Featured Breadth Chart of the Day

SNAGHTML38a25a

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.
–H.L. Mencken


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

Short: 1894
Long:  1876

image

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):

image

Not much changing here, waiting on the world to change.

Follow me on Twitter  @redliontrader <<<<<


On the MiM:

   image

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
5/6/2014 Long 1.88 (xx:20)
5/8/2014 Long 3.11 (xx:40) 1.24 (xx:40)
5/9/2014 Long 2.72 2.50
5/13/2014 Long   0.26 0.20
5/16/2014 Short -2.22 -1.40 -2.11
5/22/2014 Short 3.32 2.24 1.66
Total   6.09 4.96 2.25

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


 

Breadth Charts in Full:   Zweig Breadth Thrust

image

Moving on up.  Bears need to see some weakness, that is two in a row for the bulls.

 


Cumulative Volume Index:

image

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):

image

Ditto as above on this chart.


New Highs / New Lows ratio chart:

 

image

The upper 80s ain’t the 90s, but close.

 


Trenders Short Term Trender –  McClellan Summation Index:

image

Bearish.


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

image

Bullish.


Parting Shot: 

image

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.

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

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

DISCLAIMER: The information and data in the following report(s) were obtained from sources considered reliable. Opinions, market data, and recommendations are subject to change at any time. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any commodities or securities. RedlionTrader.com, its  officers, directors and its contributors may in the normal course of business, have position(s), which may or may not agree with the opinions expressed in this report. RedlionTrader.com, its officers, and directors are not agents, representatives, or affiliates of the CME Group or any trading entity. Trading Futures, Options, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in these report(s) will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.