Friday, October 14, 2011

Trader Update -data point 14 October 2011-

 *15% Hedged: *1200

..the SPX 500 managed a new up-trend High *1125 suggesting further upside to test the August 31 2011 High *1231 - index showing early overbought on daily time frame

...although instituions currently trying a positive bias, no directional committment is apparent - the VIX now trading below the minimum 31 comfort level, but a Close below 29.5 is needed to strengthen the instituional positive bias 

...until then, risk are high that the market is near a top - a Close below the October 10 2011 congestion *1182 is needed however for confirmation

Kind Regards

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