Trader update -data point 30 November 2011-

.the 29 November 2011 market:
-opened *1192.56
-bulls (+10) High *1202.67
-bears (-1) Low *1191.80
-index closed in day's low range *1195.19
-the market rejected an initial attempt to trade past the 50-dsma current *1205.51

-volume accumulation compared to the 9 August 2011 and 4 October 2011 Lows -disappointing-

-the VIX Close *30.64 remains above the minimum safety indication for sustainability *30.16

...as a result, although the index remained in positive territory adding a (+3) -extension to the 28 November 2011 up-move off *1158.67 - low volume so far and a VIX above the *30.16 safety level builds the up-move on shaky ground - high risks for failure remains below the weekly trendline resistance current *1214.18 that would motivate the market for a second test to confirm the 28 November 2011 up-move level *1158.67 - potential to reach lower to challenge the *1136 strong support hold - a successful challenge of the *1136 level should provide the building blocks for the continuation of the SANTA rally into year end 2011

Kind Regards