Trader Update -data point 17 February 2011-

...the bulls clearly dominated the 16 February 2012 market setting a new 2012 intraday High *1359.02 - unfortunately unable to drive the stake through the 3 May 2011 Top *1359.84, the index dangles precariously below the *1360 mark - denting the bullish show of strength alongside the Dow_Nasdaq companion markets which failed to surpass yesterday's intra Highs -

...the VIX story keeps repeating the bullish mantra unable to close on top of the 50-dsma current *21.47_the bearish inspired *23.44

...the markets remain heavily overbought in the long term time frame - risks remain very high an interin Top is building - portfolio protection increased to 85% *1359

Kind Regards