Trader Update -data point 15 June 2011-

Confirming Strength:

-New Lows: 23 < 28 danger zone < panic zone 50
Confirm Weakness:

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

-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'uptick' in contraction

 

-Institutional selling action_decreased selling_downtrend needs confirmation

-Short term liquidity trend: 'uptick' in negative_daily inflows 'uptick' in negative

-VIX 18.26 > 15.23 support < 20 stress level_long-term resistance 32.70_D/Vol 'downtick'

-New Highs Trending Indicator: 23 < 180 minimum target

-NYSE_(= hft-zone)_C-RSI 30 -4.85_negative NYA-Momentum
-Leadership stock ratio: -1.07 bearish advantage

----------------------------------

Stocktiming.com recommend:

• negative to mixed_oversold intraday bias _risk of high volatility 
• Conservative: May 16_upside potential < downside risk = 'go to cash'_May 23 'Sell' Alert

-----------------------------------

Today's Session:

hedged *1378 - adding long positions slowly





...failure below current *1298/*1301 resistance will re-instate high risks for more downside to challenge current *1259 support with the 200-day MA *1251 within range - possibly extending down to current *1240 

...a successful defense in the support range *1259/*1251/*1240 would be the basis for an immediate recovery with the June 1 High *1348 an initial target

Kind Regards