Tuesday, March 29, 2011

Trader Update -data point 29 March 2011-

Trading Environment:
-SPX 500  'buy' trigger March 25 _ C-RSI 30 +3.35 strength
-Institutional selling action _'selling limits' expanded_downtrend
-Long Term Trending Fed- and Foreign net- Liquidity Inflows _ 'downtick' _mid expansion
-VIX 18.93_below 20 stress level_long-term resistance 32.70_D/Vol inside range_12 New Lows
-New Lows: 12_below danger 26-zone_below panic zone 50 (+)
-NYSE_(= hft-zone)_positive strength
-Leadership stock ratio: +0.65 bullish advantage

Confirming weakness:

...abrupt liquidity pull-back yesterday

Stocktiming.com recommend:

mixed intraday bias

Today's Session:

...the SPX 500 tries to recover from yesterday's liquidity drain, albeit with unconvincing up-tick power

...as a result, expectations of a pending top between today's *1320_the current March 3 Peak *1332 remain in place. Further out, the February Peak *1344 is unlikely to fall in a first test

...an overbought sell-off will force the index to correct into the current *1256/*1281 zone 

Kind Regards

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