Monday, December 5, 2011

Trader Update -data point 6 December 2011-

...the market opened the SPX 500 strongly and pushed the trade right past the 200-dsma current *1264.52 to the intraday High *1266.73 - a nice bullish (+22) surprise before selling settled the index (+12) to close *1257.08 - (+22) gap up Open versus (-10) sell down Close - however, the index closed (-3) below yesterday's intraday High *1260.08 
-volume registered accumulation
-the *0.55 Trin signals extreme bullishness
-unfortunately, a higher VIX Close *27.84 adds a bearish splash into the bullish painting
-institutional buy/sell trending and Long Term Trending Fed. Liquidity_Institutional Investors_Foreign Liquidity Inflows remaining neutral  -  strength remains weak a result, it is unlikely that instituitons would be major accumulators with the heavily fortified *1260 congestion/the 200-dsma current *1265.43/the 9 November 2011 High *1275.18 ahead unless the market offers cheaper incentives to accumulate - below *1247.11, risks are high for the market to force the index into confirmation drive to challenge the 10 November 2011 Low *1227.70 - potential to extend lower for a challenge of the *1215 support - potential to extend lower for a 50-dsma confirmation challenge current *1212.76 - however, pull backs to above the 50-dsma provide favorable buying opportunities

Kind Regards

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