When the selling is over $ES_F 1724 x 1760

Featured Breadth Chart of the Day:


Still not there yet.  We want a below 40 reading in here to gather the herd.

Quote of the Day:
If you really want to do something, you will find a way. If you don’t, you will find an excuse.

Comments and Levels for the Front(S&P500 – Emini futures) contract:

Short:  1760
Long: 1724


My screen-capture didn’t quite capture our new downside target of 1724.  If we are bullish and want to see this selling over, that is as good a touchpad as anywhere.  We want to watch that value today on weakness.  On the upside, a move above 1760 would put a reversal on the table.  Right now we think we have some more work to do to repair this market.  

On the MiMSmile with tongue out


Rocky start to the MiM so far in February.  It is the first time we have traded through February and a tough downdraft.  It was all about timing again yesterday with that 3:30pm entry leading to profit and the early entry stealing money from you.    While we don’t like being wrong, it is all part of the game.  Watch, learn, listen, trade.   We have two days straight of MiM buying, for the longer term case, let’s mark this and how/when this market turns back toward bull heaven.

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
2/3/2013 Long -0.64 -2.80 -3.90
2/4/2013 Long -1.55 -0.70 4.85
Total   -2.19 -2.80 0.95

* – NFP Day before and day of.
** – New Year’s Eve / End Of Year

If you want to join the meter readers you can go to: Join the MiM

Comments about TLT (Twenty year Bond ETF):


There is some TLT reckoning to do, we want to wait for the equity selling to end first before we get a fall. 

>>> You can follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:

Zweig Breadth Thrust


Still waiting. 

Cumulative Volume Index:



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



New Highs / New Lows ratio chart :


Not much of a bounce, we would like to see some up and then another collapse. 


Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 



January is in the books for power.   Around the beginning of the year I announced a project to lower my monthly electricity cost.   Since incandescent bulbs (excepting specialty bulbs) are not allowed to be manufactured anymore, I have decided to replace my incandescent with LED based bulbs in the house.   They are more expensive and I do have a replacement strategy.  The heavily used bulbs, like in my office, are the highest priority.  The lights that we tend to leave on because we forget and they are out of sight (garage, etc) are the next level.

We have been experimenting with manufacturers and styles.   Almost every light in our house is dimmable so we need good dimmable bulbs with warm light characteristics.  I have to say we haven’t found a light we like better than incandescent yet, but the lifetime of these bulbs and the energy savings is almost magical.  Payback might not be instant, but it won’t take long to recoup the investment.

Our January bill last year was about $137 higher. I am not saying that the LED bulbs helped us save all of that amount because  I also invested in a new hot tub cover which I am sure is a much bigger savings, and a switch off computer policy has helped a bit also.   But I can take that savings and buy another ten or so LED bulbs.

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

Thank you for Reading –
Marlin aka RedlionTrader @redliontrader

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