Wednesday, May 11, 2011

Trader Update -data point 12 May 2011-

Trading Environment:
                                                                                                                           
-Long Term Trending Fed- and Foreign net- Liquidity Inflows _ 'downtick'_ in mid expansion territory
-Leadership stock ratio: +0.29 bullish advantage
-New Lows: 18_ < 26 - danger zone_below panic zone 50 (+)
                                                                                                                              

Confirming weakness
                                                                                                                            
-Institutional selling action_uptrend_'uptick" after three days of decreasing selling
-SPX 500 'buy' trigger March 25_C-RSI 30 +4.95 strength
-Short term liquidity trend_'downtick' into negative territory
-NYSE_(= hft-zone)_C-RSI 30 +1.64 strength_slight negative NYA-Momentum
-VIX 16.95 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'uptick'_19 New Lows
-New Highs Trending Indicator: 144 < 180 minimum target
-C-RSI 9 < C-RSI 30
                                                                                                                           
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Stocktiming.com recommend:
  • negative 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
  • index recovered from initial weakness towards near unchanged levels providing more certainty for a consolidation pattern *1329/*1350 in play.
Kind Regards

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