Tuesday, May 31, 2011

Update -data point 31 May 2011-

Trading Environment:

-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'uptick' in low expansion territory 
-Short term liquidity trend: 'uptick' in negative territory_daily inflows 'uptick' in positive territory
-Leadership stock ratio: +0.29 busllish advantage 
-New Lows: 8 < 28 danger zone < panic zone 50

Confirming weakness:

-SPX 500 'Sell' Alert 23 May 2011
-SPX 500 C-RSI 9 < C-RSI 30
-Institutional selling action_inflection point in uptrend
-VIX 15.98 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'sidewaystick'
-New Highs Trending Indicator: 88 < 180 minimum target
-NYSE_(= hft-zone)_C-RSI 30 +0.66_negative NYA-Momentum


Stocktiming.com recommend:

  •   positive intraday bias_ risk levels remain high
  • Conservative: May 16_upside potential < downside risk = 'go to cash'_May 23 'Sell' Alert
Today's Session:

hedged *1378

...the SPX 500 buckled under pressure at intraday *1345 due to incoming weak data but downticks have not done any damage (yet) to the bounce off last week's Low *1312

...if the market fails to close above the May 19 High *1347 soon, risks remain high for further near term downside to affirm the April 18 Low *1295 (possibly the March 21 Low *1282) before finding a stronger floor - trading below current *1325 confirms weakness

...a Close above *1344 would invite a bullish attempt to go for the April uptrend High *1371
Kind Regards

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