God Bless $ES_F 1760 x 1721

Featured Breadth Chart of the Day:


We don’t think we are done yet.  Looking into the machine it looks to us like there is one more rinse cycle.   We want our Zweig below 40, else we will pay later.

Quote of the Day:
If we find a man of rare intellect, we should ask him what books he reads.
–Ralph Waldo Emerson

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

Short:  1760
Long: 1721


We are dropping down our lower target.  As we have said we think there is one more rinse cycle left to this “correction”.  For today we have 1760 on reversal watch.  If that does reverse, we are looking toward 1721 as a potential exhaustion point for the bears.  Stay tuned.

On the MiMSmile with tongue out


I can always tell when traders get frustrated with the MiM, I see the emails and ride cancellations.   We have to be patient and learn to listen and trade what we see.  The lessons so far have not been too costly and we are still points ahead from Nov, Dec and January rides.   February is off to a rocky start with yesterday showing us a nice strong MiM and while there was some upside, it melted away during the final trading minutes.

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
2/3/2013 Long -0.64 -2.80 -3.90
2/4/2013 Long -1.55 -0.70 4.85
2/5/2013 Long 1.21 -1.30 -2.43
Total   .98 -4.10 -1.48

* – NFP Day before and day of.
** – New Year’s Eve / End Of Year

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

Comments about TLT (Twenty year Bond ETF):


TLT giving back some now.  I am outta here starting tomorrow for vacation so best of luck on the TLT-a-whirl.  When the market does begin to climb again, expect some continued downside here. 

>>> You can follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:

Zweig Breadth Thrust


Still waiting. 

Cumulative Volume Index:



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



New Highs / New Lows ratio chart :


Not much of a bounce, we would like to see some up and then another collapse. 


Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 


Yesterday I received a scam phone call.  I am used to the credit-card services one and also the auto-warranty one.   This one was different.  This was a support call from Quicksoft doing support for Microsoft.  They had noticed a ton of errors on my computers and they where there to kindly help.

It was a woman with just a slight accent, but the room in which she was phoning was very noisy, there were evidently a lot of people with computers that had issues.  I played along for a while, curious about how the scam worked.  I am also always curious about the scammers themselves.  Where are they, how did they get there,  why do they do this and how profitable is it?

I don’t usually get far when I start asking questions, funny enough.

This scam is they walk you through your pc, show you all the errors you have (there are always a ton of errors) and bogusly tell you that someone is trying to hack your pc or that something is wrong.  The only thing wrong is the person on the phone.

When asked, why are you trying to scam me I got a simple, “Have a nice day and God bless”.


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

Thank you for Reading –
Marlin aka RedlionTrader @redliontrader

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