07/15/2009 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

If you don’t believe “overbought” anymore then it’d be a tough call tomorrow, otherwise high likely a down day tomorrow.

As seems mentioned everywhere, we had both SPX and VIX up on the same day, according to the chart below 8 out 9 times recently a down day next day.

Meanwhile we had CPC < 0.8 which not only triggered a “firework” trading setup but also means 76% chances a green day tomorrow.

Also today is a Major Accumulation Day (NYUPV:NYDNV  > 9) and from the chart below we can see, on a up swing, most likely the next day was a green day.

Personally, I still believe “overbought” therefore I won’t chase the “firework” here.