Trader Update -data point 10 December 2012-

...the SPX 500 traded past its *1416 pivot to close the 7 December 2012 Trade *1418.07 following apparent support *1398.15 on the 5 December 2012 - further upside is expected for a test of the descending trend line current *1456.17 drawn off the 14 September Year 2012 High *1474.51

...the bull market continues to limp along - just- and hangs on by a thread at this stage

Kind Regards

Trader Update -data point 29 November 2012-

...following script, the push into the *1400 resistance followed base building apparent in the *1380/*1390 congestion range - the 28 November 2012 index traded higher intraday *1409.84 accumulating off *1385.43, just ticks above current 200-dsma *1384.09
...as a result, further upside is expected to challenge the 50-dsma current *1423.36 as a minimum with view to test descending trend line current *1459.87 drawn off the 14 September Year 2012 High *1474.51

Kind Regards

Trader Update -data point 22 November 2012-

...initial decisive action on 20 November 2012 *1390 pushed the price below its 200-dsma, but the market supported *1377.04 and drove the index back into the *1380/*1390 congestion range with a *1387.81 Close just below the *1390 Psych barrier
...todays Close *1391.03 is not exactly awe inspiring since the intraday High *1391.25 still sits below the 9 November 2012 High *1391.31 and the 30 July High *1391.74 - however, viewed in conjunction with long term trending Fed. Liquidity_Institutional Investors_Foreign Liquidity Inflows extending in expansion territory, todays Close keeps a short term bullish bias alive and well

...as a result, base building in the *1380/*1390 congestion range signals the markets resolve to push the index further up into the *1400 resistance zone with a view to challenge the 50-dsma current *1426.80 - to keep this outlook alive, *1377.04 needs to hold - a violation of *1377.04 signals weakness ahead and a Close below *1365 and the mouse is dead

Kind Regards

Trader Update -data point 16 November 2012-

...the SPX 500 now entered the July 2011 *1350 support range with 81% of very strong stocks negative and a 200-dsma on the verge of breaking negative as well a 10% correction so far from the *1470 Top - intraday trading shows accumulation around the 2011 July Highs

...as a result, good potential for a short term bounce off support for another challenge of the March 8 2012 *1365.45 Low which could lead to a renewed challenge of the 200-dsma current *1382.00 if successful - reclaiming of the 200-dsma would indicate, the market is seriously considering ending the current correction
-on the flip side, failing *1365 straight or the 200-dsma, introduces high risk into the market for more downside to the *1300 level at a minimum

Kind Regards

Trader Update -data point 9 November 2012-

...as expected, the SPX500 testing its 200-dsma closing *1377.51 below current *1380.71

...as result, high risk of further downside with an immediate *1316 target after a potential rebound off its 200-dsma stops short at swing pivot *1410

Kind Regards

Trader Update -data point 5 November 2012-

...following a second failed challenge of its 50-dsma, the index closed weak *1414.20 below first line strong support *1427
while Long Term Trending Fed. Liquidity_Institutional Investors_Foreign Liquidity Inflows remained net positive, the SPX 500 long term strength is negative_down trending

...as a result, the index remains mired in weakness below its 50-dsma, but above *1400, potential for further short term upside moves remain - the index remains in a high risk condition for a break below the *1400 support

Kind Regards

Trader Update -data point 23 October 2012-

...the SPX 500 index closed at *1433.82, a fraction below its (still) rising 50-dsma current *1434.03 after bouncing off the 2 April 2012 High *1422.38 with a intraday Low *1422.06 in late trading - the violation of the 2 April 2012 High *1422.38 causes concern as institutional investors remain stubbornly sitting at the sidelines leaving inflowing liquidity boosts in the realm of the HFT-team - the market appears likely to continue to yo-yo until the election result becomes clear or earnings motivate institutions to take the plunge and support a market featuring a below average P/E around the *14-mark

 

...as a result, Closes above the 50-dsma paint a bullish inspired scenario but continued rejection at this point will see the trade delve deeper into the green zone with potential of a 200-dsma current *1373.90 challenge

 

Kind Regards