Monday, March 21, 2011

Trader Update - data point 21 March 2011 -

Trading Environment:
-Institutional selling action _'selling limits' expanded _downtick in uptrend
-VIX 24.44_long-term resistance 32.70_D/Vol sideways range_20 New Lows
-New Lows: 20_below danger 26-zone_below panic zone 50 (+)
Confirming weakness:

-NYSE_(= hft-zone)_negative strength
-SPX 500  'sell' trigger March 15_ C-RSI 30 -2.45 strength
-Long Term Trending Fed- and Foreign net-Liquidity Inflows _ 'uptick' _ in low expansion territory _ close to mid-expansion territory
-Leadership stock ratio: -0.16 bearish advantage

high market risk

...the SPX 500 penetrates the March 15 High *1288 setting an intraday High *1301 as part of an ongoing test of the *1300 zone. So far, the market could not push beyond the March 14 High *1303.but evidence mounts for the March 16 Low *1249 to be a potential floor in place 

...caution is still warranted backed by today's very bearish TRIN divergence suggesting a re-test of  Friday's March 18 Peak *1292 minimum before further potential upside is possible

Kind Regards

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