Breakout Attempt, 4x a charm? $ES_F 1892 x 1855

Charts, E-mini S&P 500, MiM

Featured Breadth Chart of the DayNyah-Nyah

Building some support here and with this AM gap up it will be all about the post open and if we can hold the gap into noontime.

Quote of the Day:
If you’re looking for friends when you need them…it’s too late.
–Mark Twain

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

Short: 1892
Long:  1855


If you are a bull, you are frustrated.  If you are bear, you are frustrated.  If you are just trading ranges, you are in heaven.   There is no progress as the markets are in American Idle mode.

A gap up this AM has us testing the 1882 top for the fourth time.  Should we break up and through 1886, we expect to see 1892.  On the downside, if the gap open is rejected and selling through 1870 looks strong, watch for 1855.


On the MiM:


We still have not achieved a full-ride (3:00pm –> 4:00pm) signal.  The 3:00 signal was just shy of my signal by 4% on the dollar side.   I did take a 3:20pm entry and 3:30pm based on a signal and growing imbalances.  That produced a couple of points on each.  Trades on the MiM are starting to add up for May.


If you have streaming issues, please let me know.

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):


Some downside movement toward our 109.  If we rally today up and through 1892 on the ES contract, expect more downside.

Follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:   Zweig Breadth Thrust


If we run, we have fuel to go on.


Cumulative Volume Index:


Everything in need of a breakout.

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


And the wind-up.

New Highs / New Lows ratio chart:



Bulls need to push it up.

Trenders Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 



As always, we want your feedback!

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., 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., 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.

(Visited 3 times, 1 visits today)

Leave a Reply