Trader Update -data point 28 June 2011-

Confirming Strength:

Confirming 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_higher Low_uptrend

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

-VIX 20.56 > 15.23 support > 20 stress level_long-term resistance 24.65_D/Vol 'downtick'
-New Highs Trending Indicator: 46 < 180 minimum target

-New Lows: 37 > 28 danger zone < panic zone 50

-NYSE_(= hft-zone)_C-RSI 30 -5.59_negative NYA-Momentum

-Leadership stock ratio: +0.01 neutral

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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

...the SPX 500 extended higher to clear the June 23 congestion *1284 so far and heading towards the current *1299 (June 22 Peak)/*1303 overhead resistance - appears to roll over as short term momentum spirals away from price

...failure below this ceiling suggests high risks for more downside to challenge the March Low *1249 initially - scope to stretch lower to current *1228 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