See all the people. $ES_F 1876 x 1855

Commentary, E-mini S&P 500, MiM

Featured Breadth Chart of the DayNyah-Nyah


Bounce spot.  We are looking for lower but we could just produce a decent bounce in here.  Read the ES comments below to see what I am looking for to read the next move.

It is worth noting that our trenders are bending.

Quote of the Day:
A court is a place where what was confused before becomes more unsettled than ever.
–Henry Waldorf Francis

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

Short: 1876
Long:  1855


Nice downside move, that took us 2% back from the highs, almost to the penny.   To make it easy today, there are just two levels to watch.  1876 on the high side should be a stopping point if we bounce.  If we lance through, watch out, we could see some higher action on Monday.

For you downers, watch the 1855 for a test and hold.  If it holds, we could be over the selling.  I don’t think so, there was some real selling last yesterday.  Look at the accumulative volume chart from yesterday, there was pressure getting through the exit doors.  We think after a wiggle and a wag we should see even lower prices in here, like 5 to 8% back.

Today, everything points thus far to a bounce.

On the MiM:


Nada on the MiM.  It made the chat alpha testing a bit awkward but hopefully today we will see some more action at the closing auction.  Be part of a small open house chat test, if you have a Firefox or Chrome browser let me know if you can get in to and access the MiM and hear me drone on.

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):


With the market selling, TLT is going to be under accumulation pressure. 

Follow me on Twitter  @redliontrader <<<<<

Breadth Charts in Full:   Zweig Breadth Thrust


These mid level struggles that we have had on the Zweig since the end of April almost always resolve to the downside.  Now it is a question of getting oversold, that is a reading below 40.  It usually puts up a fight getting to that level.


Cumulative Volume Index:



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


Breadth right into the selling.

New Highs / New Lows ratio chart:



Right on the bounce line.

Trenders Short Term Trender –  McClellan Summation Index:



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



Parting Shot: 


Thank you to all that came in, I appreciate the testing and help.  I have a lot of “clean up” to do this weekend, but your testing has been invaluable! Thanks.

I will have the doors in the room open  again today, so feel free to stop in and don’t be shy about typing in the comment box.  It is Friday on a potentially volatile day, so the MiM may just come into play, so come in and play!

Yesterday we opened the door and today we want to see all the people… Have a great weekend!

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 ET 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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