...the SPX 500 market testing critical support in the *1330_*1340 range bouncing off an intraday Low *1333.25 to close in the upper support level *1340 range - the bullish advance starting 25 June 2012 off the *1309.27 Low and confirmed 28 June 2012 off the *1313.29 has basically run out of leeway on the downside with today's intraday Low *1333.25 - the bulls need to show their hands now and keep the index from slipping any further into the red zone to avoid concerted bearish action on the short side
...the VIX Close *17.95 barely keeps a bullish tone in the equity markets alive with its 50-dsma already rising
...long term trending Fed. liquidity_institutional investors_foreign liquidity inflows back into upper contraction territory, but still technically uptrending
...as a result, another violation of today's intraday *1333.25 would indicate further weakness and motivate the market to challenge the 28 June 2012 Low *1313.29 at a minimum
Kind Regards
...off into THE WILD MIND till 6 August 2012
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