redliontrader

Yesterday took a lot of wind out of the bulls and encouraged the bears to go foraging.  Breadth took a spike to the bears side, but the pricing action on charts suggest some buying in here as we trade a range.   We can kiss our Zweig Breadth Thrust good-bye.  We will finish out...
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Around the Globe Asia – CLOSED Shanghai (China) -0.76% Hang Seng (Hong Kong) -1.84% Nikkei (Japan)-0.20% Europe as of 8:02am EDT DAX (Germany) -2.91% FTSE (UK) -1.85% Today’s Economic News: Bad news out of Euro land as the manufacturing PMIs show weakness continues.   Quote of the day: Personally I’m always ready to learn,...
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Well, our Zweig is struggling and we are now modeling in a correction back down to the 40 area before a buying resumption in the market. Our charts are mixed today and the CVI sums it up the best with a divergent higher high and low.  The winner is the VIX. Our NH/NL indicator...
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Around the Globe Asia – CLOSED Shanghai (China) +1.19% Hang Seng (Hong Kong) +0.07% Nikkei (Japan)-0.28% Europe as of 7:41am EDT DAX (Germany) +0.80% FTSE (UK) +0.28% Welcome to the DAX coaster!   Today’s Economic News: News for the most part, that is the most important news, was all bull out of Europe today....
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Yesterday was a disappointment, it was a chance for the bulls to strut their stuff, but the options expiration ups and down and the worry from Europe that always somehow, just magically, seems to rear its head during OPEX through a bucket of water on the party.   We are now on Day 7...
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Around the Globe Asia – CLOSED Shanghai (China) -0.09% Hang Seng (Hong Kong) +1.03% Nikkei (Japan)-0.82% Europe as of 7:36am EDT DAX (Germany) -0.88% FTSE (UK) +0.18% Today’s Economic News: There wasn’t a ton of news today yet.  The Spanish auction went off, notice the 2 year rate compared to the French two year...
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  We are starting Day 6 in the slow spectator sport of watching for a Zweig Breadth Thrust, a rare bullish signal that occurs when the average of the NYSE A/D line moves from oversold to overbought (40 to 61.5) in a ten day period.   Yesterday’s NR7 gave us a step back, today...
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Around the Globe Asia – CLOSED Shanghai (China) +1.96% Hang Seng (Hong Kong) +1.06% Nikkei (Japan)+2.14% Europe as of 7:51am EDT DAX (Germany) -0.99% FTSE (UK) -0.37% Asia had its party but Europe has a little hangover evidently.   Today’s Economic News: Fairly good new out the UK on a light news day. Quote...
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The biggest anticipation right now is we are on the hunt for a Zweig Breadth Thrust.   Today starts Day 5 and we are already half way there, the hardest half however is the last half.  Yesterday gave us a nice gain on the count.   The next 4 days we are going to be replacing...
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Hello all, As a reminder there will not be a morning digest on Monday or Tuesday as I am out of town. I do want to do a quick email however on breadth and where we stand.   On Monday we are starting Day 3 of watching for a potential Zweig Breadth Thrust, that...
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