Friday, June 10, 2011

Trader Update -data point 14 June 2011-

Confirming Strength:

Confirm Weakness:
-SPX 500 May 23 'Sell' Alert
-SPX 500 C-RSI 9 < C-RSI 30
-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'downtick' in contraction
 
-Institutional selling action_'sidewaystick' in uptrend

-Short term liquidity trend: 'downtick' in negative_daily inflows 'uptick' in negative_oversold
-VIX 19.61 > 15.23 support < 20 stress level_long-term resistance 32.70_!D/Vol 'downtick'!
-New Highs Trending Indicator: 19 < 180 minimum target
-New Lows: 81 > 28 danger zone > panic zone 50
-NYSE_(= hft-zone)_C-RSI 30 -8.6_negative NYA-Momentum
-Leadership stock ratio: -2.78 bearish advantage

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Stocktiming.com recommend:
  • negative to 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 - adding long positions slowly



...the SPX 500 in for corrective treatment off the June 13 Low *1266 with a challenge of the June 3 Low *1298 overhead resistance the next likely target - impulsiveness still missing - any weak trading behavior below current *1298/*1301resistance will re-instate high risks for more downside to challenge current *1262 support with the 200-day MA *1251 within range - possibly extending down to current *1243  

...a successful defense in the support range *1262/*1251/*1243 would be the basis for an immediate recovery with the June 1 High *1348 an initial target

Kind Regards

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