Monday, February 7, 2011
Trader Update -data point 07 February 2011-
...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
...next 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