Trader Update -data point 10 May 2011-

Trading Environment:

                                                                                                                           

-Long Term Trending Fed- and Foreign net- Liquidity Inflows _ 'uptick'_ in mid expansion territory
-SPX 500 'buy' trigger March 25_C-RSI 30 +6.37 strength

-Leadership stock ratio: +0.58 bullish advantage
-New Lows: 14_ <26-zone_below panic zone 50 (+)
                                                                                                                              

Confirming weakness

                                                                                                                            

-Institutional selling action_uptrend with decreasing selling last two days

-Short term liquidity trend_'uptick' in negative territory

-C-RSI 9 < C-RSI 30

-VIX 17.18_ > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'uptick'_14 New Lows

-New Highs Trending Indicator: 116 < 180 minimum target
-NYSE_(= hft-zone)_C-RSI 30 +3.63 strength_slight negative NYA-Momentum

                                                                                                                           

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Stocktiming.com recommend:

• mixed to positive intraday bias

• 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 < *1329

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

• liquidity inflows improved further and the index appears to settle into a consolidation pattern with parameter limits *1329/*1360 - a break above *1360 is expected to propel trading into upper channel resistance current *1418 - higher risk of a top forming above *1388 (+)

Kind Regards