Our love is taking this higher, $ES_F 1833 x 1817

Featured Breadth Chart of the Day:


Just a few days ago we were looking for oversold on the Zweig, it never got there and instead we are just shy of the overbought level!  Another 2:1 NYSE A/D line day will get us there.

Economic News:


Light load on the News front.  Nice housing numbers out of Japan.  Last week our jobless claims numbers were a bit hotter than we would have liked.  We need to watch that today.

Quote of the Day:
The person who is not hungry says that the coconut has a hard shell.
–African Tribal Saying

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

Short: 1833
Long: 1817


With this very light volume action the market has a tendency to drift directionally, right now that is to the upside.  We would expect sometime when traders are back to the 1817 area to let everyone in through that door. In the mean time though, the market is punishing those that want to swing short from there.

For today we are at 1833 for the top and 1817 for a downside.


On the MiM:

Christmas Eve MiM had no data, just no buying or selling into the close.  Today we will for sure see some re-alignment as we will get a bit more price action.

We are in the process of putting up a new video that John Monaco, our partner on the NYSE floor, did about the MiM.  It is excellent.  You can view it by going here: 


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
12/2/2013 Short 5.23 4.63 1.94
12/4/2013 Short -0.36 -0.17
12/5/2013* Short -1.51 0.11 0.33
12/6/2013* Short -0.76 -2.07 -2.24
12/11/2013 Short 4.71 2.62 1.85
12/13/2013 Short 1.76 -N/S- -N/S-
12/20/2013 Short -N/S- +0.53 -0.70
Total   9.40 5.46 1.01

* – NFP Day before and day of.

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

Comments about TLT (Twenty year Bond ETF):


We did sell back off this 102.75/102.50 area, we want this to give way this time through 102.25 and eventually down to 101.50.  

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

Breadth Charts in Full:

Zweig Breadth Thrust


Looking better for the bulls every day.

Cumulative Volume Index:



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


Breaking out… don’t stand in the way. 

New Highs / New Lows ratio chart :


Bulls in the upper 90s, nice.  


Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 


Some of my neighbors down-east have had a rough holiday as a multi-day ice storm dropped constant rain down into trapped cold air that froze on everything it came in contact with:   trees, power lines, roads, cars, helmets. I watched the outage map on Monday night seeing almost the entire population of Waldo county without power. 

As family arrived from away on Tuesday it was noted that a constant parade of out-of-state power trucks were making their way North to offer relief and much needed backup to crews already overextended, overworked and overwhelmed.  I know these crews were all treated right and correctly as heroes by my fellow Mainers as many of these men and women sacrificed their family Christmas traditions, warmth, comfort and rest to help those in need and maybe, perhaps, give them a bit brighter Christmas.  It didn’t help that temperatures plummeted to sub-zero on Tuesday night.

The power isn’t fully restored to the North, and for some it won’t be for another few days… but it is already a bit warmer knowing that in times of trouble there are those willing to get out of the Lazy Boy and lend a hand.

Thank you for Reading –
Marlin aka RedlionTrader @redliontrader

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