Open the doors $ES_F 1862 x 1891

Commentary, MiM, S&P 500

Featured Breadth Chart of the DayNyah-Nyah


New highs are not there, we only did 81.  I think we continue to bleed out momentum to what is already a sluggish market that is biased to drift higher.   We think some lower level testing might make more sense from here.

Quote of the Day:
There is no cure for birth and death save to enjoy the interval.
–George Santayana

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

Short: 1891
Long:  1862


Here’s my deal.  The super trading range is 1913 x 1841… I expect us to stay in that box for a while.   For today, 1891 looks to be a reasonable spot to look for a drop. I don’t really have a long spot, maybe 1880.  The breadth and A/D line are flailing and bull markets need leadership and leadership is usually revealed at lower prices.  We still favor the downside.

On the MiM:


Nothing on the MiM as we had a decently volatile close, but the MiM was all over the place and never really triggered one way or another and it left me sidelined watching the give and take.

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
5/13/2014 Long   0.26 0.20
Total   4.99 4.22 2.70


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

Comments about TLT (Twenty year Bond ETF):


Wrong way TLT…  Looing for 114 now on the upside.. One of these markets (either equities or bonds) is not going to sustain.

Follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:   Zweig Breadth Thrust


This kind of action almost always resolves lower.


Cumulative Volume Index:


No new high here.

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


Lackluster follow through.

New Highs / New Lows ratio chart:



That ain’t the 90s.

Trenders Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 


So come on in and let me know if it works.

go to and click on” Sign Up”.  That should get you in and give you a password.  There is still work to do but any shakedown you can provide will be appreciated.

I am sharing my charts and also the MiM this afternoon at 3pm so you can see that in action, too.

Hope to see you in the room (remember – Chrome or FireFox only!).


As always, we want your feedback!

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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