Monday, July 11, 2011

Trader Update -data point 11 July 2011-

Confirming Strength:

-SPX 500 1st. July_BUY - Condition_markets over-extended
-SPX 500_C-RSI 30 +5.8 - C-RSI 9 > C-RSI 30
-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'downtick' in mid-expansion
-Institutional selling action_uptick in down trend
-Short term liquidity trend: 'uptick' in positive_daily inflows 'downtick' in positive_high risk of corrective move
-New Lows: 15 < 28 danger zone < panic zone 50
-NYSE_(= hft-zone)_C-RSI 30 +5.96_positive NYA-Momentum
-Leadership stock/Broad market stock ratio: +4.11 bullish
Confirming Weakness:
-VIX 15.94 > 15.23 support < 20 stress level_long-term resistance 24.65_D/Vol 'uptick'
-New Highs Trending Indicator: 131 < 180 minimum target

---------------------------------- recommend:
Traders: mixed intraday bias_over-extended markets
Conservative: remain in Cash until Over-extension resolved_ despite 1st. July Buy Condition

Today's Session:

hedged *1378

...index sliced through short term support *1331 easy

...consequently, the SPX 500 bashed again today to an intraday Low *1317, just below trendline support *1319 - high risk for further slippage to affirm the 50% retracement June 23-July 7 rally *1310_including the June 22 High *1299

...a successful defense in the support would keep the push towards the May Peak *1375 alive and set the index up to take aim at the *1400 Psych Barrier 

Kind Regards

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