Trading Environment:
-Long Term Trending Fed- /Foreign net- Liquidity Inflows _ 'downtick' in mid expansion territory
-SPX 500 'BUY' Alert 25 March 2011_C-RSI-30 +2.23
-Leadership stock ratio: +0.20 slight bullish advantage
-New Lows: 21 < 26 - danger zone < panic zone 50 (+)
Confirming weakness
-Institutional selling action_'uptick' in uptrend
-Short term liquidity trend_negative_'sidewaystick'_daily inflows 'downtick' into negative
-VIX 17.43 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'uptick'
-New Highs Trending Indicator: 118 < 180 minimum target
-SPX 500 C-RSI 9 < C-RSI 30
-SPX 500 C-RSI 9 < C-RSI 30
-NYSE_(= hft-zone)_C-RSI 30 -0.63 strength_slight negative NYA-Momentum
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Stocktiming.com recommend:
Stocktiming.com recommend:
- negative to mixed intraday bias_very high risk levels
- Conservative: May 16_upside potential < downside risk = 'go to cash' although market may continue higher before a major top
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 (+) hedged *1378
...index still trading above the *1303/*1313 support pivot with today's New Lows 40 so far avoiding the 50 (+) panic selling level
...appears a strong double bottom is in the making on the longer term weekly time frame with the *1300 pivot support as inflection point
...respecting pivot support around the SPX 500 *1300 level should set a strong foundation to propel trading above trendline resistance current *1366 - challenge current *1399 before heading into upper channel resistance current *1432 - risks increasing for index forming a sudden top above *1393
Kind Regards
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