Featured Breadth Chart of the Day
Pushing the 90s. Not good for the bears, it really needs to fall apart soon.
Quote of the Day:
Injustice is relatively easy to bear; what stings is justice.
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
Bears are being tortured. Like a slow water torture, drip, drip. Yesterday we had 1892 as the goal and today it just moves up a couple more to 1894. Slowly moving higher.
On the downside we have 1876, but any downside would be worth seeing, just for a change of pace.
Comments about TLT (Twenty year Bond ETF):
Not much changing here, waiting on the world to change.
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On the MiM:
The MiM was a solid red yesterday and gave us a sell signal all hour long. Shot at each entry was profitable. let’s see if the selling get any momentum today.
|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
|5/8/2014||Long||3.11 (xx:40)||1.24 (xx:40)||—|
If you want to join the meter readers you can go to: Join the MiM
Breadth Charts in Full: Zweig Breadth Thrust
Moving on up. Bears need to see some weakness, that is two in a row for the bulls.
Cumulative Volume Index:
CVI, right at the spot to take care of that little divergence problem.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
Ditto as above on this chart.
New Highs / New Lows ratio chart:
The upper 80s ain’t the 90s, but close.
Trenders Short Term Trender – McClellan Summation Index:
Long Term Trender – Cumulative 4-week Highs – Lows (the fat lady) :
Some things are just worth fighting for. This weekend is a time to reflect on those that have sacrificed to give us something extraordinary here in the US and exported around the globe: Freedom. It is one of those intangibles that you don’t know what you have until it’s gone, but you use it every single day. That gift, while endowed from God, has been protected at a price and this weekend is about remembering those that paid that price for me so that I can enjoy the gift. Thank you all who have fought the fight and remembrance for those who never came home.
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Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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