Trader Update - data point 18 March 2011 -

Trading Environment:

-Institutional selling action _ 'selling limits' expanded _ downtick in uptrend

-VIX 26.37_long-term resistance 32.70 _ D/Vol sideways range_ 25 New Lows

-New Lows: 25 _ below danger 26-zone _ below panic zone 50 (+)

Confirming weakness:

-NYSE _ (= hft-zone) _ negative strength

-SPX 500  'sell' trigger March 15_ C-RSI 30 -2.30 strength

-Long Term Trending Fed- and Foreign net-Liquidity Inflows _ 'uptick' _ in low expansion territory _ close to contraction

-Leadership stock ratio: -0.89 bearish advantage

very high market risk level

Today's Session:

...the SPX 500 extended to intraday *1289 but so far, the market failed to push the retrace up past the March 15 High *1288_the *1291 level

......below the March 15 High *1288 _ current *1291 level, risk remains high for a re-test of short-term trendline support current !269_the March 16 Low *1249. Any possible, intraday down spike within this double bottom scenario should bring out buyers en masse at the current *1218 level max.   

 

,,,however, sustained trading above the March 15 High *1288 _ current *1291 signals the expected rally to retrace to current *1380/*1420 is already underway

 

Kind Regards