S&P 500 – July 28, 2011

S&P has been showing signs of structural weakness these past couple of days. If you remember it was structural weakness that led us to the last drop.

Market Time Premium's Market Alignmnet Index (MAI) looks like it is about to roll over both weekly and daily

We have had two uptrend since the May high and none of them has been able to lift and saturate MAI. Also, OEW indicator has been making lower high meaning that less number of stocks have been uptrending with index from one mid-term trend to another. That is not structurally constructive

Buyers are needed urgently or current mid-term uptrend may be is serious trouble

Buyers are needed to hold support and lift the index and improve structure right now!

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