Trader Update -data point 15 February 2011-

...the 14 Fenruary 2012 SPX 500 market continues its sideways trade below the 9 February 2012 High *1354.32 closing above 9 February 2012 Low *1344.63 - staying well clear of the 6 February 2012 Low *1337.52 - downside price action above 9 February 2012 Low *1344.63_the 6 February 2012 Low *1337.52 failed so far to inflict any real damage to the bullish market bias - continuous liquidity inflows near the present congestion Lows has so far prevented the onset of a selling stampede

...the VIX trade briefly jolted above resistance and keeps skidding along above it but real damage so far appears to be under liquidity control unless a more serious challenge to the bullish bias arises

...a Close above the bearish inspired *23.44 level could act as the more serious challenge to the grip of a constant inflow of liquidity - below the *23.44 ceiling, a possible sideways VIX action would be unable to overcome the bullish bias in the market for some 'New Highs' to come yet

...nevertheless, the markets remain heavily overbought in the long term time frame - risks remain very high, a corrective draw down has started already or will become more meaningful in the near future - 85% portfolio protection in place

Kind Regards