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
-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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