Confirming Strength:
-Institutional selling action_'uptick' in short term downtrend
Confirming 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
-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'downtick' in contraction
-Short term liquidity trend: 'uptick' in negative_daily inflows 'downtick' in positive
-VIX 19.29 > 15.23 support < 20 stress level_long-term resistance 24.65_D/Vol 'uptick'-New Highs Trending Indicator: 38 < 180 minimum target
-New Lows: 49 > 28 danger zone < panic zone 50
-NYSE_(= hft-zone)_C-RSI 30 -5.4_negative NYA-Momentum
-Leadership stock ratio: -0.10 neutral
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Stocktiming.com recommend:
- mixed to negative 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
...potential for very volatile day_including a short squeeze attempt to push the market higher
...the SPX 500 jibed through the 15 June congestion *1281 third time but remains supported above the 200-day MA *1262 with an intraday Low *1270 so far
.....below *1281 suggests high risks for more downside to challenge the March Low *1249 initially - scope yo stretch lower to current *1230 support_December 16 Low *1233 - including the November 2010 High *1227 on the downside
...a successful defense in the support range *1249/ *1233/*1227 would be the basis for an immediate recovery with the June 1 High *1348 an initial target
Kind Regards
Today's Session:
hedged *1378
...potential for very volatile day_including a short squeeze attempt to push the market higher
...the SPX 500 jibed through the 15 June congestion *1281 third time but remains supported above the 200-day MA *1262 with an intraday Low *1270 so far
.....below *1281 suggests high risks for more downside to challenge the March Low *1249 initially - scope yo stretch lower to current *1230 support_December 16 Low *1233 - including the November 2010 High *1227 on the downside
...a successful defense in the support range *1249/ *1233/*1227 would be the basis for an immediate recovery with the June 1 High *1348 an initial target
Kind Regards
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