Out like a lamb $ES_F 1864 x 1840

Commentary, E-mini S&P 500, MiM

Featured Breadth Chart of the Day:

March was pretty much defined for us in the first full week.  On Monday, March 3rd, we put in a low at 1834.44 on the S&P 500.  That defined the low for the month.  We rallied and worked hard that first week of March and put in a high of 1883.57 on the Friday.  That was topped toward the end of the month but by just 0.40, so for the most part March was just a consolidation of the first week.  


So we say goodbye to March 2014 as we start the last day of the month right smack in the middle of that 50 point range.   As the saying goes, March came in like a lion and went out like a lamb.

Quote of the Day:
Copy from one, it’s plagiarism; copy from two, it’s research.
–Wilson Mizner

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

Short: 1864

Long:  1840


Weekend close reopens today with a slight gap up as a Friday night call from Putin eased tensions in the Middle Europe.  Shots fired in the Koreas, though, to add some more tension.

For today we want to to see if the markets can continue to climb toward 1864.  If that fails, we like a downside target of 1840.


On the MiM:


The selling imbalance ceased on Friday and we saw a slowly building buy side.  It was strong only at the last minute.  March has been slow to produce.  As we noted elsewhere, March became a month long consolidation of the first trading week, a slow last three weeks.   Today is the last trading day of the month, let’s see if we do go out like a lamb.   

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
3/7/2014 Long N/E 0.99 1.810
3/17/2014 Long 0.49*
3/19/2014 Long 4.87 2.91
3/20/2014 Long 0.84 1.69 3.51
3/25/2014 Short -1.85 (3:30x) 0.83(3:30X)
Total   -1.01 8.40 8.22
  • xx:20pm exit as the signal went away.

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

Comments about TLT (Twenty year Bond ETF): image

We have traveled a bit higher than we wanted at that 109.75.  We want this region to become a turning point for a series of weaker downside moves starting in April.

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Breadth Charts in Full:   Zweig Breadth Thrust


Still sideways.

Cumulative Volume Index:


Putting in a bottom here?


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


Little bounce in breadth.

New Highs / New Lows ratio chart:


Back to the 90s.  That should scare the bears right now.

Trenders Short Term Trender –  McClellan Summation Index:



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


Neutral!  Make your mind up, fat-lady.

Parting Shot: 


I love talent.  I love people that use their talent.  I really like people that share their talent.  Getting on a bus and playing every night in New England is a tough way to make a living,  not as hard as Gwenyth Paltrow’s life, but still pretty tough.

Crystal Bowersox, runner-up on American Idol #9, was in Ogunquit, Maine last night and my wife and I did a rare Sunday night out venture to hear what has become of one of our favorite contestants the show has discovered.    Unlike so much trash that these reality shows find, every once in a while some gems are panned and Crystal has really panned out.  A great soulful singer, a fantastic song writer and an engaging performer.    Crystal did a four song acoustic set without her band, just her, her guitar, her voice and her songs.  That is really laying it on the line.  You have to be deep and good in all areas and she did not disappoint. 

I really enjoy the small venues and the ability to talk post show and interact with these artists.  I am envious of them and I know if I had any of their talents, I would most likely keep it to myself for my own entertainment.

Great signer, great songwriter, great players & entertainer with a great band.  A good time was had by all.  Check our her tour and if she is in your area, take in the show… you won’t be disappointed.

Thank you Crystal & band for being willing to share, all the way up here in Maine during a long cold spring.

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

Thank you for Reading – Marlin aka RedlionTrader @redliontrader

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