Featured Breadth Chart of the Day
Had been feeling bearish, until I saw the NHs/NLs are back in the 90s. That is the bullish setting. It needs to hold there today or even advance for the bulls.
Quote of the Day:
I am not a vegetarian because I love animals; I am a vegetarian because I hate plants.
–A. Whitney Brown
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
We have set up a 10 point range today. That is tight for us. Above 1886 and the bulls are back driving the bus. Below 1876 and our premise that we are going to garner strength by going lower should be in play. We are on the fence in here and maybe a day of price action will help clear it up.
On the MiM:
No signal on the MiM. We are looking for a follow up sell signal to convince ourselves we are going lower.
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|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
|5/8/2014||Long||3.11 (xx:40)||1.24 (xx:40)||—|
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Comments about TLT (Twenty year Bond ETF):
At what level will this break?
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Breadth Charts in Full: Zweig Breadth Thrust
Time to see some selling soon.
Cumulative Volume Index:
Still a lot of nothing.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
New Highs / New Lows ratio chart:
Oh no! Watch out bears, the bulls are running in the 90s again
Trenders Short Term Trender – McClellan Summation Index:
Long Term Trender – Cumulative 4-week Highs – Lows (the fat lady):
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Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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