Trading Environment:
-Long Term Trending Fed- /Foreign net- Liquidity Inflows _ 'downtick' in low expansion territory
-New Lows: 39 > 26 - danger zone < panic zone 50 (+)
Confirming weakness
-SPX 500 'Sell' Alert 23 May 2011_C-RSI-30-1.24
-SPX 500 C-RSI 9 < C-RSI 30
-Short term liquidity trend_negative_'downtick'_daily inflows negative 'downtick'
-VIX 18.27 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'uptick'
-New Highs Trending Indicator: 79 < 180 minimum target
-NYSE_(= hft-zone)_C-RSI 30 -4.20_negative NYA-Momentum
-Leadership stock ratio: -0.24 slight bearish advantage
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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'_May 23 'Sell' Alert
Today's Session:
...Strategy: long > *1324 -stop *1316 -target *1378 (+) hedged *1378
...index still trading above the *1303/*1313 support pivot - price action remains soft after today's attempt to rebound - risk high for further slippage to pivot support around the *1300 level - possibly falling as far as *1293/*1282 before stabilizing
Kind Regards
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