Thursday, May 24, 2012

Trader Update -data point 24 May 2012=

...the SPX 500 market appears to be supported at the 27 October 2011 High *1292.66:
18 May 2012 *1291.98
21 May 2012 *1295.73
22 May 2012 *1310.04
23 May 2012 *1296.52    The 200-dsma avoided falling into the abyss to continue its up-trend adding approx.0.5 points to the upside at present. Unfortunately, risks for more downside have not abated yet as the market failed so far to close back into the green safe area -better yet, inside the lower part of the  'line in the sand' oval point. However, with 404 stocks out of 500 in the negative, more downside remains a desperate push
...the VIX floated back into the trading range below the bearish inspired *23.4 and its 200-dsma returned falling again a consequence, unless the SPX 500 market pushes below the 200-dsma confirmed, long accumulation/hold with appropriate stops in the 200-dsma vicinity remain strategy

Kind Regards

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