Run away market, very bullish $ES_F 1881 x 1868

Featured Breadth Chart of the Day:



It is looking more and more that I have this wrong sided, expecting a journey lower.  I wanted < 40 before > 61.25.  It is reaching up for that higher number now and going into overbought territory.  It needs a 2:1 A/D line today to reach rarefied status. That is worth watching.

Quote of the Day:
If all economists were laid end to end, they would not reach a conclusion.
–George Bernard Shaw

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

Short: 1881
Long:  1866


It is the worst kind of climb for bears that are shorting – moves that grind higher with very little relief to the downside to adjust entries.   For today we watch a reach above 1881 and a break of 1868 for clues of a reset and relaxation phase.

Our trenders have turned traitor on us and and switched sides to the bull side.  NHs/NLs have gone all bullish on us.   We have a one day opportunity here to get some downside, if that stretches beyond 1868 it could give us some relief. 


On the MiM:


Straight down the middle on the imbalances yesterday kept us from trading in that mix.  We watch today.


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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
Total   11.62 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):


TLT making another run at the 111.50 highs.

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Breadth Charts in Full:   Zweig Breadth Thrust


Can it reach the rarified extreme above 61.5?

Cumulative Volume Index:


Decent volume piling in on the buy side.


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



New Highs / New Lows ratio chart:


Rarified levels here.  Very, very bullish right now.

Trenders Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 


So it turns out that while you and I are inside getting disrobed, unpacked, throwing away full tubes of toothpaste and getting felt-up, one simply needed to scale this “security fence” at San Jose airport to get beyond security.  Given the choice, I might actually use this method if it got me a seat inside the plane.

If you didn’t see this story, on Monday April 21st a runaway 15 year old teen decided that the place to be was anywhere but home and his ticket out was a wheel well of a Boeing 767 headed to Hawaii. Only by some miracle did he survive the almost 7 hour flight at 38,000 feet, unheated and unpressurized.  So many things could have gone wrong for the teen including getting crushed to death by the retracted gear. He survived. Lucky.

I have long had a fear that the next plane attacks won’t happen through the “well guarded” front door to planes but a flanking attack.  Access to airport tarmacs is a joke.  It would take little planning or execution to get a fuel truck and slam it into a plane full of passengers on the tarmac.  It is harder to get 6oz of shampoo smuggled on board.  We are spending a lot in dollars and liberty for the illusion of security.

I don’t know what that kid was thinking, but if he did not know by the age of 15 that the air at that height is thin and non-survivable and that temperatures are below zero, then his education has failed him too.   Come on people, take off your shoes and shuffle along like the rest of us.

As always, we want your feedback!

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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