07/16/2009 Market Recap: No Title

Cobra's Market View Private Messaging System shows:


Firework continues, but a profit taking condition was met.

Could be a pullback tomorrow.

  Trend Momentum Comments - Sample for using the trend table.
Long-term Down   Idea for trading intermediate-term under primary down trend.
Intermediate Up* Neutral  
Short-term Up Overbought  

As mentioned in After Bell Quick Summary, because CPC < 0.8 so 77% chances a green close tomorrow. Also 7.3.2 Firework Trading Setup, firework still on. Just pay attention to NYADV at bottom, it’s probably the time to lock at least partial profits. (Yeah, I know, the signal was too late this time, just one day profit, well, still better than guy like me who has no guts.)


0.0.0 Signal Watch and Daily Highlights, just take a look, intermediate-term mostly buy signal now. Also some paid services have asked their subscribers to take long positions today. Personally, although statistics say a 77% chances a green close tomorrow, but I still expect a pullback soon. Listed below are some (I think) reliable signals:

0.0.3 SPX Intermediate-term Trading Signals, look at red vertical dashed lines, looks like the current ChiOsc position always led to a big pullback in the past.


2.4.2 NYSE - Issues Advancing, pay attention to the red vertical dashed lines, whenever they hit the thick horizontal red line above, there was a pullback. Also pay attention to the red cycles bellow, as mentioned in 7.0.9 NYADV and NYUPV Divergence Watch, this kind of NYADV NYUPV negative divergence usually means a top. Well, I'm really too scared to think that this time this kind of divergence still works…


T2103 - Zweig Breadth Thrust from Telechart, the overbought signal is quite accurate.


7.7.9 Russell 3000 Dominant Price-Volume Relationships, 1610 stocks price up volume down. The number is a little bit too big therefore I consider it as a bearish sign.


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