02/13/2009 Market Recap: No Follow-through


Cobra's Market View Private Messaging System shows:


Two points to be noticed that:

  • The market did not follow through the reversal on Thursday, and this is no good;
  • Most signals are neutral, so the future direction is unknown.  However I got a few interesting charts for your information.

image

1.1.7 QQQQ Outperforms SPY Good Sign?  This is a reminder (not even a warning) that QQQQ:SPY is too high.  Please note that I am not saying QQQQ is going to sell off immediately, eventually it will pay back, but when?  I have no idea.

image

Institutional Buying and Selling Trending from www.stocktiming.com, here is the explanation from the author:

The Institutional Selling shows its trend line making higher/highs and higher/lows ... the definition of an up trend.  The Institutional Buying shows its trend line making higher/highs and higher/lows ... the definition of an up trend.  Institutions are showing an up-trend in BOTH ... buying and selling.   This behavior does not indicate what their predominant intention is.  This could mean they are rotating sectors, and/or setting up hedges.

I notice that the setup on the chart looks similar in last September when we saw a firework.

image

News Driven Market from www.tdtrader.com.

image

Compare the above chart with the following one, every time prior to the news pop market, CPC is waiting at the extremely low reading, isn't it?  Now, the CPC reading doesn't show much enthusiasm to the Wednesday Mortgage Relief Plan, does it?  The third time it will be different -- I guess the market will either sell off from Tuesday, or rally without sell on news and continue to go higher afterward.  In another words, the market direction on Tuesday could possibly be the real direction.  Lastly just to remind you that this is a wild guess, not TA, and should not be take as a guide to trading.

image

10 Comments on "02/13/2009 Market Recap: No Follow-through"
  1. Comment left on:
    February 15, 2009 at 4:23 pm
    Anonymous says:
  2. Comment left on:
    February 15, 2009 at 9:51 pm
    2cents says:
  3. Comment left on:
    February 16, 2009 at 12:53 pm
    Hung says:
  4. Comment left on:
    February 16, 2009 at 4:07 pm
    Cobra says:
  5. Comment left on:
    February 16, 2009 at 9:26 pm
    Anonymous says:
  6. Comment left on:
    February 16, 2009 at 11:30 pm
    Hung says:
  7. Comment left on:
    February 16, 2009 at 11:33 pm
    Cobra says:
  8. Comment left on:
    February 17, 2009 at 2:46 am
    Anonymous says:
  9. Comment left on:
    February 17, 2009 at 5:59 am
    Anonymous says:
  10. Comment left on:
    February 17, 2009 at 2:14 pm
    Cobra says:
Comments have been disabled here. This discussion has ended.
© 2013 Cobra's Market View — All Rights Reserved.