Trader Update -data point 11 May 2011-

Trading Environment:

                                                                                                                           

-Long Term Trending Fed- and Foreign net- Liquidity Inflows _ 'uptick'_ in mid expansion territory

-Short term liquidity trend_'uptick' into positive territory
-SPX 500 'buy' trigger March 25_C-RSI 30 +8.65 strength_C-RSI 9 > C-RSI 30
-NYSE_(= hft-zone)_C-RSI 30 +5.73 strength_slight positive NYA-Momentum

-Leadership stock ratio: +1.41 bullish advantage
-New Lows: 14_ < 26 - danger zone_below panic zone 50 (+)
                                                                                                                              

Confirming weakness

                                                                                                                            

-Institutional selling action_uptrend with decreasing selling last three days

-VIX 15.91 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'downtick'_16 New Lows

-New Highs Trending Indicator: 174 < 180 minimum target

                                                                                                                           

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Stocktiming.com recommend:

• positive to mixed intraday bias

• Conservative: holding long position

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Today's Session:

• expecting trading > *1344 to *1360 into target *1388 (+)/*1420 upper resistance
• weakness trading Close < *1330

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

• index appears to settle into expected consolidation pattern *1329/*1360; if so, *1329 should not be violated on a Close basis for an eventual break above *1360 into upper channel resistance *1420; risk of sudden top forming above *1388
  

Kind Regards