01/08/2009 Market Recap: No Title

Cobra's Market View Private Messaging System shows:

Two points to say today:


1. 1.3.7 Russell 3000 Dominant Price-Volume Relationships, 1204 stocks price up volume down, bearish, statistically the market will likely to pullback no later than next Monday.

2. 0.0.2 SPY Short-term Trading Signals, NYMO still overbought while NYADV still very close to overbought, so if up again tomorrow, pay attention to the volume, the NYMO and NYADV overbought. Also my "Equal Up Down Strength" rule, down one day, up one day, if up again tomorrow but still cannot recover all the Wednesday's losing ground, according to 8.1.1 Buyable Pullback Rule, bulls are weak. As mentioned by yesterday's report, this "Equal Up Down Strength" rule is the last confirmation for the trend changes so be aware.


1.1.6 PowerShares QQQ Trust (QQQQ 15 min), little high the STO and ChiOsc are, so likely a pullback at least tomorrow morning.


  • Tom
© 2013 Cobra's Market View — All Rights Reserved.