Featured Breadth Chart of the Day:
That little short yesterday wasn’t too hard to take and call. Now we have to look for follow-through and possible reversal to the downside. Our trenders, however, remain bullish here so we expect some upside reaction.
Quote of the Day:
Goodness is the only investment that never fails.
–Henry David Thoreau, 19th-century American essayist and nature writer
Comments and Levels for the Front(S&P500 – Emini futures) contract:
Follow-through weakness today. That 1813 from yesterday is in play. Somewhere between there and 1806 the buying should resume and drive us back up to the 1832 area.
On the MiM
Nada on the MiM as the market sells into the close.
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|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
* – NFP Day before and day of.
** – New Year’s Eve / End Of Year
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Comments about TLT (Twenty year Bond ETF):
Liking it up to 108 from here. Watch for a break above 107.25. If we fall apart we should find some foundational support at 105.25.
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Breadth Charts in Full:
Zweig Breadth Thrust
Need to watch the A/D line for the NYSE today. Nothing greater than –2:1 and we should be ok for another blast up.
Cumulative Volume Index:
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
New Highs / New Lows ratio chart :
Bulls need to restore this to the 90s.
Short Term Trender – McClellan Summation Index:
Long Term Trender – Cumulative 4-week Highs – Lows (the fat lady):
Hockey – Invented in Canada, perfected in the USA.
For the past two weeks I have been flying the maple-leaf after spending a week with Canadian vacationers and cheering on the Canadian curling team. Time to drop the leaf for the Stars and Stripes today as I cheer on the Woman’s hockey team. There is a fair amount of New England representation on the team so local is local. Go USA!
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Thank you for Reading –
Marlin aka RedlionTrader @redliontrader
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