Stuck in the mud $ES_F 1866 x 1848

Featured Breadth Chart of the Day:



Day 2 warning for the bears.  This is chattering here on the 90s.  Buyers are buying into the new highs.

Quote of the Day:
Men achieve a certain greatness unawares, when working to another aim.
–Ralph Waldo Emerson

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

Short: 1866
Long:  1848


We haven’t pushed much higher, we are bearish but that is getting old now as the NHs/NLs indicator is screaming at us that we are in a slow ascending, grinding climb.

We have moved our upper limit to 1866 and again at the open we find ourselves there, pushed up against the ceiling as the markets open. We have left 1848 in place for the downside.  If that breaks then our bearish call is most likely validated.


On the MiM:


Skimming just below the surface of a buy signal for me so I did not participate, but the market did follow along.  We are doing a boot camp this week at MrTopStep in the IM Pro trading room and we are working together to trade the MiM.  There have been a lot of good questions and a common theme is why does the market move the other way from the MiM?  That is, when the MiM says there is a sell-side imbalance, why does the market go up?

The reason is that we have been given a crystal ball, a sneak peek at at number that the masses will not get until 3:45pm.  The masses don’t don’t understand that a billions dollar imbalance is pending so the market trades along.  Those ignorant, divergent moves on big MiM days are the best! 


If you have streaming issues, please let me know.

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):


Can we get it to come down?

Follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:   Zweig Breadth Thrust


We are in chatter higher mode, we still want to see that oversold < 40 on the Zweig, we might have to wait for May now.

Cumulative Volume Index:


At the trend line.


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


No Info.

New Highs / New Lows ratio chart:


Holding in the 90s, that is very bullish.

Trenders Short Term Trender –  McClellan Summation Index:



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


Neutral – Bullish.

Parting Shot: 


It,s mud season.  That time of year when the ground thaws from the top down and the top gets saturated as there is no where for the water to drain, plugged by a lower frost line.   Soon that will thaw and we will be up and running again swatting a new year’s crop of black flies.

No buds yet, they will be coming along soon.  Spring is slowly winning but soon it will be just wind breakers and boat shoes.

Speaking of stuck in the mud, this market is squeezing higher at glacial speeds, kind of stuck in the mud.  It should propel out one direction or another in the next week.

As always, we want your feedback!

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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