Advancing FX-Trading >>> www.lincolnfx.com: -data point 24 March 2010
www.invetrics.com:- data point 24 March 2010
(may adjust at market Open)
www.stocktiming.com: -data point 24 March 2009-
...Institutional Core Holding http://i43.tinypic.com/2ivbuwj.jpg...above resistance line/testing primary support
Trader Update -data point 24 March 2010:
...the SPX 500 trades moderately lower from yesterday's 19-mth High *1175 and appears to form an inside day signalling trend uncertainty;
-institutions still testing their primary support on the Core Index
-institutional selling http://i44.tinypic.com/29ff34o.jpg...moderately lower but still within a selling trend most likely with an uptick after today
-NYSE algorithm http://i40.tinypic.com/bildhw.jpg...positive but rolling over
-market breadth 1:2 neg -new highs increasing -uptick buying power positive -buying the dips appears ongoing
...todays drive lower appears corrective with potential for another test of March 22 Low *1153 developing; if so, an expected successful defense of *1153 would set the index up for another advance towards the yearly trendline resistance current *1177/higher into the short term upper channel resistance current *1185;
...longer term bullish targets:
-longer term upper channel resistance current *1217/*1255
...in the near term, a possible trade would be into the direction of how today's inside day will be resolved; any trading action below yearly weekly channel support *1138 would be an invitation for the bears to party;
Long Term: THE BEAR
Kind Regards