Featured Breadth Chart of the Day
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:
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:
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. email@example.com
|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)||—|
If you want to join the meter readers you can go to: Join the MiM
Comments about TLT (Twenty year Bond ETF):
Wrong way TLT… Money moving into bonds again.
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Breadth Charts in Full: Zweig Breadth Thrust
Bulls have today to turn it around and the starting line is a bit behind yesterday’s close.
Cumulative Volume Index:
Still not broken out higher.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
Breakout, but needs to push even higher out of this hole.
New Highs / New Lows ratio chart:
Bulls want to bump it up and if they do, watch out.
Trenders Short Term Trender – McClellan Summation Index:
Bullish – weak bullish trend change on the short term trender.
Long Term Trender – Cumulative 4-week Highs – Lows (the fat lady):
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! firstname.lastname@example.org
Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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