Thursday, May 19, 2011

Trader Update -data point 19 May 2011-

Trading Environment:

                                                                                                                           
-Long Term Trending Fed- /Foreign net- Liquidity Inflows _ 'uptick'_ in mid expansion territory
-SPX 500 'BUY' Alert 25 March 2011_C-RSI-30 +4.18
-Leadership stock ratio: +0.20 slight bullish advantage
-New Lows: 21 < 26 - danger zone < panic zone 50 (+)
-NYSE_(= hft-zone)_C-RSI 30 +1.001 strength_slight positive NYA-Momentum
                                                                                                                            

Confirming weakness
                                                                                                                            
-Institutional selling action_'downtick' in uptrend

-Short term liquidity trend_negative_'uptick'_daily inflows 'uptick'_close to positive
-VIX 16.23 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'downtick'
-New Highs Trending Indicator: 108 < 180 minimum target
SPX 500 C-RSI 9 < C-RSI 30
                                                                                                                           
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Stocktiming.com recommend:
  • positive to mixed intraday bias
  • 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 *1398 (+)/*1430 upper channel resistance
  • weakness trading Close < *1330
...Strategy: long > *1324 -stop *1316 -target *1378 (+)

...above *1334, the rally up from  May 17 Low *1319 remains on track to break above trendline resistance current *1368 - challenge current *1401 before heading into upper channel resistance current *1434 - risks increasing for index forming a sudden top above *1396
Kind Regards

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