Featured Breadth Chart of the Day
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.
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
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:
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.
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|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
|5/8/2014||Long||3.11 (xx:40)||1.24 (xx:40)||—|
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Comments about TLT (Twenty year Bond ETF):
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.
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Breadth Charts in Full: Zweig Breadth Thrust
Cumulative Volume Index:
So, not much accumulated.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
Breadth right into the selling.
New Highs / New Lows ratio chart:
The bounce is in, is the resumption to the downside going to continue?
Trenders Short Term Trender – McClellan Summation Index:
Long Term Trender – Cumulative 4-week Highs – Lows (the fat lady):
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Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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