Featured Breadth Chart of the Day:
We will do the New Highs/Lows again for our chart of the day. The bulls have settled it down, now it is time to grind it ever higher, just a few at a time.
UK Prime Minister Cameron should take a congratulatory selfie. Excellent numbers from the island nation today. In the US it is housing and capacity. We will also be checking in to see how the fine people in Michigan feel. Those last numbers come post market so don’t get caught the wrong way round.
Quote of the Day:
If misery loves company, misery has company enough.
–Henry David Thoreau
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
We are sticking with our 1849 with some expectation that 1854 is in sight. We will have to see how it works itself into the close, but breadth continues to point us higher for now. A break of 1826 will signal a counter move for us.
On the MiM:
It was what I call a Christmas MiM, both red and green at the same time. That of course kept me out of a trade, but I see you could have been right either way for a couple of points. Today is Friday and I expect we just might see some money go to work here. Worth checking out the MiM around 3pm ET today.
We are just a week away from another MrTopStep boot camp, a unique opportunity to spend an immersive period learning how the IM Pro room trades. There are still some seats open and you will get direct access to me and trading the MiM. Click on boot camp to signup.
If you have streaming issues, please let me know: email@example.com
|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
* – NFP Day before and day of.
** – New Year’s Eve / End Of Year
If you want to join the meter readers you can go to: Join the MiM
Comments about TLT (Twenty year Bond ETF):
We are going to be interested in shorting the 105.50 area. We remain bearish overall for bonds.
>>> You can follow me on Twitter @redliontrader <<<<<
Breadth Charts in Full:
Zweig Breadth Thrust
Market has found a little gap up this AM. Let’s see if the bulls can advance it today.
Cumulative Volume Index:
All about the open today.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
New Highs / New Lows ratio chart:
You know we love the 90s.
Short Term Trender - McClellan Summation Index:
Long Term Trender - Cumulative 4-week Highs – Lows (the fat lady):
Marc Andreessen, founder of Netscape and Internet pioneer and venture capitalist, weighed in over the last few days on his thoughts on NSA spying. I have to say, I found someone who felt the same as me.
Every day there is what I can only assume is mock outrage over NSA revelations. I have to say I haven’t seen anything that I didn’t already know and I thought everyone knew. Where have the reporters been for the last 11 years?
They are listening to Merkel’s calls? The shame shouldn’t be on the U.S. but on Germany. How can that happen? And if the U.S. can listen in, don’t you think the Chinese and the Russians can too? It is embarrassing for Germany, but the newly present press gets it all wrong again.
I am not a fan of mass spying. IRS-gate and Bridgegate should show us the dangers of rogue civil servants. I am a fan of discussion and rational thinking. So let’s get over the shock, tell NSA good job but we would rather have you do this and not that and move on.
Enjoy your weekend and stay off the grid!
Thank you for Reading -
Marlin aka RedlionTrader @redliontrader
DISCLAIMER: The information and data in the following report(s) were obtained from sources considered reliable. Opinions, market data, and recommendations are subject to change at any time. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any commodities or securities. RedlionTrader.com, its officers, directors and its contributors may in the normal course of business, have position(s), which may or may not agree with the opinions expressed in this report. RedlionTrader.com, its officers, and directors are not agents, representatives, or affiliates of the CME Group or any trading entity. Trading Futures, Options, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in these report(s) will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.