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 (higher high ends technical downtrend)
Confirming Short Term Strength
-Leadership stock ratio higher, reading +3.48 advantage to bulls
-C-RSI 9 above C-RSI 30 _ C-RSI 4 above C-RSI 9
intraday liquidity flows at extreme levels
..the SPX 500 in striking distance of the 75% retrace of the 2007-2009 Break *1348_current *1365 upper channel resistance on the 1-yr weekly trading set-up. So far in today's session, the market continued higher - no mucking around -setting another 52-wk High *1344 intraday.
...the index now in key resistance territory, a platform from where a sharp, bearish strike may be delivered to an overly complacent trading community. The logic of a 'Lock-In profit' strategy makes sense, subject to further development. *** Bingo ***
Kind Regards
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