...the 26 January 2012 SPX 500 took out the 27 July 2011 High *1331.91and nibbled higher into the 26 July 2012 market with a *1333.47 High - harsh rejection (Trin: *1.91) pushed the index back for a first test of the 19 to 24 January 2012 congestion *1315 support - the intraday Low *1313.60 as well as a Close below trendline current *1320 support drawn off the 29 December 2012 Open *1249.75 increase risks for further weakness ahead - immediate attraction to the downside is the 19 to 24 January 2012 congestion including the *1306.06 Low
...so far, huge Long Term Trending Fed. Liquidity, Institutional Investors, and Foreign Liquidity Inflows kept pushing the market -deeper into overbought
...although the VIX setting new Lows, trading remains rangebound within the developing declining wedge pattern - there is a 90% chance of an upside break-out - the 23 January 2012 marks the start of the break-out window with increasing risk of the event occuring at any time
...as a result, 75% capital protection *1301 in place
Kind Regards
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