Up and at ‘em $ES_F 1896 x 1886

Commentary, E-mini S&P 500, MiM

Featured Breadth Chart of the DayNyah-Nyah


The bulls did it, they got their 90 on the NHs/NLs, today it is about holding the gains.  We want to see greater than 200 new highs on the NYSE in order to see some foundation firming here for more ascension.

Quote of the Day:
Keep your fears to yourself, but share your inspiration with others.
–Robert Louis Stevenson

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

Short: 1896
Long:  1882


Range is tight today as we expect to see some consolidation and confirmation from yesterday’s gains.  The market needs to firm in order to confirm.   The 1892 area was what we called for yesterday and we see about four above that as sniffing area for the bulls.  We are already there as of 7:30am ET today.

Our next level up is 1913 so we want some fight in the market to help us map out an ascent path to get there, we don’t think it will be a straight shot.

On a longer term chart, this is our third peak.  That is a precarious situation so don’t forget to look down, we are a long way up here.  That down looks past 1880 down to 1855 and then 1841.

On the MiM:


So-so close on the MiM for a signal, that dollar percentage never got up above the 66% to give us enough confidence to put chits on the table.  Best entry long yesterday was 3:30pm that looked to have been able to get you one and a tick on the upside.

On the downside it was that 3pm ET entry with an exit at 3:30pm that was the sweet spot for about the same gain as the best long.  All and all a pretty un-dynamic close.

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
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
Total   4.99 3.96 2.50


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

Comments about TLT (Twenty year Bond ETF):


TLT now about 1/2 way to our 109 target.

Follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:   Zweig Breadth Thrust


Bulls need to hold a positive A/D line into the close.


Cumulative Volume Index:


We haven’t really broken out here yet.

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


Our 40 DP showing a decent upward movement.

New Highs / New Lows ratio chart:




Trenders Short Term Trender –  McClellan Summation Index:


Short term trender thinking about changing – bearish/neutral today. 

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



Parting Shot: 


– blank –

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

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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