Wednesday, May 18, 2011

Trader Update -data point 18 May 2011-

Trading Environment:

                                                                                                                           
-Long Term Trending Fed- /Foreign net- Liquidity Inflows _ sidewaystick'_ in mid expansion territory
-SPX 500 'BUY' Alert 25 March 2011_C-RSI-30 +1.63
                                                                                                                              

Confirming weakness
                                                                                                                            
-Institutional selling action_'uptick' in uptrend

-Short term liquidity trend_negative_'sidewaystick'_daily inflows 'uptick'
-NYSE_(= hft-zone)_C-RSI 30 -1.35 strength_neutral NYA-Momentum
-VIX 17.55 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'downtick'
-New Lows: 42 > 26 - danger zone < panic zone 50 (+)
-New Highs Trending Indicator: 105 < 180 minimum target
-Leadership stock ratio: -0.02 neutral
SPX 500 C-RSI 9 < C-RSI 30
                                                                                                                           
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Stocktiming.com recommend:
  • negative intraday bias_potential attempt to stabilize markets again today
  • Conservative: upside potential < downside risk = 'go to cash' although market may continue higher before a major top
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Today's Session:
  • expecting trading > *1344 to *1360 into target *1396 (+)/*1429 upper resistance
  • weakness trading Close < *1330
...Strategy: long > *1324 -stop *1316 -target *1378 (+)

...liquidity inflows matched outflows yesterday - higher liquidity inflows necessary today

...market posting a steady, cautious recovery from the May 17 Close *1329 on good breadth and volume - although upticks from the May 17 Low *1319 remain unimpressive so far, expectations are, *1319 will remain in place as the base for a solid rally - to break above trendline resistance current *1363 - challenge current *1396 before heading into upper channel resistance current *1430 - risks increasing for index forming a sudden top above *1396

Kind Regards

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