Save a vet, fire an administrator $ES_F 1883 x 1862


Featured Breadth Chart of the Day:

 

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Markets took a rest on the way up to oversold on the Zweig.  Today’s gap open should correct that.  Zweig needs a 2:1 on the NYSE a/d line today.  Yesterday it was a very, very neutral 1:1.


Quote of the Day:
WAIT! Nature calls!
–rdude
(in the middle of a ping-pong game)


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

Short: 1883
Long:  1862

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We are trapped short here in a bullish market.  That is a tough place to be.  For today, to make all our dreams come true, we want to see 1883 become a top and then fall apart down to the 1862 region.

The gap open today will be a challenge for that scenario.  If after 10:30am we continue to push higher, watch for a reach to the 1892 area.

 

On the MiM:

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Tricked.  I was tricked yesterday into a short with an early read that was biased all to the sell side.  Perfect setup right?  Well, no, I lost a point on my ES trade and our chart takes a half point hit with a 3:20pm exit that lost the signal and eventually we saw the meter bounce back to the up side.

 

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):

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Let those interest rates rip.

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Breadth Charts in Full:   Zweig Breadth Thrust

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A rest beat.   Will the tempo pick up today post open?


Cumulative Volume Index:

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Neutral.

 


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

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Dull.


New Highs / New Lows ratio chart:

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Remains bullish.  Watch for > 100 on the NHs today.


Trenders Short Term Trender –  McClellan Summation Index:

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Bullish.


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

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Bullish.


Parting Shot: 

US military veteran Eugene Morgan, from West Memphis, Arkansas, speaks about his first visit to the World War II Memorial October 2, 2013 in Washington, DC. Veterans groups continue to visit the various war memorials even though they have been shuttered by the government shutdown.  AFP PHOTO / Karen BLEIER        (Photo credit should read KAREN BLEIER/AFP/Getty Images)

 

When it comes to our veterans, we all owe our freedoms to their sacrifices and should move to the back of the line.  That is how I feel.  My wife, on a recent cross country flight, gave up her precious aisle seat and took a middle seat to make room for two soldiers and their service dogs.  That is how it should be.

While the rest of us are selfishly trying to protect our healthcare, the VA hospital system continues to fall apart.  For those of us (me included) that argue that we want a government controlled healthcare system, our opponents can simply see how our current government controlled VA hospital has failed those that should be at the front of the line.  It is embarrassing, shameful and should shake us all with rage regardless of how we feel about Obamacare. Our veterans deserve better, much better.

While we spend a couple of million of dollars chasing down fugitive cows, the veterans in Pheonix find themselves being gamed in a two list system:  one list was sent to DC to show that the VA hospital had met the requirements while the real list revealed that  veterans had to wait up to a year to see a doctor.  Some patients actually passed away while waiting.  That is fraud and instead of allowing our government employees to take the fifth we need to see real charges, real jail time.  It blatant governmental arrogance (we also saw it in Governor Christie’s office with the bridge closing).  It is time we let the cows roam and fight green collar crime and see the jails hold some of these abusers. Being disciplined isn’t enough.

Just how I feel.

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

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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