Trading Environment:
-SPX 500 remains in Up-condition with positive C-RSI 30 +5.97 strength
-Long Term Trending Fed- and Foreign net-Liquidity Inflows 'weakening' in high expansion territory
-New Lows: 15 remain below danger 26-zone
-Leadership stock ratio: +0.28 positive bullish advantage
-Leadership stock ratio: +0.28 positive bullish advantage
Confirming weakness:
-C-RSI 9 below C-RSI 30 _ C-RSI 4 below C-RSI 9
-VIX Close 21.01 above 20 resistance signals increasing market stress_D/Vol sideways conflict
-Institutions in low Distribution (close to test bull market support in 'Core')
-the Saudi 'Day of Rage' proposed at March 11 -a potential negative spike event ahead-
SPX 500 up-condition in dangerToday's Session:
...the S9X 500 trading in positive territory to intraday High *1314 just above the August 2008 Peak *1313. The market so far manages to consolidate some of yesterday's losses above short term *1303 support, but selling into strength appears in today's internals at present
...above short term *1303 support, the current bounce appears determined enough to test the February 27 High *1319_February 23 High *1322_*1325 congestion before exhaustion sets in
...however, below March 1 High *1332, risk is high for a subsequent down draft that would target lower channel support current *1292 in the dly. 6-mth. trading setup_February 1 Low *1286_ potential to spike down to January 30 High *1275
...a successful defense of *1292/ *1286/*1275 should provide the foundation for another rally into June with upper channel resistance current *1379 in the dly. 6-mth. trading setup; potential to reach out to hit a *1420 measured objective
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