Tuesday, October 4, 2011

Trader Update -data point 4 October 2011-

Trader Update:

Hedged *1378 - Exit Market

...the SPX 500 traded into striking distance of the August 27 2010 High *1066 with an intraday Low *1075 - currently on the rebound above rhe Psych *1100 level

...market in desperate need to consolidate at these levels to avoid panic - a Close above the Psych level *1100 -and holding- would be the start of a consolidation period to wear off the extreme oversold levels in the market - only 6% of unweighted positive nimber of stocks trading with positive strength remain on the SPX 500-

...assuming *1066 support holds, a bull market rally back to the June Low *1258 will be underway

Kind Regards

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