Trader Update -data point 08 February 2011-

...institutions increasing accumulation

...institutional 'Core' holdings pushing to extreme 4-sigma level (Bollinger 20.4.4)

Note:  one way or another, balance is re-established over time

...the SPX 500 managed another 52-week High *1323 remaining comfortably above the August 2008 High *1313; above *1313, the bullish near-term  outlook remains and signals further gains possible

...next on the list of possible new highs reads current *1337 upper channel resistance in the hourly trading set-up closing in fast on  the 75% retrace of the 2007-2009 Break *1348_*1347 upper channel resistance  on the 6-month weekly trading set-up

Note: risk for a sharp pullback increasing near resistance levels

Kind Regards