Wednesday, February 15, 2012

Trader Update -data point 16 February 2012-

...the 15 February 2012 SPX 500 set a new intraday congestion High *1355.87, just a fraction below the 7 July 2011 Top *1356.48 - this time round, the sell-off following the Intra High had a more vicious tone to it, but in the end, the bullish bias remains intact above the 6 February 2012 Low *1337.52  key level - despite the roll over in the daily, the hourly market now extremely oversold and some consolidation of todays losses can be expected
...the VIX penetraded the 50-dsma current *21.64 with an Intraday High *21.77, but settled well clear of  the bearish inspired *23.44 level

...despite expecting a very volatile challenge around the *1337 key support, for now, portfolio protection reduced to 50% above the 6 February 2012 Low *1337.52_below the bearish inspired *23.44 key level

Kind Regards

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