Featured Breadth Chart of the Day:
Still a whole lot of nothing going on. If your funds are moving then congratulations to whoever is timing your fund, but I don’t see anything positive since February.
Quote of the Day:
He who laughs last has not yet heard the bad news.
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
The good news is if you are bearish, that lower target has now moved down to the 1845 area. If 1882 should give way, the upside reach of 1891 is in the cards (like 1872 on the close yesterday).
On the MiM:
Right down the middle for the symbol count yesterday kept me out of the closing trade.
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|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
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Comments about TLT (Twenty year Bond ETF):
Still messing about here as money continues to slide into bonds for summertime storage. Once that settles we should see that downside.
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Breadth Charts in Full: Zweig Breadth Thrust
Three times a charm.
Cumulative Volume Index:
We really haven’t moved anywhere since February.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
All stocks are holding, that doesn’t really bode well for the bulls as they would like to see eroding in here to become kindle for the next fire.
New Highs / New Lows ratio chart:
Still no 90s, bulls.
Trenders Short Term Trender – McClellan Summation Index:
Long Term Trender – Cumulative 4-week Highs – Lows (the fat lady):
Sushi in Maine? Possible? When asked what the greatest export of the Orient is I always respond “the people”. You can find great Chinese, Japanese and Korean food almost anywhere, and one of those places is Saco, Maine, just a few miles up the road.
The Hanabi is run by JungHwa Jung and last night her son, KwonDuk, was there to whip me up a plate of delicious Sushi. I am not an expert, but I do love the tuna and JungHwa did it up right for me including my favorite, the Philadelphia roll.
All washed down with a Sapporo, it didn’t take long to clean my plate.
Is it worth the drive from Boston? Yes, because when you are done you are still on the coast of Maine.
Looking forward to my second visit already and congratulation to KwonDuk who graduates from high school this month and gets ready for UNE, your mom is so proud!
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Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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