Trader Update -data point 20 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 +4.84

-Leadership stock ratio: +032 slight bullish advantage

-New Lows: 18 < 26 - danger zone < panic zone 50 (+)

-NYSE_(= hft-zone)_C-RSI 30 +1.64 strength_slight positive NYA-Momentum

                                                                                                                              

Confirming weakness

                                                                                                                            

-Institutional selling action_'downtick' in uptrend_potential intraday reversal

-Short term liquidity trend_negative_'uptick'_daily inflows 'uptick'_positive
-VIX 15.52 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'sidewaystick'

-New Highs Trending Indicator: 142 < 180 minimum target
SPX 500 C-RSI 9 < C-RSI 30

                                                                                                                           

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Stocktiming.com recommend:

• negative 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 *1396 (+)/*1429 upper resistance
• weakness trading Close < *1331

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

...above *1331, the uptrend from the May 17 Low *1319 should continue to push higher 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