Wednesday, December 14, 2011

Trader Update -data point 14 December 2011-

...the market challenged the 5 August 2011 High *1218.11 with an intraday Low *1219.43 and settled the SPX 500 *1225.73 right on the the 21-dsma/50-dsma inflection point - luke warm support at best at inflection leaving the bears clear in the driver seat 
...volume registered distribution producing a very bearish Trin *1.79
...the VIX closed lower building on the positive divergence moving clearly below the 200-dsma with an intraday Low *23.27 to close *25.41 -still above the *24.00 level-
...the DXYO added more shades of red taking out the 5 October 2011 High *79.87 heading up into the *81.00 Double Top level a result, the developing positive VIX divergence signals expectations of higher prices ahead - the DXYO trade however shows equity markets the finger - unless, equity traders are confident enough the USD will never ever make it past *81.00 Double Top - pull backs to Closes above the 50-dsma provide favorable buying opportunities - Trade: buy *current levels Target: *1315 Stop: *1211.36 - a fully invested portfolio still in need for lower 20 - 50 (%) protection

Kind Regards  

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