Trader Update -data point 24 March 2011-

Trading Environment:

-Institutional selling action _'selling limits' expanded_downtrend

-Long Term Trending Fed- and Foreign net- Liquidity Inflows _ 'sideways tick' _ in mid expansion

-VIX 19.17_below 20 stress level_long-term resistance 32.70_D/Vol sideways range_16 New Lows

-New Lows: 16_below danger 26-zone_below panic zone 50 (+)

-Leadership stock ratio: +0.40 bullish advantage

Confirming weakness:

-SPX 500  'sell' trigger March 15

-NYSE_(= hft-zone)_negative strength

Intraday: positive_bias

Conservative: cash

Today's Session:

...the SPX 500 pushing higher above the March 15 High *1288 to intraday *1309 into the *1305/*1316 congestion, potential upside could extend into the March Peak current *1332_the February Peak *1344

... looking ahead,  the current March Peak *1332_the February Peak *1344 resistance will be a formidable barrier from where an overbought sell-off will force the index to correct into the current *1254/*1265 zone  minimum

Kind Regards