Tuesday, September 20, 2011

Trader Update -data point 20 September 2011-

Trader Update:

Hedged *1378

...the SPX 500 again rejected *1220, unable to lock in gains ahead of the FOMC outcome - never the less, above the weekly September 11 Close *1190, the index remains on track for more upside with the August 31 High *1231 as the next overhead target

...violating the weekly September 11 Close *1190, signals weakness ahead with downside potential targeting the September weekly Low *1182 support

...any violation of the *1180 support will strenghten the view that a bear strike is underway that will attempt to take out the September 6 Low *1136 with high risk to stretch lower to test the August 27 2010 High *1066

Kind Regards

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