Cobra's Market View Private Messaging System shows:
Two problems today:
1. Intra-day chart has overbought readings, so market might open lower or pullback in the morning tomorrow.
2. Down 5 days, up 4 days (well, sort of), so according to my "equal up down days" rule, market must up huge tomorrow. This seems a little difficult. Well, because for the past 4 up days, there was a day traded for only half day, so maybe it's OK as long as the high of 1/2/2009 is higher than the high of 12/17/2008. But anyway in order to meet the goal, tomorrow, the market shouldn't drop huge, should it?
0.0.0 Signal Watch and Daily Highlights, it's the time to take at least partial profits if you follow short-term signals in this chart. I may not mention this every time in my report, so you have to check this chart everyday.
For "equal up down day" rule, please compare the following chart with 8.1.1 Buyable Pullback Rule. The market MUST UP BIG within 2 trading days.
0.0.2 SPY Short-term Trading Signals, 2 overbought readings.
1.0.3 S&P 500 SPDRs (SPY 30 min), be careful about RSI "Double" overbought.
1.0.4 S&P 500 SPDRs (SPY 15 min), lots of overbought readings, MACD RSI negative divergence (a little though), possible Bearish Rising Wedge.