Wednesday, February 9, 2011

Trader Update -data point 09 February 2011-

...institutions continued to accumulate yesterday; close to switch to technical uptrend; but

...intraday liquidity at extremel level; and

...'Core' holding pushing the 4-sigma level (Bollinger 20-4-4)

Note: long term liquidity in high expansion territory; leadership stock ratio a low +2.60 advantage to bulls

[ 67.1% hedged ]

...the SPX trades moderately lower to intraday Low *1317 on chunky down volume. Advance/Decline ratio 1:2  and uptick power off the August 2008 Peak *1313 area subdued so far. ;Above *1313, the bullish near-term  outlook remains and signals further gains possible on the list of possible new highs reads current *1341 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

...on the flipside, a violation of *1313 would motivate the market to test the February 2 Low *1300 with potential further downside into the *1275/*1294 key support range

Kind Regards

No comments:

Post a Comment