Monday, February 7, 2011

Trader Update -data point 07 February 2011-

...institutions in low level up-trending accumulation

...VIX below 15.23 signals additional bullish upside potential

Note: liquidity in high expansion territory with small downtick Friday. Leadership stock ratio a low +1.48 reading.

...the SPX 500 pushed higher today past the August 2008 High *1313 amidst supportive internals, leaving the bullish near-term outlook intact on the list of possible new highs reads current  *1328 momentum_*1332 upper channel resistance in the hourly trading set-up closing in fast on  the 75% retrace of the 2007-2009 Break_*1347 upper channel resistance  on the 6-month weekly trading set-up

Note: risk for a sharp pullback increasing near resistance levels

Kind Regards

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