After nine days in the desert, time to set the horse free $ES_F 1811 x 1798
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:
Short: 1811
Long: 1798
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.
>>> Follow us @redliontrader<<<<<
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.
Trenders :
Short Term Trender - McClellan Summation Index:
Neutral.
Long Term Trender - Cumulative 4-week Highs – Lows (the fat lady):
Bullish.
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.
Hosting and Newsletter service provided by: