Today’s Economic News:
Not much here as far as economics are concerned, pending home sales in the USA.
Quote of the Day:
The quest for riches darkens the sense of right and wrong.
–Antiphanes, ancient Greek dramatist
Featured Breadth Chart of the Day:
Zwieg narrowing in.
Comments and Levels for the Front ES (S&P500 – Emini futures) contract:
Friday gave us a breakout to the upside, putting the bulls further in control. I was up late last night watching the Patriots comeback so I will make today short and sweet. For the upside we are targeting 1811 and our downside for today is 1798.
On the MiM:
There is no snapshot for Friday due to someone not turning that feature on in the new release, but it is not like we missed anything as the MiM was totally neutral, moving back and forth a couple of times.
If you want to join the meter readers you can go to: Join the MiM
Comments about TLT (Twenty year Bond ETF):
Looking for 103.50 to hold and 104.25 to be touched.
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Breadth Charts in Full :
Zweig Breadth Thrust:
Bulls did a good but they still need to Zwieg up and get this indicator into the upper 50s.
Cumulative Volume Index:
Bearish divergent that an up market today will fix.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
Again here, a bearish divergence that could be satisfied today.
New Highs / New Lows ratio chart :
This needs to improve for the bulls.
Short Term Trender - McClellan Summation Index:
Long Term Trender - Cumulative 4-week Highs – Lows (the fat lady):
Thank you for Reading -
Marlin aka RedlionTrader @redliontrader
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