like the 1650 area for a retest and, if that fails, a breakdown to the 1616 area, but for now, bull on.   If you doubt that, look at that these crazy closing imbalances!


On the MiM



We couldn’t believe our eyes as the close built.  99% buy side on the last reads on Friday.   Our signal came in on threshold at 3:10pm ET and that turned out to be the best entry spot giving an easy 5 points back in return.  That is not bad on a day that only saw a 5.75 point range going into the close.   It would have been hard to get stopped out on that closing trade.

We have a new week starting on the MiM.  You can follow along after the close by going to http://closingimbalance.com/snapshots-mim and see how the MiM performed for the subscribers that day.  It is usually complete with information about 5 minutes after the cash close. 

If you want to invest in your trading and see if the MiM would be a good addition to your bag of tools, you can sign up for a month for just $99. Even if you only do one month, learning the mechanics of the close is as important part of understanding the market.




Comments about TLT (Twenty year Bond ETF):  


We have been looking for that 108.75 on the upside as a stop to a bear flag.  The price is flagging so far so let’s watch for a touch in that area and see if we fail.  If we do, we are looking in the 105 area.


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Breadth Charts in Full :

Zweig Breadth Thrust:


Our NYSE A/D line remained negative into the close.  That has set up a bearish divergence here.  Caution on aggressive longs is advised.

Cumulative Volume Index:


Volume followed through nicely.


Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):


The 40 DPI is also in line with the market

New Highs / New Lows ratio chart :


This we already know…

Trenders :

Short Term Trender –  McClellan Summation Index:



Long Term Trender –  Cumulative 4-week Highs – Lows (the fat lady):


Thank you for Reading –
Marlin aka RedlionTrader @redliontrader


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