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mid-Week “Heads Up !” May 16, 2011

Posted by Tom in Thoughts.
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This will be a very short posting, but I feel it’s important because as of Monday (5-16-11), it appears that the markets may be changing.  A level to watch is around the 1329 point on the S&P 500 Index.  If that should break with conviction, we will likely be headed lower.

A quick look at the Direction of Accumulation (green) & Distribution (red) of stocks in the broad S&P 1500 Index is shown below.  Note: this is Direction and not the level / amount; that is still showing a rather neutral split, but it takes a few days for levels to change.  Right now (5-16-11) the Direction is toward Distribution out of stocks.  Caution and your kind attention is recommended.

Be Safe and have a good week.     (click on graphic to enlarge)

Chart used with permission from www.highgrowthstock.com; copyright 2009-11

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