Trader Update -data point 05 May 2011-

Trading Environment:

                                                                                                                           

-SPX 500 'buy' trigger March 25_C-RSI 30 +7.23 strength
-Long Term Trending Fed- and Foreign net- Liquidity Inflows _ 'downtick'_ in high expansion territory

-New Lows: 22_danger 26-zone_below panic zone 50 (+)
-Leadership stock ratio: +0.20 bullish advantage
-NYSE_(= hft-zone)_C-RSI 30 +4.09 strength_neutral NYA-Momentum
                                                                                                                              

Confirming weakness

                                                                                                                            

 

-Institutional selling action_reversal into uptrend

-Short term liquidity trend_negative_intraday corrective rebound potential

-C-RSI 9 < C-RSI 30

-VIX 17.08_ > 15.23 support_< 20 stress level_long-term resistance 32.70_D/Vol 'uptick'_28 New Lows

-New Highs Trending Indicator: 154 < 180 minimum target

                                                                                                                           

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Stocktiming.com recommend:

• weakening bullish sentiment_uptrend under stress_C-RSI 30 > +5.00 strength

• Conservative: holding long position

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Today's Session:

• expecting trading > *1344 to *1356 into target *1381 (+)_*1412 upper resistance
• reaching into target zone_ risk of corrective shake out into *1344/*1331 congestion
• weakness trading Close < *1331

...Strategy: long > *1324 -stop *1316 -target *1378 (+) -hedged *1378-

• a successful defense of the *1344/*1331 congestion level will set up the index up into the *1400 (+) upper resistance level

...bounce off session Low *1336 - potential to test *1356/*1361 pivot

-failure in the pivot - high risk to re-test *1331 area 

-sustained trading > pivot - index on track into the *1400 (+) upper resistance level

Kind Regards