Featured Breadth Chart of the Day:
Warning bears… The NHs/NLs have once again regained control of the 90s and our trenders teased us with bearish sentiment but have whipped back around for the bull.
3rd day, but we are super excited on the the NHs/NLs. We wanted 200 yesterday, we got 191, not bad, but we can’t keep this pace up so we need to see the markets relax just a bit.
Quote of the Day:
Restlessness and discontent are the first necessities of progress.
–Thomas Alva Edison
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
1886 was our destination from Y’day and that puts 1892 up on the board for our next target to the upside. If the market decides it needs to be punched down in order to rise again, we like 1873 as a hold area.
On the MiM:
Didn’t take long to get our first MiM signal and it came in on the buy side as money for April is being put to work. I made a couple of points off a 3pm entry but I didn’t layer in at 3:20 or 3:30pm as I didn’t see any additional growth in the direction of the imbalance.
If you have streaming issues, please let me know. firstname.lastname@example.org
|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 still. Still more lower toward 105 as money is forced out of bonds
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Breadth Charts in Full: Zweig Breadth Thrust
Despite the new highs (the S&P was the market strength yesterday) our Zweig took a stop back. I would expect some consolidation. No doubt that the trend is up, though.
Cumulative Volume Index:
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
Again, not much added as far as breadth. Yesterday, despite the new highs, was an under-the-hood consolidation day.
New Highs / New Lows ratio chart:
Trenders Short Term Trender - McClellan Summation Index:
Long Term Trender - Cumulative 4-week Highs – Lows (the fat lady):
Did I mention that I am doing a webinar a week from today on the MiM? It’s an all day affair and I am evidently one of thirteen traders. If you want to hear me stumble through a presentation and are interested in learning more about the MiM and my experiences in trading it, you can sign up here. In my struggle to find a head shot (I really don’t have a good angle), I got thinking – what about a foot shot? Why are we so hung up on head shots? I have some pretty good looking feet and even better, I have a new pair of Sloggers shoes this week to show off. If you don’t know Sloggers, they are a 100% American made brand of molded shoes, designed originally for garden work and outdoor “slogging” around. Up until recently they have just appealed to the feminine side of the population, but not anymore! No sir. We now have Sloggers for men and here I am with my best foot forward proudly wearing my American made Sloggers. No longer the exclusive domain of my wife who has had her garden pair for a while now and has done much planting and weeding in them, I am now a member of the Sloggers family. I appreciate the heel too, I need all the vertical help I can get.
There are not many shoes made domestically anymore. Maine was a huge shoe manufacturing state, all empty brick mills now. Somehow, despite the roadblocks and our war on jobs here in the US, Sloggers has figured it out and that earns them a mention today. It’s getting close to garden time, we just need to get the ground thawed, until then I will wear my Sloggers indoors, which unlike other brands of molded shoes, have a real sole and soul, and that ain’t no croc.
Happy slogging in your gardens!
As always, we want your feedback! email@example.com
Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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