Thursday, May 17, 2012

Trader Update -data point 18 May 2012-

...the SPX 500 market broke out of the *1340/*1320 support zone making its way towards its 200-dsma (still rising but in danger of levelling out and turning down) current *1278.04 - the market needs to hold the range above the 200-dsma and consolidate with a rise back into the green support zone on a Close basis in order to set the first signal of a potential end to the downside.
...the VIX finally broke ot of its 5-mnth old trading range heading towards its 200-dsma (still sloping down) but in danger of levelling out and rising. The market is at inflection point and need to consolidate below the 200-dsma and close inside the trading range to set a more positive tone in the market.

...accumulate on the long side with responsible stops in the 200-dsma approximity.

Kind Regards

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