trader Update -data point 29 June 2011-

Confirming Strength:

-Short term liquidity trend: 'uptick' in positive_daily inflows 'uptick' in positive

-New Lows: 19 < 28 danger zone < panic zone 50

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_merged trendline_potential for decreasing selling 

-VIX 19.17 > 15.23 support < 20 stress level_long-term resistance 24.65_D/Vol 'downtick'
-New Highs Trending Indicator: 72 < 180 minimum target

-NYSE_(= hft-zone)_C-RSI 30 -2.52_negative NYA-Momentum

-Leadership stock ratio: +0.27 neutral

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

Stocktiming.com recommend:

• mixed to positive intraday bias_strength remains negative

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

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

Today's Session:

hedged *1378

...the market will gain positive momentum above the *1303/*1313 key overhead resistance

...failure below key resistance suggests high risk for a sharp downside reversal ip challenge the March Low *1249 initially - scope to strech lower to the December 16 Low *1233 - including the November 2010 High *1227 on the downside

 

...the SPX 500 Close above the June 22 Peak *1299 sets the first line support into the *1281/*1284 range

Kind Regards