-(StockTiming.com)- data point 09 October 2009
NYSE Institutional NET Buying and Selling Volume levels
NYSE Long Term Trending Fed. Liquidity and Foreign Liquidity Inflows
NYSE M0mentum and Strength
NYSE M0mentum and Strength
Stockmarket:
...institutional accumulation should really go with a strong market advance but NYSE momentum weaker; SPX 500 mixed to higher but remains hesitant to eclipse resistance from the Sep 29 Peak *1069 and the Sep 17 Peak *1074. At these levels and due to the holiday weekend, risk is for a shallow 1-2 day corrective pullback to affirm *1047/*1051 congestion before turning north again. A successful defense of that support range should foster an additional 2-3 trading days worth of gains to retest the Sep High *1080/*1100 target range en route to a major double top. Failure in that zone will leave the market vulnerable to a 20% (+) sell-off during most of Q4 targeting a retest of the July Low * 869.
...as far as market internals goes, a bit strange; the market labours up, the direction is neutral with a tilt to the bearish side, up-volume almost matches down-volume, and advancers go almost quit pro quo with decliners;
...maybe Stocktiming.com is correct in its assertion that as Marty Chenard mentions: "If you look at the Institutional Buying & Selling chart, you can see that they have been buying less while continuing to increase their selling (profit taking). Institutional Investors have been selling slow enough for the market to absorb their selling. This is a prescription for an unusually sharp down day when the market fails to absorb the amount of Institutional selling."
-Financial Insight and daily Market Timing Signals: current posture >SPX 500 Cash -09 10 09
Long Term: THE BEAR
_no guarantees and trading strategies are just ideas_
Kind Regards
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