Thursday, February 17, 2011

Trader Update - data point 17 February 2011 -

Long Term Trading Environment:

-the SPX 500 remains in very strong bullish territory
-Long Term Trending Fed. Liquidity and Foreign Liquidity Inflows in High Expansion Territory
-Institutions increasing accumulation

Confirming Short Term Strength:

-Leadership stock ratio higher, reading +2.78 advantage to bulls
-C-RSI 9 above C-RSI 30 _ C-RSI 4 above C-RSI 9

...obviously, it wasn't the majority of investors that got irritated by weak employment numbers and consequently headed for the exits in the opening session today. Fact is, in a financialized economy, falling employment is Wall Street's icing on the cake

...after opening the session down to intraday *1331, the SPX 500 currently pushing to knock the February 14 High *1338 flat with market internals constructive

...beyond *1338, the index will tack higher towards the 75% retrace of the 2007-2009 Break *1348_current *1363 upper channel resistance  on the 1-yr weekly trading set-up

...however, as the index approaches key resistance in the 1-yr wk trade setup. the market becomes highly vulnerable to a bearish shake-out

Kind Regards

No comments:

Post a Comment