Monday, December 12, 2011

Trader Update -data point 13 December 2011-

...the SPX 500 extended its corrective shake-out to an intraday Low *1227.25 just a notch above the 21-dsma current *1227.18 and closed *1236.47 just above the 3 August 2011 Low *1234.56 - potential to extend lower to challenge the 50-dsma current *1221.95 - potential to extend lower to challenge the 5 August 2011 High *1218.11
...the VIX closed lower *25.69 setting a positive divergence with a 200-dsma challenge current *25.57- pull backs to Closes above the 50-dsma provide favorable buying opportunities

...the USD-index remains a Red Flag to the market as well as continuous weakness in the Chinese market

Kind Regards

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