Wednesday, December 14, 2011

Trader Update -data point 15 December 2011-

...the market moved the SPX 500 past the 5 August 2011 High *1218.11 down to an intraday Low *1209.47 to settle *1211.82 - Trade: buy *current levels Target: *1315 Stop: *1211.36 remains 'on' - the 21-dsma current *1223.41 crossed below the 50-dsma current *1226.24 - volume registered distribution again - the bears keep the pressure on
...the VIX spiked higher to *27.55 and closed above the program selling *26.00 threshold *26.04 - above the 200-dsma current *25.64
...with *81.29, the DXYO took out the first 1 October 2011 *80.90 Top - technicals look constructive for further advances
...the index now trades very close to the daily 1-yr trendline support current *1202.71 with the 11 October 2011 Low *1187.30 providing next logical support a result, all support points down to the 200-dsma failed to ignite accumulation - price action naturally appears to favor hugging the down line instead of bothering reaching out towards the up-line - situation most likely remaining unchanged until strong accumulation at support signals first signs of change -  a fully invested portfolio still in need for lower 20 - 50 (%) protection

Kind Regards

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