There goes the Neighborhood $ES_F 1879 x 1869

Featured Breadth Chart of the Day:



Holding pattern for higher prices potentially.  It is all about fed speak today.


Quote of the Day:
It could probably be shown by facts and figures that there is no distinctly native criminal class except Congress
–Mark Twain

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

Short: 1879
Long:  1861


On the upside we have 1879 to watch for a reach, that might come at announcement time today at 2pm ET.   We could drift higher into the news but expect volatility to be squished until we do.


Today is the last trading day in April.  I would expect volatility in the last two hours of trading.  It is going to be fun to watch.  Let’s see if the  “sell in May crowd” steps in or if the “short in May” crowd gets squeezed today.



On the MiM:


Absolutely nothing on the MiM.  Worth watching today to see if the institutions are in the “Sell in May” crowd.

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
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):


Trading 112 x 110 and the bonds will be waiting for text and words like: “extraordinary, long period of time, accommodative, expectations, tapering, extended”, all words for the Fed Lexicon.  Watch the bonds at 2pm for a clue to the markets.

Follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:   Zweig Breadth Thrust


Can the bulls follow through?  Momentum has waned for the bulls, but there is a comma inserted here in the markets waiting for the Fed to speak.


Cumulative Volume Index:


Right on our line.

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


We have in the last couple of days pulled back enough to make a decent foot hold for a push higher.

New Highs / New Lows ratio chart:



Bulls still need the 90s, bears the 40s;

Trenders Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 

Someone asked me how I felt about the NBA owner and the commissioners lifetime ban and how to handle private conversations that are leaked and how the press has reacted and blah blah blah.  None of it directly effects me so I don’t really have to make any decision and without a decision or action I don’t really need to form an opinion. I don’t watch NBA, I don’t live in LA, I don’t go to Clipper games and there are enough people that do have to make a decisions that I get to move on to all my own issues knowing someone else is going to take care of it. 

I thought one of the more insightful pieces on the subject was written by Kareem Abdul-Jabbar in a opinion piece:

So back I go to my main task at hand,  to love my neighbor and to help my neighbor to love their neighbors and hope the chain spreads all the way to you.   Glad Donald Sterling’s not my neighbor, life is hard enough.

As always, we want your feedback!

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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