Wednesday, May 25, 2011

Trader Update -data point 26 May 2011-

Trading Environment:
                                                                                                                            
-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'sidewaystick' in low expansion territory 
-New Lows: 36 > 28 - danger zone < panic zone 50
                                                                                                                            


Confirming weakness
                                                                                                                            
-SPX 500 'Sell' Alert 23 May 2011_C-RSI-30 -0.46
-SPX 500 C-RSI 9 < C-RSI 30
-Institutional selling action_'sidewaystick' in uptrend

-Short term liquidity trend_negative_'sidewaystick'_daily inflows negative 'uptick'_positive divergence
-VIX 17.07 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'downtick'
-New Highs Trending Indicator: 64 < 180 minimum target
-NYSE_(= hft-zone)_C-RSI 30 -2.25_negative NYA-Momentum
-Leadership stock ratio: -0.06 very low bearish advantage
                                                                                                                             

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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:

hedged *1378

...another weak start due to unimpressive data but evidence of a stabilizing market mounting - now the market needs to clear *1324 into a Close to reach out towards the current *1339 resistance just below the February High *1344 - below *1324 risk remains high for further near term weakness to affirm *1295/*1282 to establish a stronger base
...a Close above *1344 would invite a bullish attempt to go for the April uptrend High *1371

Kind Regards

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