Looking for a safe harbor $ES_F 1830 x 1859

Featured Breadth Chart of the Day:



Ok, A/D line down but price not so much.  A gap down open today has us hoping for more downside follow through.

Quote of the Day:
You cannot build a reputation on what you intend to do.
–Liz Smith

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

Short: 1883
Long:  1859


The market is tightening up, that 1830 from yesterday was repulsive and we have moved down 1868 to 1859 for today.  A break of that area and there is an indication that no one wants to hold over the Ukrainian weekend.   Below 1859 we have 1848.   Yesterday, breadth wise, was sufficiently strong enough to warrant all out bearish type trading.  A strong updraft could occur at any moment.

Watch the opening hour today to judge if the US market shares the European sentiment.


On the MiM:


No-Show MiM yesterday.  Look how tight that close was, +/- one point. ZZZZzzzzzzzz


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
4/2/2014 Long 1.99 1.09 0.07
4/3/2014 Long 2.71 1.99 0.31
4/11/2014 Short 1.16 2.86 5.10
4/15/2014 Long 4.04 -0.21 -0.04
4/17/2014      Short 1.72 3.66 3.27
4/23/2014 Short -0.41 (xx:20)
Total   11.21 9.39 8.72


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

Comments about TLT (Twenty year Bond ETF):


Testing the 111.50 area.  We should bust through today if the market decides to seek safety for the weekend.

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Breadth Charts in Full:   Zweig Breadth Thrust


Price needs to follow through weaker A/D lines.


Cumulative Volume Index:




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



New Highs / New Lows ratio chart:


Still in the 90s.  Bears be warned that this could blow back up.  134 new highs yesterday on a weak day.

Trenders Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 


Heading up to Camden, Maine.  My wife has planned a get away weekend.  It is awesome up there.   There is a large hill (Mt. Batte) right next to town where this photo was taken.  It is a great harbor and home of Maine’s schooner fleet that sails each summer with guests that want to experience life in the old days.  I am looking forward to the new ones and a nice cushy bed. 

Peyton Place outdoor scenes were based on Camden.   There are great restaurants, walks and scenery, not to mention a new winery that is the best in Maine (ok don’t laugh, it’s pretty good you west coast elites).

The work week ends for me at noon time today.  Enjoy your weekend, all.

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

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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