04/08/2009 Market Recap: No Title


Cobra's Market View Private Messaging System shows:


  Trend Momentum Comments - Sample for using the trend table. Warning: This is NOT a trading recommendation!
Long-term Down   Idea for trading intermediate-term under primary down trend.
Intermediate Up Neutral* Hold long.
Short-term Down Neutral  
Report Focused On Buyable dip or the market topped?
Today’s Summary No clue, hope tomorrow the market could give us more hint.

The double confirming line on 2.8.0 CBOE Options Equity Put/Call Ratio has not broken yet, which is what I expected.  As I mentioned in the yesterday report, the market would seesaw and top out after several rounds of N vs N while the institutional accumulation is greater than distribution.  Concerning the N vs N rule, if the market pulls back and 780 still holds, then 4 up days vs 4 down days thus bulls win, and that will be a buyable dip (no guarantee that the market won’t pullback further on the next Monday).  If the market rises tomorrow and the low is above SPX 814, 2 down days vs 2 up days, bulls will be losers if the day high is below 845, then the dip is not a buy and one should wait until Monday.  Ironically, bulls wish a down day while bears are looking forward to the opposite.

image image   image

1.0.4 S&P 500 SPDRs (SPY 15 min).  Bullish falling wedge plus pre-holiday effect, the market would possibly rise, however I am not completely sure.

image image

1.1.4 Nasdaq 100 Index Intermediate-term Trading Signals.  It’s still overbought.

image

1.3.7 Russell 3000 Dominant Price-Volume Relationships.  1571 stocks price up volume down, bearish.  However I am not sure if this data can be ignored because of the pre-holiday effect.

image

  • Greenlander
  • Anonymous
  • Cobra
  • Eric
  • Cobra
  • Eric
  • Cobra
  • Anonymous
  • Eric
  • Cobra
  • Eric
  • Cobra
  • Anonymous
  • Eric
  • Eric
  • Cobra
  • Eric
  • Greenlander
  • Greenlander
  • Me XMan
© 2013 Cobra's Market View — All Rights Reserved.