Featured Breadth Chart of the Day:
There’s the bounce, but can we sustain a 2nd day? The long term trender is back to bullish. This is a zombie market and the bulls need to either rally harder or the bears need to just finish them off.
Quote of the Day:
In life, as in chess, forethought wins.
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
Called for a bounce off 1830 and we have revised our high target to 1857. If that breaks and we are once again enthused we should see 1867 over the next couple of days.
On the MiM:
While the MiM was aligned on the sell side, it never got the magnitude we were looking for.
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|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
- xx:20pm exit as the signal went away.
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Comments about TLT (Twenty year Bond ETF):
We want lower, back to 105 area. Patience.
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Breadth Charts in Full: Zweig Breadth Thrust
Cumulative Volume Index:
Bounce.. can we follow through?
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
New Highs / New Lows ratio chart:
Bounce.. look for regaining the 90s
Trenders Short Term Trender - McClellan Summation Index:
Long Term Trender - Cumulative 4-week Highs – Lows (the fat lady):
Bullish.. chopping.. Bulls need to show a 2nd day.
They are back! Last night they must have flown in, as this morning they were here in the pond when I awoke. The pond is about 90% ice free now. These little ducks, Buffleheads, love cold water, very cold, like Martini cold. They will only stay here for a few weeks before the water become too warm and they fly north to find some other water on the rocks to live and eat in.
Because they are warm blooded and they live in cold water they have to eat a lot to generate the heat they are losing. They eat constantly. Diving deep and picking up plant matter from the bottom of the pond continually, night and day. I think they live more under water than above the water. That hyperactivity makes them fun to see and watch and they are part of our nature’s clock. The small hand is officially on Spring.
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Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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