Tuesday, January 31, 2012

Trader Update -data point

...the SPX 500 continues to consolidate below the recent 26 January 2012 *1333.47 High - downside price action off *1333.47 remains considered but a string of lower Closes and a bearish bias in the market suggests a continuation into a corrective drive
...daily price rolls over gently pointing down to the 27 October 2011 High *1292.66 support and with todays Trin: *1.38 leaves the bears in charge

...the NYSE dvol ticks up above resistance while an institutional selling uptrend redflags the current market
stocktiming.com: ...strong stocks and FTL(follow the leader/very strong)-stocks so far dropped 69.3% off the 19 January High *228 - suggests Mutuals, Hedges, Institutions won't keep buying at higher prices when the underlying stocks are not increasing their sales and profits at the same rate - combined with a stop in inlowing liquidity sets the market at high risk of a precipitous drop
...the VIX remains trading within the descending wedge

...as a result, portfolio protection remains set *75% in a market trading below the 23 January 2012 High *1322.28 on a Close basis

Kind Regards

No comments:

Post a Comment