Trader Update -data point 02.June 2011-

Trading Environment:

                                                                                                                        
-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'downtick' into low expansion territory 

 -Institutional selling action_'uptick' in downtrend 
-Leadership stock ratio: +0.13 bullish advantage

                                                                                                                         

Confirming weakness:

                                                                                                                          -SPX 500 May 23 'Sell' Alert
-SPX 500 C-RSI 9 < C-RSI 30

-Short term liquidity trend: 'downtick' slight negative_daily inflows 'downtick' into negative

-VIX 18.05 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'sidewaystick'

-New Highs Trending Indicator: 118 < 180 minimum target
-New Lows: 38 > 28 danger zone < panic zone 50

-NYSE_(= hft-zone)_C-RSI 30 -2.46_negative NYA-Momentum

                                                                                                                             

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Stocktiming.com recommend:

•   mixed intraday bias

• Conservative: May 16_upside potential < downside risk = 'go to cash'_May 23 'Sell' Alert

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Today's Session:

hedged *1378

...penetrating the May *1312 suggests - high risk for further weakness for follow through lower to affirm the April 18 Low *1295 (possibly the March 21 Low *1282) before finding a stronger floor 

...a successful defense in the support would be the start of a consolidation period in the *1282/*1295_*1371 range that would eventually lead the index higher into the *1400 (+) current upper resistance level 

Kind Regards