15% Hedged: *1200
Trade: buy *1124 Target: *1258 Stop: *1089
...the SPX 500 drifting moderately higher - extending the rally from the October 4 Low *1075 - market internals improving:
-Long Term Trending Fed. Liquidity, Institutional Investors, and Foreign Liquidity Inflows ticking up
- Institutional Buying and Selling Trending in low accumulation
-the # of Positive Trending stocks moved into Positive territory - # of Negative Trending stocks shifted below the Equilibrium line into Negative territory
However
...risk is growing for a larger corrective shake-out ahead of the strong overhead resistance band *1200/*1230 to affirm the *1100 Psych level/*1102*1112 Congestion ahead
-the VIX currently still above the 31 minimum comfort level
-although the # of very strong stocks moved higher, level still too low to sustain the rally for much longer ahead of strong resistance levels
-Short Term, intra-day Liquidity Flows at overbought
...if the *1100 Psych level/*1102*1112 Congestion is successfully defended, the market is set to rally back into the the June 2011 Low *1258 - potential to move higher towards the 200-day MA
Kind Regards
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