Remembrance and a Thank You. $ES_F 1894 x 1882


Featured Breadth Chart of the Day

SNAGHTML38a25a

Pushing the 90s. Not good for the bears, it really needs to fall apart soon.


Quote of the Day:
Injustice is relatively easy to bear; what stings is justice.
–H.L. Mencken


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1894
Long:  1876

image

Bears are being tortured.  Like a slow water torture, drip, drip.  Yesterday we had 1892 as the goal and today it just moves up a couple more to 1894.  Slowly moving higher.

On the downside we have 1876, but any downside would be worth seeing, just for a change of pace.

 


Comments about TLT (Twenty year Bond ETF):

image

Not much changing here, waiting on the world to change.

Follow me on Twitter  @redliontrader <<<<<


On the MiM:

   image

The MiM was a solid red yesterday and gave us a sell signal all hour long.   Shot at each entry was profitable.  let’s see if the selling get any momentum today.

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long   0.26 0.20
5/16/2014 Short -2.22 -1.40 -2.11
5/22/2014 Short 3.32 2.24 1.66
Total   6.09 4.96 2.25

  If you want to join the meter readers you can go to: Join the MiM


 

Breadth Charts in Full:   Zweig Breadth Thrust

image

Moving on up.  Bears need to see some weakness, that is two in a row for the bulls.

 


Cumulative Volume Index:

image

CVI, right at the spot to take care of that little divergence problem.


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

image

Ditto as above on this chart.


New Highs / New Lows ratio chart:

 

image

The upper 80s ain’t the 90s, but close.

 


Trenders Short Term Trender –  McClellan Summation Index:

image

Bearish.


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

image

Bullish.


Parting Shot: 

image

Some things are just worth fighting for.  This weekend is a time to reflect on those that have sacrificed to give us something extraordinary here in the US and exported around the globe:  Freedom.  It is one of those intangibles that you don’t know what you have until it’s gone, but you use it every single day.  That gift, while endowed from God, has been protected at a price and this weekend is about remembering those that paid that price for me so that I can enjoy the gift.  Thank you all who have fought the fight and remembrance for those who never came home.

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

It is a waiting game, like being a vet: $ES_f 1892 x 1855

 


Featured Breadth Chart of the Day

image

Ping pong on the A/D lines as we bounce up, but the bulls have shown a two-fer in here.  Two days of up and get those numbers back up.


Quote of the Day:
I was so hungry I could have eaten a horse. But only pigs were available.
–Anonymous


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1892
Long:  1855

image

OK bulls,  show us what you’ve got.  I have 1892, an extra +1 on yesterday’s number.  That is the double dare level for today.  A breach and we may be on a run to 1913, a new century.

If the breadth is foretelling a different outcome, we see 1855 as a downside target with confirmation on that script coming in on a break of 1876.

On the MiM:

image

A large sell imbalance on Goldman Sachs had the dollar side of the MiM pushed to the sell side, while the symbols were aligned with the bulls.  That makes a divergent MiM and, for me, is not a signal for a MiM trade.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long 0.26 0.20
5/16/2014 Short -2.22 -1.40 -2.11
Total 2.77 2.72 0.59

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

image

Bonds like the downside when the markets show strength.  We are looking for a trend change and that hasn’t happened yet as the interest rate trend is still to the downside.

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

image

A/D line is working it out.  We would love to see it break and run below 40 and get oversold, something it hasn’t done since last year.

 


Cumulative Volume Index:

image

A divergence here as CVI is lower and a higher high.   Bulls need to work it out.


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

image

No comment.


New Highs / New Lows ratio chart:

 

image

See above.

 


Trenders Short Term Trender –  McClellan Summation Index:

image

Bearish.


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

image

Bullish.


Parting Shot: 

About a month ago I wrote a parting shot on a CNN story about treatment of our veterans in the VA hospital system.  That was a month ago.  Yesterday, our President stood up and announced he wasn’t going to stand for it.   I agree, but he is a bit late to the boat. But then again when government is ruled by political necessity, the fire has to get hot enough to kick leadership into action.  Instead of doing the right thing, we have to wait for poll numbers to come up.

Now we are told to be patient as we are put on the president’s waiting list and while he does yet another thorough investigation, another political waiting list where we are the victims of the same inaction that the VA is accused of.  I wonder where it comes from?

This time there is more than the life of an ambassador at stake and we need to team up, left, right, centered, or dis-enfranchised, it is time to stop making excuses and demand the government that we pay for.  Despite what you are told, you built that, go take it back.

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

Double Rainbow, what does it mean? $ES_F 1891 x 1862


Featured Breadth Chart of the Day

image

That 90’s scare is over, but we should be dropping like a rock here.  This delayed reaction should be a bit worrisome for us bears.


Quote of the Day:
The easiest thing to find is fault.
–Anonymous


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1891
Long:  1862

image

We expanded the upside from 1886 to 1891, that is the wrong direction for us.  We want failure and we want it big and we want it now.  Our bottom for today though is only at 1862.   If we all stomp hard enough there we might break lower to the 1852 region and work our way to a 3% correction.

On the MiM:

image

The MiM did not meet my trigger criteria, but it did a reasonable job building up into the close as the markets were thin.  Buyers were forced to trade on the close although post reveal, the markets countered the imbalance.  It was light into the close.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long 0.26 0.20
5/16/2014 Short -2.22 -1.40 -2.11
Total 2.77 2.72 0.59

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

image

Bonds have no idea which way they want to go.

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

image

We want below 40.

 


Cumulative Volume Index:

image

There’s a breakdown that would make the bears happy, but price is not biting.


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

image

Only 50% of the stocks on the NYSE are above their 40 day moving average now.


New Highs / New Lows ratio chart:

 

image

Come on 10’s.

 


Trenders Short Term Trender –  McClellan Summation Index:

image

Bearish.


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

image

Neutral.


Parting Shot: 

Free show last night as we were out on the deck watching a beautiful sunset.  We face almost directly east and are blessed with a sunrise (which now is like 5am!), but for sunsets, we get what I market to friends, family and guests as a “Reverse Sunset”.  The water takes on that setting glow and the houses on the point light up.  I like it better than staring at a hot yellow circle.  It brings me out of the house on days like this.

Last night as the magic was happening, a very small area out over the ocean started to sprinkle. I snapped a picture of this little stubby rainbow way out on the horizon. As we waited and watched, it grew both in size and intensity.

The result was a full on double rainbow.  What does it mean?  Life is good.

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

Expecting the downside to continue $ES_F 1882 x 1852


Featured Breadth Chart of the DayNyah-Nyah

image

There’s the bounce, we like it down further though.   We are back down to where that closing squeeze happened into Friday’s close.


Quote of the Day:
Intellectual growth should commence at birth and cease only at death.
–Albert Einstein


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1882
Long:  1852

image

We are fans of the down over the next few days.  But if too many of us feel the same way with this thin market, we could get squeezed.  For the upside we want to watch 1882, our downside is now 1852.

On the MiM:

image

The curse of the 3x witch bit me on the MiM on Friday.   Had I waited for the weekend I would have been nicely rewarded, but that was not to be so our nice selling MiM was swallowed up by the OPEX closing.  It happens.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long 0.26 0.20
5/16/2014 Short -2.22 -1.40 -2.11
Total 2.77 2.72 0.59

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

image

We have not been able to get that downside and if we are to sell off the equities now, TLT is not going to move down either. 

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

image

Bounce.

 


Cumulative Volume Index:

image

So, not much accumulated.


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

image

Breadth right into the selling.


New Highs / New Lows ratio chart:

 

image

The bounce is in, is the resumption to the downside going to continue?

 


Trenders Short Term Trender –  McClellan Summation Index:

image

Bearish.


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

image

Neutral.


Parting Shot: 

No Comments today.

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

See all the people. $ES_F 1876 x 1855


Featured Breadth Chart of the DayNyah-Nyah

image

Bounce spot.  We are looking for lower but we could just produce a decent bounce in here.  Read the ES comments below to see what I am looking for to read the next move.

It is worth noting that our trenders are bending.


Quote of the Day:
A court is a place where what was confused before becomes more unsettled than ever.
–Henry Waldorf Francis


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1876
Long:  1855

image

Nice downside move, that took us 2% back from the highs, almost to the penny.   To make it easy today, there are just two levels to watch.  1876 on the high side should be a stopping point if we bounce.  If we lance through, watch out, we could see some higher action on Monday.

For you downers, watch the 1855 for a test and hold.  If it holds, we could be over the selling.  I don’t think so, there was some real selling last yesterday.  Look at the accumulative volume chart from yesterday, there was pressure getting through the exit doors.  We think after a wiggle and a wag we should see even lower prices in here, like 5 to 8% back.

Today, everything points thus far to a bounce.

On the MiM:

image

Nada on the MiM.  It made the chat alpha testing a bit awkward but hopefully today we will see some more action at the closing auction.  Be part of a small open house chat test, if you have a Firefox or Chrome browser let me know if you can get in to http://chat.fortunesrocks.me and access the MiM and hear me drone on.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long   0.26 0.20
Total   4.99 4.22 2.70

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

image

With the market selling, TLT is going to be under accumulation pressure. 

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

image

These mid level struggles that we have had on the Zweig since the end of April almost always resolve to the downside.  Now it is a question of getting oversold, that is a reading below 40.  It usually puts up a fight getting to that level.

 


Cumulative Volume Index:

image

Breakdown.


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

image

Breadth right into the selling.


New Highs / New Lows ratio chart:

 

image

Right on the bounce line.


Trenders Short Term Trender –  McClellan Summation Index:

image

Bearish.


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

image

Neutral.


Parting Shot: 

image_thumb4_thumb

Thank you to all that came in, I appreciate the testing and help.  I have a lot of “clean up” to do this weekend, but your testing has been invaluable! Thanks.

I will have the doors in the room open  again today, so feel free to stop in and don’t be shy about typing in the comment box.  It is Friday on a potentially volatile day, so the MiM may just come into play, so come in and play!

Yesterday we opened the door and today we want to see all the people… Have a great weekend!

Go to http://chat.fortunesrocks.me and click on” Sign Up”.  That should get you in and give you a password.  There is still work to do but any shakedown you can provide will be appreciated.

I am sharing my charts and also the MiM this afternoon at 3pm ET so you can see that in action, too.

Hope to see you in the room (remember – Chrome or FireFox only!).

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

Open the doors $ES_F 1862 x 1891


Featured Breadth Chart of the DayNyah-Nyah

image

New highs are not there, we only did 81.  I think we continue to bleed out momentum to what is already a sluggish market that is biased to drift higher.   We think some lower level testing might make more sense from here.


Quote of the Day:
There is no cure for birth and death save to enjoy the interval.
–George Santayana


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1891
Long:  1862

image

Here’s my deal.  The super trading range is 1913 x 1841… I expect us to stay in that box for a while.   For today, 1891 looks to be a reasonable spot to look for a drop. I don’t really have a long spot, maybe 1880.  The breadth and A/D line are flailing and bull markets need leadership and leadership is usually revealed at lower prices.  We still favor the downside.

On the MiM:

image_thumb

Nothing on the MiM as we had a decently volatile close, but the MiM was all over the place and never really triggered one way or another and it left me sidelined watching the give and take.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long   0.26 0.20
Total   4.99 4.22 2.70

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

image

Wrong way TLT…  Looing for 114 now on the upside.. One of these markets (either equities or bonds) is not going to sustain.

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

image

This kind of action almost always resolves lower.

 


Cumulative Volume Index:

image

No new high here.


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

image

Lackluster follow through.


New Highs / New Lows ratio chart:

 

image

That ain’t the 90s.


Trenders Short Term Trender –  McClellan Summation Index:

imageimageimage

Neutral.


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

image

Bullish.


Parting Shot: 

image_thumb4

So come on in and let me know if it works.

go to http://chat.fortunesrocks.me and click on” Sign Up”.  That should get you in and give you a password.  There is still work to do but any shakedown you can provide will be appreciated.

I am sharing my charts and also the MiM this afternoon at 3pm so you can see that in action, too.

Hope to see you in the room (remember – Chrome or FireFox only!).

 

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

Follow the stream $ES_F 1901 x 1882


Featured Breadth Chart of the DayNyah-Nyah

image

We like the 90s to keep us bullish, we were close to that on the NHs/NLs numbers.   We would like to have seen something greater than 200 new highs, we only did 150.


Quote of the Day:
The enraged colonists were mad.
–CJ’s US History Work


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1901
Long:  1882

image

Upside for today is 1901 for us.  If the markets move beyond that, we think they can go much higher.  If we fail there, watch a fall down to the 1% area of 1880 or, as we have it marked, 1882.

On the MiM:

image

A strange MiM to trade as it was late in producing.  I did a 3:20pm entry and you can argue that I shouldn’t have based on this chart.  I was a bit late at checking in and right after 3:20pm the MiM reached the 200MM threshold, hence the entry.  Again at 3:30pm the MiM was building so another entry.  I basically closed out break even on the trade.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long   0.26 0.20
Total   4.99 4.22 2.70

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

image

Wrong way TLT… Money moving into bonds again.

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

image

Bulls have today to turn it around and the starting line is a bit behind yesterday’s close.

 


Cumulative Volume Index:

image

Still not broken out higher.


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

image

Breakout, but needs to push even higher out of this hole.


New Highs / New Lows ratio chart:

 

image

Bulls want to bump it up and if they do, watch out.


Trenders Short Term Trender –  McClellan Summation Index:

image

Bullish – weak bullish trend change on the short term trender.


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

image

Bullish.


Parting Shot: 

image

Coming soon!  Maybe tomorrow?  I am just putting some finishing touches on my new chart streaming and chat technology.   I will be looking for some brave volunteers to do some button pushing and debug reporting.  I have to do just a little bit more tweaking today and tomorrow I will publish the public link if you want to come in and say hi.

 

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

Up and at ‘em $ES_F 1896 x 1886


Featured Breadth Chart of the DayNyah-Nyah

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The bulls did it, they got their 90 on the NHs/NLs, today it is about holding the gains.  We want to see greater than 200 new highs on the NYSE in order to see some foundation firming here for more ascension.


Quote of the Day:
Keep your fears to yourself, but share your inspiration with others.
–Robert Louis Stevenson


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1896
Long:  1882

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Range is tight today as we expect to see some consolidation and confirmation from yesterday’s gains.  The market needs to firm in order to confirm.   The 1892 area was what we called for yesterday and we see about four above that as sniffing area for the bulls.  We are already there as of 7:30am ET today.

Our next level up is 1913 so we want some fight in the market to help us map out an ascent path to get there, we don’t think it will be a straight shot.

On a longer term chart, this is our third peak.  That is a precarious situation so don’t forget to look down, we are a long way up here.  That down looks past 1880 down to 1855 and then 1841.

On the MiM:

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So-so close on the MiM for a signal, that dollar percentage never got up above the 66% to give us enough confidence to put chits on the table.  Best entry long yesterday was 3:30pm that looked to have been able to get you one and a tick on the upside.

On the downside it was that 3pm ET entry with an exit at 3:30pm that was the sweet spot for about the same gain as the best long.  All and all a pretty un-dynamic close.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
Total   4.99 3.96 2.50

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

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TLT now about 1/2 way to our 109 target.

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

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Bulls need to hold a positive A/D line into the close.

 


Cumulative Volume Index:

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We haven’t really broken out here yet.


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

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Our 40 DP showing a decent upward movement.


New Highs / New Lows ratio chart:

 

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90s!


Trenders Short Term Trender –  McClellan Summation Index:

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Short term trender thinking about changing – bearish/neutral today. 


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

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Bullish.


Parting Shot: 

 

– blank –

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

Flash Crash?! $ES_F 1982 x 1855


Featured Breadth Chart of the Day:

 

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Our two trenders remain diverged with our short term trender telling us that the market is on its way down (we don’t see that in price). Meanwhile, the longer term accumulation of new highs continues to push higher showing that the market continues to be bought.  At least quality, or should I say perceived quality, is.

The market is flying sideways right at stall speed.  We need some wind beneath wings.


Quote of the Day:
Pessimist: One who, when he has the choice of two evils, chooses both.
–Oscar Fingall O’Flahertie Wills Wilde


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1891
Long:  1845

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1882 is the tough nut to crack now, we have a reach to 1892 if that happens today.  If we break lower, look to 1855 and 1844 after that.   We continue to lose a bit of breadth, we would like to have price follow as we could be setting up an invisible correction that rebuilds and busts us out higher.

 

On the MiM:

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Another partial trade on the MiM.  So here is how it works for me:  At 3pm I entered long (it should be 200MM but all the data wasn’t in yet and I extrapolated that it would be 200M so I entered there).  At 3:20PM we continued to have a signal and our size had grown so another entry.  At the 3:30pm entry time the dollar size had moved from 268M down to 263M, so no entry but stayed in the trade with the 3pm and 3:20pm entry.  By 3:40pm the signal was gone so I exited all entries.

 

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
Total 4.99 1.24

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

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TlT doing a whole lot of nothing.

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

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We want some downside today, or else our bearish story is going to get slapped.

 


Cumulative Volume Index:

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Market continues to go nowhere and that is both upside and downside.


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

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Running out of clever things to say… sideways.


New Highs / New Lows ratio chart:

image_thumb15_thumb_thumb_thumb_thumimage_thumb11_thumb_thumb_thumb_thum[2]

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Nothing being sold and just enough quality being bought to keep us up for now.


Trenders Short Term Trender –  McClellan Summation Index:

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Bearish.


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

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Bullish.


Parting Shot: 

Big progress this week in creating a team room with audio and screen-share.  We are now able, without using flash and using just modern browsers (chrome & firefox)  to display and talk.  So far our testing is pretty compelling and we have been running multiscreen shares for clients.  Latency is excellent and quality is great.

Next week we will be calling for a handful of volunteers to steer us through some alpha testing, maybe accessing the MiM and trading that together? Or I will have some cool indicator up that we can see and comment on, not sure yet.

Here’s a screenshot that doesn’t really do justice to what we have done, but my dream of a flash-free chat environment to replace Adobe Connect and Go To Meeting and Omnovia is within sight.

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As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.

Market needs more cooking time? $ES_F 1891 x 1845


Featured Breadth Chart of the Day:

 

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Still a whole lot of nothing going on.  If your funds are moving then congratulations to whoever is timing your fund, but I don’t see anything positive since February.

 


Quote of the Day:
He who laughs last has not yet heard the bad news.
–Bertolt Brecht


Comments and Levels for the Front (S&P 500 – E-mini futures) contract:

Short: 1891
Long:  1845

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The good news is if you are bearish, that lower target has now moved down to the 1845 area.  If 1882 should give way, the upside reach of 1891 is in the cards (like 1872 on the close yesterday).

 

On the MiM:

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Right down the middle for the symbol count yesterday kept me out of the closing trade.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
5/6/2014 Long 1.88 (xx:20)
Total   1.88

 

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

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Still messing about here as money continues to slide into bonds for summertime storage.  Once that settles we should see that downside.

Follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:   Zweig Breadth Thrust

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Three times a charm.

 


Cumulative Volume Index:

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We really haven’t moved anywhere since February.


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

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All stocks are holding, that doesn’t really bode well for the bulls as they would like to see eroding in here to become kindle for the next fire.


New Highs / New Lows ratio chart:

image_thumb15_thumb_thumb_thumb_thumimage_thumb11_thumb_thumb_thumb_thum

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Still no 90s, bulls.


Trenders Short Term Trender –  McClellan Summation Index:

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Bearish.


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

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Bullish.


Parting Shot: 

Sushi in Maine?  Possible?  When asked what the greatest export of the Orient is I always respond “the people”.  You can find great Chinese, Japanese and Korean food almost anywhere, and one of those places is Saco, Maine, just a few miles up the road.

The Hanabi is run by JungHwa Jung and last night her son, KwonDuk, was there to whip me up a plate of delicious Sushi. I am not an expert,  but I do love the tuna and JungHwa did it up right for me including  my favorite, the Philadelphia roll.

All washed down with a Sapporo, it didn’t take long to clean my plate.

Is it worth the drive from Boston? Yes, because when you are done you are still on the coast of Maine.

Looking forward to my second visit already and congratulation to KwonDuk who graduates from high school this month and gets ready for UNE, your mom is so proud!

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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. RedlionTrader.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. RedlionTrader.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.