Cobra's Market View Private Messaging System shows:
OK, we got a follow-through on Friday, but I'm not happy, because the bounce was weak and on decreased volume. Maybe it's because of the long weekend and OE day effect, but anyway, next Tuesday, the market must up big otherwise, bulls will be in trouble.
7.0.3 NYSE Composite Index Breadth Watch, this is the main reason why I'm not happy. According to "Equal up down strength" rule, bulls have 4 days left to prove themselves.
Let's see if by any chances this short-term bounce can last for awhile:
0.0.2 SPY Short-term Trading Signals, 2 hammers plus STO buy signal triggered very close to its oversold area, so under normal conditions the bounce is likely to continue.
Charts from www.stocktiming.com, from Liquidity Flow and Institutional "shift in direction" point of view, they're still at very low level.
Again, Institutional Buying and Selling Trending chart from www.stocktiming.com which I first introduced on Christmas day. Now blue curve is well bellow the red curve which means a distribution and therefore a downtrend in intermediate-term. The good news is that the blue curve is too low and therefore justifying a possible short-term rebound.
OK, now the possible rebound target:
1.0.3 S&P 500 SPDRs (SPY 30 min), potential Head and Shoulders Bottom, the theoretical target happens to be Fib 61.8 level.