01/13/2009 Market Recap: A Hope of Rebound


Cobra's Market View Private Messaging System shows:


Short-term, a bounce is close.

 

1.0.3 S&P 500 SPDRs (SPY 30 min), besides lots of positive divergence which usually leads the price rebound, pay attention to green cycles, if TICK has several -1000 readings on the day, good chances a rebound the second day. So from the TICK point of view, we might be at a short-term bottom or at least not far away. Also EMA21 has been tested 4 times, the more it's being tested the higher the chances it'll be broken.

SPY30min

5.3.0 Financials Select Sector SPDR (XLF Daily), reversal day. STO and RSI seem to agree as well.

XLFDaily

2.0.0 Volatility Index (Daily), rejected by the resistance, sell signal on STO, likely to pullback further which is good for the overall market.

VIXDaily

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