Trader Update -data point 21 January 2013-

 

...past the 21 December 2007 High *1475.83, Friday's *1485.98 and slightly above Thursday's *1485.16 - bullish consensus determined to tackle the 14 December 2007 High *1523.57 ahead

 

- sweet and while the break in the market continues to prepare, the short term overbought last week correcting to reach out towards the 14 December 2007 High *1523.57 ahead

- however, while the market may continue its bullish ascend towards the *1523 mark, the market is exuberantly complacent  with close to 91% stocks in positive strength

- while inflowing liquidity eats up most selling since November 2012, institutions have been sellers into the trend

...as a result, instead of holding up the basket for more to come securing the harvest for a downpour appears to make sense

Kind Regards