Sunday, August 12, 2012

Trader Update -data point 13 August 2012-

...the SPX 500 market following the 11 July 2012 Low *1333.25 kept images of intense bull/bear battles alive, but never violated the 11 July 2012 Low again on a Close basis - instead went up right past the 2007-2012 fan line epic centre of resistance - currently trying to take out multiple resistance in the *1400_*1415_*1422 range with *1390 short term support. At this stage in the game, backstaged by a weak economic outlook, the market remains capped by the 3 May 2012 breakdown *1406.33 a result, above the 27 July 2012 High *1389.19 and long term trending Fed liquidity _institutional investors_foreign liquidity inflows upticking in expansion territory, the market remains motivated to trade past multiple resistance in the *1400_*1415_*1422 range with a Close past 1-year trendline resistance *1412.07 in the daily time frame another strong trigger to reach out for higher ground

Kind Regards

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